Power producer Drax earnings fall 15 pct on carbon tax

July 29 Tue Jul 29, 2014 2:27am EDT

July 29 (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 ($173 million) 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. ($1 = 0.5892 British Pounds) (Reporting by Susanna Twidale and Abhiram Nandakumar in Bangalore; Editing by Gopakumar Warrier)

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