By Paul Homewood
Without public subsidy, Drax would have no future at all!
Their newly published Annual Accounts for 2018 show that subsidies from ROCs and CfDs have risen to £789 million, from £729 million in 2017, for biomass generation.
Biomass generation totalled 13.8 TWh, so the subsidy works out at £57.17/MWh
ROCs were worth £468 million:
Whilst CfD income added a further £321 million:
On top of these subsidies, of course, Drax receives payment for the electricity sold, amounting to £983 million, equating to £53.71/MWh (based on 18.3 TWh).
In other words, biomass subsidies are worth more than the value of power sold.
Despite this government largesse, Drax only managed to turn in a paltry profit of £37 million.
As I pointed out last year, without subsidies, Drax would be bankrupt.
Is there any company in the UK that is more subsidised than Drax?
via NOT A LOT OF PEOPLE KNOW THAT
March 2, 2019 at 09:12AM
Iowa Climate Science Education 