[5] Increased competition, over-capacity and new trading arrangements contributed to a significant drop in wholesale electricity prices, which hit an all-time low in 2002.
[11] In October 2017, Drax sold Billington Bioenergy for £2 million to an AIM-listed energy company called Aggregated Micro Power Holdings.
[12] On 16 October 2018, Drax Group announced that it had agreed to acquire Scottish Power's portfolio of pumped storage, hydro and gas-fired generation for £702 million in cash from Iberdrola, subject to shareholder approval.
[14] On 15 December 2020, Drax Group announced the sale of Rye House, Damhead Creek, Shoreham and Blackburn Mill to VPI Holdings for £193.3m.
Originally built, owned and operated by the Central Electricity Generating Board (CEGB), Drax Power Station was constructed and commissioned in two stages.
[18] Drax was the last coal-fired power station to be built in the UK, and was initially designed to use low-sulphur coal from the nearby Selby coalfield in six generating units.
[29] Protesters claimed that the company was asking for substantial subsidies to operate the new plant "in addition to the £2.36 million a day it already receives for burning biomass.
"[29] After ministers overruled objections from the planning authority and approved the plant, a legal challenge was brought against the decision but failed in the courts in January 2021.
[32] On 3 October 2022, BBC Panorama aired an episode showing how pellets burned in Drax powerplants came from natural growth forest in British Columbia.