Call to cut UK subsidies as Drax power station profits nearly double

Critics say power generator would make loss without public support as firm boosts dividend after 84% rise in profits to £731m

Ministers are under pressure to cut subsidies to the operator of Britain’s biggest power station after it reported an 84% increase in annual profits, helped by high electricity prices.

Drax, the power generator which owns the eponymous plant in North Yorkshire, posted underlying profits of £731m for 2022, up from £398m a year earlier.