hxxps://www.nao.org.uk/work-in-progress/the-governments-support-for-biomass/ |
??
Why the sudden drop - Cant find anything.. |
4/7 not very enthusiastic going long in the market as a whole
dyor |
UT trade is a large buy today for the first time in two weeks. Selling finished? |
And yet....finished up 31p having been down 70p at one point. Somebody must have done well out of that swing. |
Perhaps now this company will drop the insanity of Carbon capture. Being paid to be mad is one thing but using up your own investment capital in a Quixotic enterprise is beyond belief. |
Drax Group plunged 11%.
The Yorkshire, England-based power generator's biomass carbon-capture and storage project was rejected by the UK's Department for Energy Security & Net Zero, Bloomberg reported.
Surprised it hasnt been RNS'd |
DRAX REJECTED BY UK CARBON CAPTURE PROGRAM IN HIT TO BIOMASS |
Why the big drop today? |
Coal plants (EDF) have been on grid since yesterday. |
coal fired plants being started up this pm
to supply grid
French nuclear power plants under pressure due to refurbishments
our cousins in j'burg all buying generators, massive blackouts
despite better climate |
Sold out. My investment theory from last year that Drax could profit asymmetrically from electricity price spikes has not borne fruit, and I can't see this moving much from here. |
Market does not seem to like the FY results. They look pretty good to me. Perhaps folks are not looking through the derivative MTMs which cloud the issue but are irrelevant to underlying profit. |
Rumours in my village of strikes inbound at Drax station.
Overheard in the local shop from an Eggborough retiree. |
Drax coal stations being warmed up. |
Norwegian boss of Equinor does not expect gas & electric
bills to fall to pre-covid levels
week end news, CPSC commissioner publicly stated gas stoves
might need to be regulated, (harmful air pollutants)
looking for market dips to buy back in
dyor
edit, 1/2 our cousins in J'burg say rolling blackouts in SA
are a disaster for the economy, |
 Market underrates Drax, says Marlborough’s Chand-Lall
Power generation company Drax (DRX) has long-term potential that the market has not recognised, says Marlborough fund manager Siddarth Chand-Lall.
Chand-Lall holds the stock in his £658m Marlborough Multi-Cap Income fund, and in a recent update noted the company’s ‘significant change’ following the closure of its last two remaining coal-powered sites in 2021.
‘Drax has transformed itself to become the UK’s largest generator of power from renewable sources including biomass and hydro,’ he said.
‘It has submitted plans to build a multi-billion-pound facility in North Yorkshire combining biomass power generation with carbon capture and storage. Drax plans to use this technology to achieve carbon-negative status by 2030.’
Chand-Lall noted the company’s high cash generation that supports ‘an attractive dividend yield of 3-4%’ and earnings that are forecasts to growth at an annualised rate of 18% between now and 2025.
‘Dividends per share have grown at an annualised rate of 10% over the past five years and that’s expected to rise to 12% this year,’ he said.
The shares trade at a multiple of 9.4 times earnins but is in ‘the process of ambitious change and trading robustly’.
‘In our view, this is a company with strong long-term growth potential that is not reflected in its current valuation,’ said Chand-Lall.
Drax shares gained 2.6% to 665p on Thursday. |
Norwegian government knows north sea oil/gas is running out
needing to fall back on hydro electric, the present problem is
our weak currency v high valued Krone, we need coal fired plants to save the economy
if only for a few years
2019 Edi Truells geothermal dream runs out of power, Iceland to UK 1000ml sub-sea cable
creating 800 jobs lost all thanks to former energy minister Kwarteng |
falling energy prices.
Demand down 40% yoy
tiger |
CNA too. Wholesale gas prices? |
6% off today. What has happened? |
TGG
"Plenty of coking coal closed off in the UK - tory party politics, obv"
And you think Labour would be any less Green? If anything they'd be even more crazily Net Zero inclined.
We rush into economic collapse and immense hardship for all.
Without cheap reliable energy there is no economy, no prosperity. |
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
