UK power company Drax’s shares plunge amid investigation over source of ‘renewable’ fuel

Investigation by UK watchdog relates to historical statements on wood pellets for power station from January 2022 to March 2024Business live – latest updatesThe power generator Drax has revealed it is under investigation by the City watchdog over “historical statements” made about the sourcing of wood pellets for its biomass power station.The Financial Conduct Authority (FCA) confirmed the investigation on Thursday, which will cover a period of more than two years between January 2022 to March 2024, and examine whether the company complied with disclosure and transparency rules, including in three annual reports. Continue reading...

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Sports car maker Lotus plans to cut up to 550 jobs at Norfolk factory

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