Drax Probed by U.K. Regulator Over Biomass Sourcing, Reporting

Dow Jones

08/28

By Elena Vardon

Power producer Drax said the U.K.'s financial watchdog kicked off an investigation into its biomass sourcing and on its recent annual reports.

The company said Thursday that the Financial Conduct Authority earlier this week started a probe into certain historical statements regarding its biomass sourcing covering the period from January 2022 to March 2024.

The watchdog is also reviewing whether Drax's annual reports for 2021, 2022 and 2023 comply with the listing rules, disclosure guidance and the transparency rules.

"The company will cooperate with the FCA as part of their investigation," Drax said.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

August 28, 2025 02:34 ET (06:34 GMT)

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