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.

Exane BNP Paribas today upgrades its investment rating on Drax Group PLC (LON:DRX) to outperform (from outperform).

RBC Capital Markets today reaffirms its outperform investment rating on Drax Group PLC (LON:DRX) and cut its price target to 370p (from 400p).

StockMarketWire.com
Power generation supplier Drax Group posted an annual loss, owing to two unplanned outages.

For the six months to June 30, statuary losses were £12m, compared with a £61m loss the same period a year ago.

Ebitda fell to £102m from £121m.

Drax said, however, that other areas performed well as its pellet production business drove down costs and output reached record levels. The company's B2B Energy Supply business continued to increase customer numbers.

First-half pellet production rose 80% to 0.7m tonnes from 0.4m tonnes and cost per tonne fell 12%.

The third biomass pellet plant, LaSalle Bioenergy, was commissioning ahead of plan and on track to reach full capacity in the first quarter of 2019, the company said.

A conversion of a fourth biomass generating unit was also on schedule and budget, and expected to come online in the late summer.

The interim dividend rose to 5.6p per share, from 4.9p per share. Dividends for the 2018 full-year were expected to come in at £56m.

The company said it completed £13m of £50m buyback programme as at 30 June.

Drax said it full-year expectations remained unchanged.

Drax said it was buying Scottish Power's portfolio of pumped storage, hydro and gas-fired generation for £702m from parent company Iberdrola. The portfolio is expected, based on recent power and commodity prices, to generate EBITDA in a range of £90m-£110m from gross profits of £155m to £175m.

Up over 5% at the moment.