I’ve written about DRAX before. Because of loopholes in UK and EU “climate” laws the largest coal power plant is switching from coal to wood pellets sources from the USA.
DRAX has made the news again.
The report says it has found ‘misleading statements by Enviva about its emissions and environmental impacts’ in its prospectus when it was floated on the New York stock exchange last April.
The report says Enviva has claimed that ‘burning wood in power plants reduces carbon emissions compared to coal’. But the study says Drax’s own data shows that while burning coal leads to emissions of 1,901lb of carbon dioxide per megawatt hour (Mwh), the figure for wood is significantly higher – 2,128lb per Mwh.
Enviva’s claim is only possible because of a UK and EU ‘policy loophole’ – which does not apply in America – classing biomass fuel such as wood pellets as ‘zero carbon’.
According to the study, Enviva has not made this clear. Its claim to the SEC that using its pellets ‘reduces’ emissions only applies to making and shipping the pellets, not burning them.
The complaint calls on the SEC to launch an investigation to ‘establish and enforce clear guidelines applicable to companies that may be claiming climate benefits’.
Drax produces eight per cent of the UK’s electricity – enough to power six million homes. Half of its six 650 megawatt (MW) generators have been converted from coal to burn wood pellets from America. Drax spokesman Andrew Brown yesterday confirmed the firm wants to adapt its remaining three furnaces.