FCA closes investigation into Drax over biomass sourcing (opens in new tab)

Regulator launched inquiry amid concerns that firm made misleading statements about origins of wood pelletsThe City watchdog has closed an investigation into the power generator Drax, after an almost 10-month review into the sourcing of wood pellets for its biomass power station.The Financial Conduct Authority said it had “reviewed thousands of pages” but that it “did not find evidence that justified any further action”.