Ofgem has confirmed that electricity generator, Drax Pumped Storage Limited, has agreed to pay £6.12 million to the Voluntary Energy Redress fund for breaching its Electricity Generation License.
The UK exported a record-breaking 5.5TWh of power, worth around £1.5 billion, to Europe in the second quarter of 2022, says Drax Electric Insights in a new report.
One in four businesses see renewable energy as a passing fad according to new research, which also found that a majority see energy suppliers as responsible for lowering carbon emissions and educating the market of the different types of energy available.
Drax Group is to launch Europe’s first bioenergy carbon capture storage (BECCS) project, claiming that its success could bring ‘carbon negative’ power to North Yorkshire.
The ‘Beast from the East’ cold snap in late February and early March exposed what Drax Group has dubbed an “undue reliance” on the country’s interconnection capacity.
