Published by Global Banking & Finance Review®
Posted on February 10, 2025
1 min readLast updated: January 26, 2026
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The UK will halve subsidies for Drax from 2027-2031, promoting sustainable biomass use and saving consumers money.
LONDON (Reuters) - Britain said it had agreed a new deal with Drax which would halve subsidies for the domestic power producer over the 2027-2031 period, saving consumers money while also ensuring the group uses more sustainable sources of woody biomass.
(Reporting by Sarah Young; editing by Kate Holton)
The UK has agreed to halve subsidies for Drax, a domestic power producer, over the 2027-2031 period to promote sustainability.
The UK aims to save consumers money and ensure Drax uses more sustainable sources of woody biomass.
Drax will need to focus on more sustainable biomass sources while operating with reduced subsidies.
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