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Drax Ups 2026 Hedging by Over 1TWh

POWER
Homepagemarkets-real-timeBulletUKBank Of England (BOE) Market News

UK firm Drax has upped its 2026 hedging by around 1.8TWh at the end of the 2Q24 compared to the end of 1Q, with its 2024-25 forwards sales only slightly increasing, it said.

  • Drax hedged 4.8TWh of power for delivery in 2026 at an average price of £79.70/MWh, up from 3TWh at the end of March but at a higher price of £84.80/MWh (see chart)
  • It sold 10TWh of its generation for 2025 at £107.10/MWh, increasing from 9.9TWh at the end of 1Q24 for £108.40/MWh.
  • It 2024 hedged volumes stood at 11TWh at £150.90/MWh compared to 10.4TWh at £153.10/MWh.
  • No CfD volumes were contracted for 2026, with 3.9TWh in 2024 and 0.8TWh in 2025 done under agreements. This is up from 3.2TWh and 0.2TWh, respectively, at the end of 1Q24.


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UK firm Drax has upped its 2026 hedging by around 1.8TWh at the end of the 2Q24 compared to the end of 1Q, with its 2024-25 forwards sales only slightly increasing, it said.

  • Drax hedged 4.8TWh of power for delivery in 2026 at an average price of £79.70/MWh, up from 3TWh at the end of March but at a higher price of £84.80/MWh (see chart)
  • It sold 10TWh of its generation for 2025 at £107.10/MWh, increasing from 9.9TWh at the end of 1Q24 for £108.40/MWh.
  • It 2024 hedged volumes stood at 11TWh at £150.90/MWh compared to 10.4TWh at £153.10/MWh.
  • No CfD volumes were contracted for 2026, with 3.9TWh in 2024 and 0.8TWh in 2025 done under agreements. This is up from 3.2TWh and 0.2TWh, respectively, at the end of 1Q24.