Drax pledges biomass conversion if subsidy given

Britain's biggest power station, Drax, threw down the gauntlet to the Government yesterday, pledging to invest up to £700 million to transform itself into a biomass energy generator but only if subsidies are increased. The coal-fired power plant said it was willing to invest heavily to become primarily fuelled by renewable biological materials such as wood or cocoa shells. It is preparing to raise £300m-£400m to help finance its biomass drive. Dorothy Thompson, the chief executive, said: "Drax is ready to transform itself into a predominantly renewable generator, but to do so we need appropriate regulatory support, and to that end we look forward to the timely conclusion of the Government's current review."