Power producer Drax earnings fall 15 percent on carbon tax

(Reuters) - British power producer Drax Group Plc reported a 15 percent fall in first-half earnings, hurt by increasing cost of UK carbon tax. Drax, the operator of one of Europe's largest coal-fired power stations, said earnings before interest, tax, depreciation, and amortisation (EBITDA) fell to 102 million pounds for the six months ended June 30, from 120 million pounds a year ago. However, the company stood by its outlook for the full year. (Reporting by Susanna Twidale and Abhiram Nandakumar in Bangalore; Editing by Gopakumar Warrier) Read More http://ift.tt/1qeuBFp