London, Aug 28, 2025 (AFP) - UK watchdog probes power firm Drax over biomass source

NAMPA / AFP

2025-08-28

Drax, a British generator of electricity, said Thursday it is under investigation by the UK financial watchdog over its sourcing of wood for biomass, sending its shares tumbling in London. The Financial Conduct Authority (FCA) probe will cover the period from January 2022 to March 2024, as well as the company's annual reports between 2021 and 2023, Drax said in a statement. Drax has received billions of pounds (dollars) in UK government subsidies......

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