Drax moves away from coal to bid on Opus Energy and gas plants

Producer shifts focus to supplying end consumers and providing backup power to complement growing renewable output

Britain's largest coal power producer, Drax, is bidding to buy Opus Energy and four gas stations in a move away from its coal legacy that has been welcomed by investors.

Drax said it has made a 340m offer for business energy provider Opus Energy, an acquisition that will create Britain's fifth-biggest business energy retailer in combination with Drax's existing Haven Power customers.