Drax Group
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Drax Group (DRX) investor relations material

Drax Group Trading update summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Trading update summary30 Apr, 2026

Operational performance and outlook

  • Strong operational performance supports UK energy security amid geopolitical uncertainty.

  • Full year 2026 Adj. EBITDA expected in line with consensus estimates (£665m, range £643–£682m).

  • Assets provide over 5% of UK electricity and up to 18% of renewable power at peak.

  • Supply chain remains resilient with primary biomass sourcing from North America.

  • Ongoing optimisation of generation to meet high demand periods.

Regulatory and market developments

  • UK Government to remove Carbon Price Support from April 2028; no change to expectations.

  • Electricity Generator Levy extended and increased, but not expected to impact 2026 Adj. EBITDA.

  • From April 2027, Drax Power Station to operate under CfD, exempt from EGL.

FlexGen and asset development

  • Cruachan Power Station units 1 and 2 performing well; units 3 and 4 in planned outage and refurbishment.

  • Hirwaun Power Station (first of three OCGT plants) to come under control soon.

  • Flexitricity acquisition completed, supporting GW-scale BESS pipeline ambitions.

  • Over £500m committed to BESS assets and tolling contracts, operations from late 2027.

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H1 202630 Jul, 2026
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