Taxpayer cash: Drax chief exec Will Gardiner (pictured) said the fresh subsidies arrangement was ‘a major milestone’.
Emissions: Drax's North Yorkshire plant (pictured)– described by opponents as Britain’s ‘biggest green hoax’ – has received billions of pounds from the Government.
The North Yorkshire plant – described by opponents as Britain’s ‘biggest green hoax’ – has received billions of pounds from the Government in recent years because wood pellets are classed as a source of renewable energy.
Biomass is the cheapest option in the short term, but without extra technology to capture carbon emissions from burning wood it is not a long-term solution, ministers have said.
It will halve the subsidies paid to Drax and include a windfall mechanism that means that 30 per cent to 60 per cent of profits will be returned to consumers if they go above expected limits.
