Drax Group: Financial Conduct Authority closes investigation with no action to be taken

The Financial Conduct Authority has concluded its investigation into the energy company Drax after a review lasting nearly ten months. The inquiry focused on whether the firm made misleading statements concerning the origins of wood pellets used for its biomass power station. After examining thousands of pages of evidence, the regulator determined that no further action was justified. Consequently, the watchdog has officially closed the case with no penalties imposed on the Yorkshire-based power generator.