We continue to follow our stated trading strategy of making steady
forward power sales with corresponding purchases of CO2
emissions allowances and fuel purchases. Our aim is to deliver
market level or better dark green spreads across all traded market
periods and, as part of this strategy,
we retain power to be sold into the prompt (within season) power markets.
As at 20 February 2009, the positions under contract for 2009, 2010 and 2011 were as follows:
we retain power to be sold into the prompt (within season) power markets.
As at 20 February 2009, the positions under contract for 2009, 2010 and 2011 were as follows:
| 2009 | 2010 | 2011 | |
|---|---|---|---|
| Power sales (TWh) comprising: | 20.7 | 17.3 | 10.3 |
| – Fixed price power sales (TWh) at an average achieved price (per MWh) | 16.2 at |
11.2 at |
4.6 at |
| £51.0 | £56.6 | £62.6 | |
| – Fixed margin and structured power sales (TWh) | 4.5 | 6.1 | 5.7 |
| CO2 emissions allowances hedged, including UK NAP allocation, market purchases, structured contracts, and benefit of biomass co-firing (TWh equivalent) | 20.5 | 17.5 | 18.0 |
| Solid fuel at fixed price/hedged, including structured contracts (TWh equivalent) | 22.1 | 15.2 | 9.8 |
Fixed price power sales include approximately 0.7TWh supplied to
Centrica in the period 1 January 2009 to 20 February 2009 under the
five-and-a-quarter year baseload contract with Centrica which
commenced on 1 October 2007.
Fixed margin power sales include approximately 4.5TWh in 2009 and 5.3TWh in each of 2010 and 2011 in connection with the contract.
Under this contract we will supply power on terms which include Centrica paying for coal, based on international coal prices, and delivering matching CO2 emissions allowances amounting to approximately 4.8 million tonnes per annum. The contract provides Drax with a series of fixed dark green spreads which were agreed in the first quarter of 2006.
Fixed margin power sales include approximately 4.5TWh in 2009 and 5.3TWh in each of 2010 and 2011 in connection with the contract.
Under this contract we will supply power on terms which include Centrica paying for coal, based on international coal prices, and delivering matching CO2 emissions allowances amounting to approximately 4.8 million tonnes per annum. The contract provides Drax with a series of fixed dark green spreads which were agreed in the first quarter of 2006.