FCA opens the UK investigation into Drax accounts

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UK market organizers have opened an investigation into Drax about the UK’s energy company sources in the biomus in the wake of charges by a former executive official.

The FTSE 250 Group said on Thursday that it was notified by the Financial Behavior Authority that the agency had started an investigation covering the period from January 2022 to March 2024. The annual results of the company will also cover the financial years 2021-23. Drax said he will cooperate with FCA.

FCA step Follow the claims Among the previous pressure groups in Drax in March, which accused the company of “misleading the public, the government and the organizer” because of its sources of wood in favor of the vital bloc’s pellets, during a demand for an unfair dismissal in an employment court.

Earlier this year, the UK government confirmed that it will continue to support the biomedical power plant fueled by the bloc in Drax, Yorkshire, after the current support arrangement is running out in 2027.

This is a developing story