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UK cuts subsidies for biomass power producer Drax

Published by Global Banking and Finance Review

Posted on February 10, 2025

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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)

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