Saturday, February 23, 2013
Drax Stock Rises to 4-Year High on Faster Biomass Conversion
The stock market is rewarding Drax Group Plc for its bold decision to invest $1 billion to convert the UK's largest coal-fired power plant to a biopower plant. Read more.
The European energy landscape is complex and shifting--rapidly. The big energy companies and utilities are embracing renewables, including biomass, in order to meet the 20-20-20 policy targets (20% carbon cuts by the year 2020). But coal use is also rising in some countries--Germany, for example--because of fear of nuclear power and high natural gas prices in Europe (in contrast with the United States, where the big story to watch is the resurgence of natural gas and propane).