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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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