Drax responds to Ofgem investigation

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Last month, Ofgem commissioned a probe into Drax's adherence to sustainability rules. The UK energy regulator tasked US consultants with examining the firm over its use of biomass, having launched an investigation into Drax in 2022, according to documents procured via a Freedom of Information application.
Ofgem is "investigating whether Drax Power Limited is in breach of annual profiling reporting requirements relating to the Renewables Obligations scheme and other related matters."
Drax has released a statement related to the investigation:
"Ofgem’s announcement states that the opening of an investigation does not imply any finding of non-compliance. It has separately confirmed that it has not established any non-compliance that would affect the issuance of Renewable Obligation Certificates (ROCs) to Drax, and therefore the associated financial benefit.
"Like all energy generators, Drax receives regular requests from Ofgem and continues to cooperate fully throughout this process.
"Last year Drax appointed a third party to independently verify the accuracy of its biomass sustainability and profiling data as part of an ongoing process. Drax is confident in the compliance of its biomass with the Renewables Obligation criteria."

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