Drax Slumps on UK Probe Into Controversial Biomass Sourcing
Electricity pylons alongside the Drax Power Station near Selby, UK.
Photographer: Dominic Lipinski/BloombergDrax Group Plc fell the most in more than two years in London trading after saying it’s facing a probe by the UK’s Financial Conduct Authority.
The investigation relates to historical statements the power producer made about its biomass sourcing, as well as the compliance of its annual reports, Drax said Thursday.