It comes only weeks after government said biomass subsidies allowed Drax Group to make ‘unacceptably large profits’

The owner of the Drax power plant has reported its highest earnings ever only weeks after the government admitted that its controversial subsidies for biomass power had allowed it to make “unacceptably large profits”.

Drax Group said its adjusted earnings rose to £1.06bn last year, narrowly above its profits of £1.01bn the year before and the highest level in the company’s 35 year history.