Drax power station build a 626 MW oxygen-fuelled combustion power station adjacent to the existing Drax site. National Grid would simultaneously construct a pipeline to transport to the Yorkshire coast for sequestration. In July 2014 the project was awarded €300 million funding from the European Commission. In September 2015 Drax announced it would not be making any further investments into the CCS scheme after completion of the feasibility study because negative changes to government support for renewable energy had made the project too financially risky, plus drops in the company's share price due to the same uncertainty had reduced Drax's ability to raise
Richard Drax served. He was promoted captain on 10 March 1986. He relinquished his British Army commission on 9 September 1987, thereby retiring after nine years' service as a Coldstreamer. Drax worked at York's "Evening Press" as a reporter in 1991, before joining BBC South where he appeared on both radio and television media, including the daily television news programme "South Today". Selected as a Conservative prospective parliamentary candidate in July 2006, at the general election in May 2010 Drax defeated the incumbent Labour Member of Parliament for South Dorset, Jim Knight, "later" Baron Knight of Weymouth. Drax retained his seat in