Electricity sales powering Drax through the gloom

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The firm, owner of Britain's biggest coal-fired power plant, said it had sold contracts for 24.5 terawatt-hours of electricity for 2010, the majority of which had been agreed at an average price of £51.20 a megawatt-hour.

"While trading conditions in the commodity markets in which we operate have remained challenging, we continue to benefit from a very strong contracted position," it said.

"We have the ability to take advantage of Drax power station's flexibility and reliability to improve profitability"