31st May 2023 09:38
Drax Group PLC - Yorkshire, England-based power generator - Acknowledges Ofgem's announcement of an investigation into a possible breach by Drax Power Ltd of annual biomass profiling reporting requirements under the Renewables Obligation scheme. Ofgem however notes that the opening of an investigation does not imply any finding of non-compliance. Drax says Ofgem has separately confirmed that it has not established any breach that would affect the issuance of Renewable Obligation Certificates or associated financial benefits to Drax. Adds that last year it appointed an independent third party to verify biomass sustainability and profiling data. Drax says it "continues to cooperate fully" throughout Ofgem's investigation and " is confident in the compliance of its biomass with the Renewables Obligation criteria." Read More
