UK power company Drax’s shares plunge amid investigation over source of ‘renewable’ fuel

<p>Investigation by UK watchdog relates to historical statements on wood pellets for power station from January 2022 to March 2024</p><ul><li><p><a href="https://www.theguardian.com/business/live/2025/aug/28/tesla-sales-fall-across-europe-byd-bond-market-shares-ftse-business-live-news-updates">Business live – latest updates</a></p></li></ul><p>The power generator Drax has revealed it is under investigation by the City watchdog over “historical statements” made about the sourcing of wood pellets for its biomass power station.</p><p>The Financial Conduct Authority (FCA) <a href="https://www.fca.org.uk/news/statements/investigation-drax-group">confirmed the investigation</a> on Thursday, which will cover a period of more than two years between January 2022 to March 2024 and examine whether the company complied with disclosure and transparency rules, including in three annual reports.</p> <a href="https://www.theguardian.com/business/2025/aug/28/drax-investigated-by-uk-watchdog-over-historical-statements-on-biomass-sourcing">Continue reading...</a>