Article by Eric Worrell
h/t Steve Richards; … “Drax, who makes most of his profits from public subsidies, claims that burning forests is good for the planet.” …
Drax seeks new handout despite £300m buyback
Drax wants ministers to provide support until end of decade
renew: July 27, 2024 19:37 Australian Eastern Time
The UK's largest wood-burning plant is in talks with the government over further grants to fund its controversial biomass power plant.
Despite huge profits and a £300m share buyback, Drax still wants ministers to provide financial support until the end of the decade.
The company has provided more than £6 billion in subsidies to the Selby power station in North Yorkshire, which generates more than 4% of the UK's electricity.
…
“It's unacceptable that this company is burning down forests around the world and making money by destroying the environment,” said Matt Williams of Reduce Carbon No Forest, an advocate for the Natural Resources Defense Council, an American environmental advocacy group.
“Drax, who makes most of his profits from public subsidies, claims that burning forests is good for the planet.”
…
£6bn in subsidies is a huge amount of money – around £90 for every man, woman and child in the UK. I wonder how many Brits would rather have £90 in their own pockets than in the pockets of Drax shareholders.
According to the DeSmog blog, Conservative politicians received £48,000 in donations from companies linked to Drax in 2023. Desmogue claimed Labor also accepted a small donation of £12,000 from Drax. Obviously, I'm not suggesting that such donations would in any way influence whether politicians support Dex's demand for more subsidies.
related
