Three years ago, Drax coal-fired power station group, was virtually bankrupt. This year however, Drax shares have been the best performing blue chip stock, with an 'electrifying' 85.6 per % share price increase. Drax has been benefiting from the massive shift back to coal for electricity generation last winter, thanks to supply difficulties with Natural Gas. With North Sea production of gas in terminal decline, the UK has had to turn to greater and great imports of increasingly expensive Gas from Russia and elsewhere. This has sparked a rapid revival of fortunes for coal fired power generation and a staggering 17% increase over the previous year.
Nether-the-less, Drax is suffering an annoying blip in it's new found fortunes as the climate camps threat to close down the power plant has been accompanied by a share price slide over the last couple of days. Today's trading saw a further decline as Drax shares lost 1.33% to 890p.