FCA closes investigation into Drax over biomass sourcing
Key takeaways
- Drax said it had ‘worked constructively with the FCA throughout this investigation’.
- Prefer the Guardian on Google The City watchdog has closed an investigation into the power generator Drax after an almost 10-month review into the sourcing of wood pellets for its biomass station.
- The Financial Conduct Authority said it had “reviewed thousands of pages” but that it “did not find evidence that justified any further action”.
Why this matters: a developing story that could shape the day's news cycle.
Drax said it had ‘worked constructively with the FCA throughout this investigation’. Photograph: Christopher Furlong/Getty View image in fullscreen Drax said it had ‘worked constructively with the FCA throughout this investigation’. Photograph: Christopher Furlong/Getty Drax Drax cleared after investigation into sourcing of wood pellets Generator’s shares rise as regulator finds no evidence of misleading statements about fuel’s sustainability
Prefer the Guardian on Google The City watchdog has closed an investigation into the power generator Drax after an almost 10-month review into the sourcing of wood pellets for its biomass station.
The Financial Conduct Authority said it had “reviewed thousands of pages” but that it “did not find evidence that justified any further action”.