{"id":18115,"date":"2025-08-28T06:31:08","date_gmt":"2025-08-28T06:31:08","guid":{"rendered":"https:\/\/naijaglobalnews.org\/?p=18115"},"modified":"2025-08-28T06:31:08","modified_gmt":"2025-08-28T06:31:08","slug":"fca-opens-uk-investigation-into-drax-accounts","status":"publish","type":"post","link":"https:\/\/naijaglobalnews.org\/?p=18115","title":{"rendered":"FCA opens UK investigation into Drax accounts"},"content":{"rendered":"<p>\n<\/p>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description o3-type-body-base\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p>UK markets regulators have opened an investigation into Drax over the UK energy company\u2019s sourcing of wood for biomass pellets following accusations made by a former senior executive.<\/p>\n<p>The FTSE 250 group said on Thursday it had been notified by the Financial Conduct Authority that the agency had begun a probe covering the period from January 2022 to March 2024. It will also cover the company\u2019s annual results for the financial years 2021-23. Drax said it would co-operate with the FCA.<\/p>\n<p>The FCA\u2019s move follows claims from Drax\u2019s former top lobbyist in March that accused the company of \u201cmisleading the public, government and its regulator\u201d over its sourcing of wood for biomass pellets, during a claim for unfair dismissal at an employment tribunal.<\/p>\n<p>Earlier this year the UK government confirmed it would continue subsidising Drax\u2019s flagship biomass-fuelled power plant in Yorkshire after its current subsidy arrangement runs out in 2027.<\/p>\n<p><em>This is a developing story<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. UK markets regulators have opened an investigation into Drax over the UK energy company\u2019s sourcing of wood for biomass pellets following accusations made by a former senior executive. The FTSE 250 group said on Thursday<\/p>\n","protected":false},"author":1,"featured_media":18116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[7322,11021,5774,1037,1030],"class_list":{"0":"post-18115","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-accounts","9":"tag-drax","10":"tag-fca","11":"tag-investigation","12":"tag-opens"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/18115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18115"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/18115\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/18116"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}