Sunny

Sunny

max temp: 12°C

min temp: 6°C

ESTD 1874 Search

Ipswich: First half profits in line with expectations at Haven Power owner Drax

14:29 30 July 2013

Haven Power's offices in Ipswich

Haven Power's offices in Ipswich

Archant

Electricity generator Drax, parent company of Ipswich-based energy retail business Haven Power, today reported reduced first half profits in line with expectations.

The group, which owns the UK’s largest coal-fired power station at Drax, near Selby, in Yorkshire, reported underlying profits of £120million for the six months to June 30, down 22% from £154m in last year’s first half.

Drax said the decline reflected increased carbon costs, following changes in EU policy and the start of the UK carbon tax, but that it had delivered a good operating performance.

The period included the commissioning of the first of three generating units at Drax which it plans to convert from burning coal to sustainable biomass, in a move which will eventually make it a predominantly biomass-fuelled generator.

Drax said the unit, the largest anywhere in the world to have been converted from coal to biomass, had come on stream in April and was performing according to plan.

Work on commissioning new biomass receipt, storage and distrubition systems will start later this year.

Drax said that Haven Power, which sells energy into the business market, continued to represent a valuable alternative to trading through the wholesale market.

“Sales growth within the industrial and commercial and small and medium enterprise markets remains the business priority,” the group added.

“With significant growth achieved in the first half of the year we are confident in our ability to continuing to grow our power sales to business customers.”

Search hundreds of local jobs at Jobs24

0 comments

Artist and pub sign designer George Taylor.

A piece of west Suffolk pub history is up for grabs at an auction in the town today.

Hattie Hopkins and Freddy Legg judging the best Christmas window in Framlingham.

Organisers of a Suffolk town’s “festive window competition” say this year’s success has confirmed its future as an annual Christmas event.

Avanti Group (UK) managing director Victoria Sharp

An Ipswich tax accountancy firm is celebrating after it was accepted as a provisional member of the British Franchise Association (BFA), a UK regulatory body for franchising.

A120 at Marks Tey

The A120 could join the A12 at Rivenhall or Kelvedon instead of Marks Tey as potential routes for the new dualled road are revealed.

Paul Mead of Muntons handing its 'site bikes'  to Charlotte Ward of Re-cycle for shipment to Africa.

Stowmarket-based malt firm Muntons is set to donate 10 of its ‘site bikes’ to a charity linked to Africa.

Management Jobs

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

MyDate24 MyPhotos24