Drax helped by long-tem deals

9th Nov 2010 08:09

Coal-fired power station Drax remains on track to meet forecasts this year with its large slug of forward contracts insulating it against low electricity prices. "Whilst the UK market continues to experience low dark green spreads, our exposure is mitigated by a strong forward contracted position. Good operational performance has allowed us to take advantage of Drax Power Station's reliability and flexibility to maintain a high load factor. As a result, we continue to trade in line with expectations for the year," it said.Fixed price forward sales include include 24.7 terrawatts at £51.3 in 2010, 8.8Twh at £56 in 2011 and 2.2Twh at £59 in 2012. Dark spreads are the prices of power from coal-fired stations,