Drax announces £150m share buyback after record profits
by Jillian Ambrose Energy correspondent from Environment | The Guardian on (#6B5RE)
Group pauses investment in carbon capture project as it waits for details on possible government subsidy
The owner of the Drax power plant will give its shareholders a 150m windfall after reporting its highest-ever annual profits, thanks in part to record electricity prices.
The FTSE 250 company also said it was pausing investment in its controversial carbon capture project while it waited for more details from the government on a possible subsidy.
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