Drax is accelerating plans to convert one of its six units to gas in order to bid for a capacity contract as early as 2019. The news comes on the same day the company announced a pre-tax loss of Ã‚Â£83m for the first half of 2017.
The head of Drax Group, Dorothy Thompson, says they are willing to accelerate the closure of its coal-fired power units in return for green energy subsidies to help develop its biomass power facilities.
British power group Drax could be set to mothball its coal-fired power plants as low gas prices, competition from renewables, withdrawal of government support and the UK's plan to close coal-fired plants by 2025 all take their toll.
Drax has announced that it will no longer be investing in the White Rose carbon capture and storage project once the development has been completed and is to withdraw from the Capture Power partnership.