Drax cleared after investigation into sourcing of wood pellets (opens original article in a new tab)

The Financial Conduct Authority closed its investigation into Drax, finding no evidence of misleading statements regarding biomass sourcing. Drax, which operates the UK's largest biomass power station, received £999m in subsidies in 2025. The company's shares rose 1.2% after the investigation closure.

• FCA closed investigation into Drax over biomass sourcing after 10-month review
• No evidence found of misleading statements or omitted information in Drax's reports
• Drax received £999m in subsidies in 2025 for generating 4.5% of GB's electricity