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The Latest Breaking News from Drax

Make Drax wait for its next subsidy deal. An FCA investigation is serious

Ministers should find out what the regulator says before signing away a further £1.8bn of public money

The Guardian - UK

Blue chips falter as FTSE outshone by European peers

The FTSE 100 index closed down 38.68 points, 0.4%, at 9,216.82.

Evening Standard

Drax’s shares plunge as City watchdog investigates sourcing of wood pellets

FCA inquiry into biomass power station relates to disclosures and transparency over two-year period

The Guardian - UK

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Drax under investigation by City watchdog over biomass sourcing

The probe comes after claims by Drax’s former head of public affairs that the company had misled over its sourcing of wood for biomass pellets.

Evening Standard

Plans for 1500 solar panels for historic Scottish hydro power stations

EIGHT historic hydro power stations across the south west of Scotland could have hundreds of solar panels fitted to them ...

The National (Scotland)

Cutting down forests to feed Drax incurs a huge carbon cost

Letters: Alex Sobel MP writes paying Drax billions of pounds to burn forests is not a coherent climate strategy; Tom Blandford suggests Drax is a stepping stone to a low carbon future; Peg Putt deplores its emissions ‘reductions’ scheme; plus a letter from William Carmichael

The Guardian - UK

Ancient trees are shipped to the UK, then burned – using billions in ‘green’ subsidies. Stop this madness now

The evidence against the Drax power station is damning, yet the government wants to continue its massive public funding, says campaigner Dale Vince

The Guardian - UK

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Calls for Drax to be forced to fully disclose its biomass sourcing

Campaigners say the publication of key KPMG report must be a condition to MPs extending subsidies scheme

The Guardian - UK

UK ‘could take more US wood pellets to burn for electricity’ amid trade talks

The US agriculture secretary said the US is ‘100% confident’ that its wood chips meet the UK’s sustainability requirements.

Evening Standard

Drax abandons AGM after confrontation with green activists

Between 10 and 20 protesters are forcibly removed after challenging the board about use of woody biomass

The Guardian - UK

Drax needs a better policeman

Public confidence in the UK biomass industry is low – robust checks are needed to ensure every wood pellet its power plant burns is sustainable

The Guardian - UK

Biomass power generators could be ‘marking own homework on sustainability’

The Public Accounts Committee said certification schemes aiming to ensure biomass has been sustainably sourced may not be strong enough.

The Independent UK

Drax is the subsidy show that goes on and on

Government cranks handle again for group owning Yorkshire power plant because cheaper generating capacity not in place

The Guardian - UK

FTSE 100 strikes another record high as BP shares jump

The FTSE 100 finished 67.27 points, or 0.77%, higher to end the day at 8,767.80.

Evening Standard

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The Guardian - UK

UK halves subsidies for Drax and says it must use 100% sustainable wood

North Yorkshire power plant has been criticised for burning wood pellets sourced from US and Canada

The Guardian - UK

Green campaigners fear UK to renew subsidies to Drax power station

Billions of pounds from energy bill-payers to run out in 2027 but could be extended as soon as Monday

The Guardian - UK

Wes Streeting heckled by climate protesters at Fabian Society address

Speech calling for unity against ‘populist right’ interrupted by two women opposed to Drax power plant subsidies

The Guardian - UK

Burning wood for power not necessary for UK’s energy goals, analysis finds

Experts say UK should stop biomass burning as electricity sector decarbonisation by 2030 can be achieved without it

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The Independent UK

How mega-polluters take advantage of billions in green loans

Some of the world’s biggest polluters are reaping billions of dollars through a lax form of green finance, a new investigation by The Examination has found

The Guardian - UK

Anger at UK’s ‘bonkers’ plan to reach net zero by importing fuel from North Korea

Government criticised over list of potential countries for sourcing biomass, which also includes Afghanistan

The Guardian - UK

Despite the end of coal-fired power, the UK’s green energy future is still unclear

Letters: The last coal-fired power station is closed, but what about the Drax station still burning trees, asks Donald Simpson. Also letter from Jude McCarthy

The Guardian - UK

Why ‘the UK’s biggest carbon emitter’ receives billions in green subsidies

TheDrax power plant burns 7m tonnes of biomass pellets a year and generates 4% of UK’s electricity needs

The Guardian - UK

After wood pellet reporting failures, it’s time for a proper review of Drax’s subsidies

Before biomass firm is promised a penny extra from billpayers, Ed Miliband should commission a review of its business model

The Guardian - UK

Drax to pay £25m after regulator finds wood pellet reporting failures

Energy regulator’s investigation found ‘inadequate data governance’ over sourcing of wood to fuel power station

The Guardian - UK

US stocks rise on faster economic growth despite Nvidia nerves – as it happened

Live coverage as US GDP figures show faster economic growth but Nvidia share price falls in after hours trading

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