Results due soon electricity prices only fell slightly recently boith DRX and BGY very volotile as brokers continue to change their minds i'm in and staying with good growth and 5%= yield protecting price

Results due 8/3 so expect some gains running up to that......


Drax Group PLC
01 February 2007


1 February 2007


DRAX GROUP PLC
('Drax')
(Symbol:DRX)

NOTICE OF RESULTS

Further to the reference made in the Trading Update released on 13 December
2006, Drax confirms that it will be announcing its preliminary results for the
year ended 31 December 2006 on Thursday 8 March 2007.

Drax also advises that the date set for its 2007 Annual General Meeting is
Thursday 26 April 2007.

In which case shouldn't you be looking to lock in profit, or at least set a stop?

Harry - I've taken some profit here and FGP today.

Nice one. Also approaching the 2 year high at 480 ish. I can't imagine many private investors would be holding on much longer.

Running out of steam?

Harry - I closed the rest of mine earlier - so they will probably carry on up now!

It has carried on, though slowly. Coming up for divi (16p) 28th Sept '11.

Recent upgrades and SP targets......

08-11-11 07:38 Liberium-Upgrade 670P

02-11-11 Barclays Capital Upgrades 675P

31-10-11 Goldman Sachs 682p

DRX DRAX Top end of range of forecasts.

http://moneyam.uk-wire.com/cgi-bin/articles/201111150700250732S.html

Merrill Lynch upgrades Drax Group from neutral to buy, target price raised from 510p to 660p.

Societe Generale upgrades Drax Group from sell to hold, target price raised from 498p to 527p.

UPDATE 2-Drax sues Britain over U-turn on converting coal unit

* Shares in Drax fall 14 pct * Legal challenge will test new UK subsidy framework * Drax to continue with conversion regardless of outcome * Dong Energy biggest winner of subsidy contracts (Adds further Drax reaction, Dong Energy contracts, lobby group comment, background) By Karolin Schaps LONDON, April 23 (Reuters) - British electricity producer Drax DRX.L said it had started legal proceedings against the government over a decision not to support the conversion of one of its coal-burning units to biomass under a new subsidy scheme. The government's move is a blow to Drax's plans to modernise its polluting coal plant in Yorkshire, northern England, to burn more environment-friendly biomass after two units were short-listed in December to receive contracts under the new government scheme. "Nothing has changed, as far as our plans are concerned, between being deemed eligible in December and now. We have, therefore, commenced legal proceedings to challenge the decision," Drax Chief Executive Dorothy Thompson said in a statement on Wednesday. Shares in Drax were down 14 percent at 0926 GMT on Wednesday. The government is changing the way in which it supports renewable energy projects by replacing a mechanism for direct subsidy payments with a system whereby qualifying projects are guaranteed a minimum price at which they can sell electricity. Drax's legal challenge will set a precedent in testing the legal framework of the new subsidy regime, due to start in April 2015, and its outcome could sway other investors in UK biomass conversion projects. The government said the project for converting Drax's Unit 3 at the plant did not meet all its assessment criteria for the new contracts-for-difference (CfD) scheme. It recommended that Drax continue to use the current direct subsidy scheme, which analysts say is less lucrative. "We believe that this decision is disappointing. It has undoubtedly created some greater uncertainty," Angelos Anastasiou, a utilities analyst at Whitman Howard, said. Drax said that regardless of the outcome of the legal challenge, it would continue with the biomass conversion project. The government granted a CfD contract for the conversion of Drax's Unit 1, which will receive a guaranteed power price of 105 pounds ($180) per megawatt-hour from April 2015 when the new scheme is due to start, pending EU state aid clearance. The government also awarded investment contracts to seven other projects on Wednesday, including two biomass plants and five offshore wind farms. These included the Dudgeon offshore wind farm, proposed by Norway's Statoil STL.OL and Statkraft, SSE's Beatrice offshore wind farm and a third biomass conversion unit at Drax's coal-fired power plant. Denmark's Dong Energy was awarded contracts for its Walney Extension, Burbo Extension and Hornsea offshore wind projects, making it the biggest winner. "These contracts will allow us to deliver over 5 billion pounds of investment in the pipeline of projects we have in the UK," Brent Cheshire, Dong Energy's UK chairman, said in a statement. Britain's RenewableUK lobby group said it was important that all renewable energy projects receive support through the CfD scheme, not just those announced on Wednesday. "We need far more onshore and offshore wind projects over the next decade if we're not to find our energy security threatened," RenewableUK Chief Executive Maf Smith said.

Investec Buy 656.50 657.50 1,000.00 850.00 Reiterates

HSBC Overweight 656.50 657.50 875.00 830.00 Reiterates

Deutsche Bank Buy 656.50 657.50 900.00 900.00 Reiterates

Citigroup Neutral 656.50 657.50 800.00 800.00 Reiterates

Goldman Sachs Conviction Buy 656.50 657.50 1,226.00 1,067.00 Reiterates

Credit Suisse Outperform 682.00 660.00 695.00 750.00 Upgrades

2 Sep 2014 Drax Group PLC DRX Credit Suisse Outperform 0.00 656.50 750.00 750.00 Reiterates

SP Target 750p

2 Sep 2014 Drax Group PLC DRX RBC Capital Markets Outperform 654.50 656.50 750.00 750.00 Reiterates

Bottom been formed I wonder?

Woodford been adding again though some might say averaging (down). A lot to go for if the bottom has indeed been formed....

Yes cp1 ,i have this on my watchlist as well...

22nd Jan 2015

The European Union has given the green light for the UK government to provide financial aid to MGT Power’s biomass power station in the North East of England.
Sector peer Drax, which owns the largest coal-fired power station in the UK that is switching to burn wood pellets, was performing well on London's stock market on hopes for EU support for biomass generation.
The European Commission said its decision to back MGT's Teeside project was due to the fact that the plant will reduce carbon dioxide emissions and provide a constant energy output throughout the day, rather than intermittently as is the case with wind energy.
MGT and Drax are among the developers to be awarded a contract for difference mechanism that is meant to insure the price clean energy generators receive for power over 15 years. Government funding is designed to ensure certainty for investors until a more permanent solution is introduced.
Drax shares fell 13% in December after the government announced it was considering withdrawing state aid to generators that are converting to burn biomass, but rose 3.91% to 372.10p at 14:16 on Tuesday on the back of the decision adopted by the executive arm of the European Union.

Watching.