UK’s biggest power station to pay £25mn for historic data failings but Ofgem probe finds no evidence of environmental breaches
Back to the future
Investing in Drax is not for the faint-hearted, with political announcements knocking the share price
Government has failed to evaluate industry carbon footprint claims, says NAO
Ministers plan for bill-payers to continue paying levy beyond 2027 deadline despite criticism from green campaigners
Building materials chief receives €3mn
Power group’s decision comes despite government request to maintain North Yorkshire facility
Electricity network operator seeks deal with UK power company amid concerns over more energy market shocks
Shares in energy group weaken after regulator Ofgem escalates probe it began last year
Also in today’s newsletter, UK power provider Drax crosses the Atlantic
Company to spend $4bn on two new biomass plants in southern US with potentially more to follow
Ofgem commissions external audit into whether energy company complied with UK rules
Rollercoaster ride follows failure of carbon capture project to make it on to UK government’s priority list
National Grid says power supply situation has improved after icy weather disrupts travel and closes schools in parts of country
The UK should focus on energy that is unequivocally renewable: wind and solar
Kwarteng says shipping wood pellets from Louisiana is costly and ‘doesn’t make any sense’
Ministers Zahawi and Kwarteng to meet power executives to discuss remedies for soaring household bills
Plus, how many high-polluting companies slide by in the bond market
Adjusted earnings expected to be at top end of expectations
Producers of wood-based fuels including Drax have objected to classifying some forest areas as ‘no go’ for harvesting trees
In British Columbia, a hub of biomass production, activists want stricter controls to protect ancient trees
UK power company says it aims to double pellet production despite critics
Campaigners say power station wrongly portrays burning wood pellets as carbon neutral
Generators have been called back into action to help plug energy supply gap
Position called into question as energy group sought government subsidies
