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Financials

UK court rejects Drax, Infinis case against govt on green tax change

LONDON, Feb 10 (Reuters) - Britain’s High Court has ruled against power producers Drax and Infinis in their case brought against the government for not providing enough notice when it announced the removal of a climate change tax exemption last year, Drax said on Wednesday.

“(The court) concluded that the government had not provided any specific and clear assurances on the continuation of exemptions and accordingly ruled in their favour,” Drax said in a statement.

The power producer said it was now considering the judgment in detail.

Drax previously said the removal of the green tax exemption, which it claims was passed without enough warning time, would lower core earnings by 60 million pounds this year. (Reporting by Karolin Schaps, editing by David Evans)

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