Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Drax Group plc    DRX   GB00B1VNSX38

DRAX GROUP PLC

(DRX)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Unite union holds ballot for industrial action at Drax power plant

share with twitter share with LinkedIn share with facebook
06/09/2020 | 10:21am EDT
The chimneys of Drax Power Station are pictured through a field of wheat near Selby in northern England

Britain's largest union said on Tuesday it would hold a ballot for industrial action later this month over the closure of two coal-fired generation units at Drax Group's Selby power plant in north Yorkshire.

Unite said the ballot will include the option for strike action later in the summer.

Drax Group is planning to close two coal-fired units next April. The other four units are biomass, using wood chip pellets.

The coal-powered units will be potentially replaced by gas generation units, after a judicial review last month.

Unite said that when a pay deal was struck last year, it was agreed that there would be no compulsory redundancies amongst the 600-strong workforce, but the company has now backtracked on the agreement.

Drax said it has been talking to employees and unions for more than two years about the coal unit closures.

"We gave our employees over a year's notice - the job losses will take place in April 2021. This means we have time to support those affected to get the best outcomes for them," a spokeswoman said.

Unite said its members voted by 85% to proceed to an industrial action ballot later this month which could give the green light for strike action towards the end of July.

"The management has a window of opportunity to negotiate with Unite for a natural wastage scheme as workers leave the plant's employment," Unite's regional officer Shane Sweeting said in a statement.

(Reporting by Nina Chestney; editing by David Evans)


Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -1.63% 16.29 Delayed Quote.196.18%
BEST INC. -9.82% 2.57 Delayed Quote.-53.78%
DRAX GROUP PLC 3.21% 295.8 Delayed Quote.-5.80%
JUST GROUP PLC 1.01% 42.1 Delayed Quote.-46.71%
MEMBERS CO., LTD. -2.43% 1770 End-of-day quote.-22.27%
THE NEW HOME COMPANY INC. -5.93% 5.08 Delayed Quote.9.01%
WILL GROUP, INC. -4.33% 773 End-of-day quote.-38.26%
share with twitter share with LinkedIn share with facebook
All news about DRAX GROUP PLC
10/26DRAX : 26 October 2020 - Drax response to Northern Endurance Partnership announc..
PU
10/23DRAX : 22 October 2020 - Zero Carbon Humber unveils raft of supporters in show o..
PU
10/12DRAX : 12 October 2020 - Building back better by supporting negative emissions t..
PU
10/07DRAX : 7 October 2020 - Zero Carbon Humber Partnership submits £75 million bid t..
PU
09/24DRAX : 24 September 2020 - BECCS is 'most mature' of all carbon removal technolo..
PU
09/23DRAX : Worley secures contract for ground-breaking carbon capture project
AQ
09/22DRAX : awards Aussie engineers CCS project in North Yorkshire; Once operational,..
AQ
09/21DRAX : 21 September 2020 - Drax Biomass donates $20,000 to help communities affe..
PU
09/16DRAX : 16 September 2020 - Drax supports post-Covid recovery with new Scottish a..
PU
08/30DRAX : 31 August 2020 - COVID lockdown made Britain's electricity system cleaner..
PU
More news
Financials
Sales 2020 4 474 M 5 794 M 5 794 M
Net income 2020 -3,71 M -4,80 M -4,80 M
Net Debt 2020 834 M 1 080 M 1 080 M
P/E ratio 2020 91,8x
Yield 2020 5,72%
Capitalization 1 174 M 1 521 M 1 520 M
EV / Sales 2020 0,45x
EV / Sales 2021 0,44x
Nbr of Employees 2 829
Free-Float 96,3%
Chart DRAX GROUP PLC
Duration : Period :
Drax Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DRAX GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 323,30 GBX
Last Close Price 295,80 GBX
Spread / Highest target 35,2%
Spread / Average Target 9,30%
Spread / Lowest Target -16,2%
EPS Revisions
Managers
NameTitle
Dwight Daniel Willard Gardiner Chief Executive Officer & Executive Director
Philip Gotsall Cox Chairman
Andrew Keith Skelton Chief Financial Officer & Director
David Nussbaum Senior Independent Non-Executive Director
Nicola Hodson Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
DRAX GROUP PLC-5.80%1 521
NEXTERA ENERGY20.93%144 991
ENEL S.P.A.-3.37%80 943
IBERDROLA, S.A.10.29%72 293
DOMINION ENERGY, INC.-2.99%67 937
DUKE ENERGY CORPORATION0.99%67 836