FCA closes investigation into Drax over biomass sourcing
The UK's Financial Conduct Authority has closed its investigation into Drax, the country's largest biomass power generator, finding no evidence to justify further action regarding its wood pellet sourcing. The inquiry was launched following concerns that the company made misleading statements about the sustainability of its fuel supply.
Why it matters
This decision impacts the credibility of biomass as a renewable energy source and the regulatory oversight of companies receiving significant government green energy subsidies.
The Drax power station in North Yorkshire burns biomass wood pellets and generated about 4.5% of Great Britain’s electricity last year Photograph: Christopher Furlong/Getty Images View image in fullscreen The Drax power station in North Yorkshire burns biomass wood pellets and generated about 4.5% of Great Britain’s electricity last year Photograph: Christopher Furlong/Getty Images Drax FCA closes investigation into Drax over biomass sourcing Regulator launched inquiry amid concerns that firm made misleading statements about origins of wood pellets
The article presents the regulator's findings neutrally while acknowledging the ongoing criticisms from environmental groups.
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