Drax Group plc (GB:DRX) has released an update.
Ofgem has concluded its investigation into Drax Group’s biomass profiling data, finding no evidence of sustainability criteria violations or incorrect issuance of Renewable Obligation Certificates. Drax acknowledges the importance of accurate reporting and is investing in improvements, agreeing to a £25 million voluntary payment to Ofgem’s redress fund and committing to an independent audit of its data. This move ensures continued compliance and consumer protection, further solidifying Drax’s commitment to sustainability in its operations.
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