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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
POWER
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.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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