Report quantifies impact of Drax conversion
Oxford Economics recently released a report that details the total impact of Drax Group on the U.K. economy, reporting that Drax contributed approximately £1.2 billion ($1.58 billion) to the U.K.’s gross domestic product (GDP) in 2015 while supporting an estimated 14,150 jobs throughout the country. The total impact takes into consideration supply chain activities and the wages that the company’s staff and suppliers’ staff spend in the wider consumer economy. The direct GDP impact of Drax in 2015, primarily its wages and sum profit, was £284 million. In addition, the company directly employed nearly 1,300 people.
“This report shows Drax is supporting more than 14,000 jobs across the U.K., with the vast majority resulting from our upgrades to biomass technology,” said Dorothy Thompson, CEO of the Drax Group. “The economic benefit has reached all parts of the country…Drax is now the U.K.’s biggest single generator of renewable power. With the right support from government, we aim to upgrade more of our electricity production to using compressed wood pellets. This would provide a further boost to the U.K. economy, and deliver increased carbon savings.”