UK's power giant Drax dropped 17% in earnings, reaching £140 million. Yet, the renewable energy amount it has generated has increased. Bosses at Drax Group, which operates the power station near Selby, said strong operational performances in 2016 helped the business to respond to the financial challenge posed by "difficult commodity markets," as reported by York Press. For the year ending December 31, 2016, Drax saw EBITDA (earnings before interest, tax, depreciation and amortization) fall from £169 million in 2015 to £140 million in 2016. During the mentioned period, 65% of ...
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