Drax: Yorkshire energy company faces FCA probe over sourcing of wood for biomass pellets

Energy company Drax is under investigation by the UK’s financial watchdog over the firm’s sourcing of wood for biomass pellets. The London-listed group said the Financial Conduct Authority (FCA) probe covers the period from January 2022 to March 2024 and will also look at compliance of Drax’s annual reports from 2021, 2022 and 2023. Drax said it will “co-operate with the FCA as part of their investigation”. #drax