Drax Group plc confirms that it has provisionally secured agreements to provide a total of 462MW of capacity (de-rated 432MW) principally from its pumped storage and hydro assets. The agreements are for the delivery period October 2027 to September 2028, at a price of £65/kW, with income of around £28 million in that period. These are in addition to existing agreements which extend to September 2027.

Drax has also provisionally secured agreements to provide a total of 240MW of capacity (de-rated 226MW) for the refurbishment of Cruachan Power Station units 3 and 4. The agreements are for the delivery period October 2027 to September 2042, at a price of £65/kW(2), with income of around £221 million in that period.