FCA to take no action as it closes Drax probe

(Sharecast News) - Drax said on Thursday that the Financial Conduct Authority had closed its investigation into the company with no action to be taken. The FTSE 250 power generation group said the investigation, announced in August 2025, covered the period from January 2022 to March 2024 and related to historical statements about its biomass sourcing and the compliance of its 2021, 2022 and 2023 annual reports with listing and disclosure rules.

"We recognise the importance of compliance with our regulatory obligations and have worked constructively with the FCA throughout this investigation," said chief executive Will Gardiner.

He added that Drax was pleased the investigation had closed with no action being taken.

At 1100 BST, shares in Drax Group were down 1.73% at 740.5p.

Reporting by Josh White for Sharecast.com.

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