Page last updated at 12:43 GMT, Tuesday, 23 February 2010

Yorkshire power plant firm Drax announces profit fall

The operator of the Drax power station in North Yorkshire has announced its pre-tax profits for 2009.

Drax Group, which runs the coal-fired plant near Selby, reported pre-tax profits of £158m, a 64% fall from its 2008 figure of £443m.

The company said a slump in British gas prices and a weak economy had made coal plants in the UK less profitable over the past year.

A Drax spokeswoman said they expected the situation to improve in 2010.

The company said despite the fall in profits it had made more than £10m in cost savings in 2009 and the business was "well-positioned" for the future.

The Drax power station supplies about 7% of Britain's electricity.

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