Drax generates £1.2bn and over 14,000 jobs for the economy, says Oxford Economics report

Energy business Drax contributed more than £1 billion towards UK GDP in 2015 and supported thousands of jobs across the country. The findings were revealed in a new report looking at the Group’s UK operations, which includes Drax Power Station – Europe’s largest decarbonisation project.

Researchers at Oxford Economics studied the impact of Drax Group on the UK’s economy as the company nears completion of a major high tech engineering and infrastructure project to upgrade half the generating units at Drax Power Station near Selby in North Yorkshire to use sustainable biomass in place of coal. With the right support from Government, Drax aims to upgrade the remainder of the Power Station.

Their report estimates that the Group’s UK activities and that of companies in its supply chain last year contributed £1.2 billion to the economy and supported 14,150 jobs.

Employment covered a wide range of sectors including high-skilled manufacturing of industrial components, engineering and technical machinery, construction, IT, professional business services and transport.

This combination of activity and employment also generated tax revenues for the UK estimated at £430 million, equivalent to the salaries of almost 16,500 nurses or 12,900 teachers.

Oxford Economics used three measures to calculate Drax Group’s GDP contribution: the direct activities of the Group and its contractors, activity and employment in the supply chain of the Group and its contractors, and spending by all employees involved.

A breakdown of the GDP generated by Drax Group shows all regions of the UK benefited.

Read the original press release HERE.