Drax cut profits due to lower power prices and a big charge, but raised dividends and plans job cuts and major green energy shifts.

Drax Group reported lower 2025 profits due to reduced power prices and a £378 million non-cash charge, but adjusted EBITDA of £947 million beat expectations. Despite a drop in operating profit to £241 million, the company raised its dividend by 11.5% and plans job cuts, with up to 150 roles at risk. Drax is restructuring toward flexible power, battery storage, and a potential 1.2GW data center near Selby, with £150 million in annual savings expected from 2027. It forecasts 2026 adjusted EBITDA near market expectations and aims for long-term growth through new low-carbon contracts and strategic shifts.