1-20 of 29 results for subject:"Drax Group"
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To ask the Secretary of State for Energy Security and Net Zero, further to Question 14369, whether he will place in the Library details of (a) the dates and participants of any meetings and (b) any written correspondence between his Department and the Financial Conduct Authority referring to its investigation...
To ask the Secretary of State for Energy Security and Net Zero, further to Question 14369, whether he will place in the Library details of (a) the dates and participants of any meetings and (b) any written correspondence between his Department and the Financial Conduct Authority referring to its investigation...
The Financial Conduct Authority (FCA) provided the link to their online press statement on 18 June, confirming that their investigation had concluded and no further action would be taken. The Department has had no other correspondence with the FCA on this matter, nor have any meetings taken place with the FCA.
To ask the Secretary of State for Energy Security and Net Zero, if he will ask Ofgem to disclose (a) when Drax Group plc first informed Ofgem of the existence of the December 2022 and February 2023 KPMG reports and (b) whether Ofgem obtained unfettered access to unredacted versions of...
To ask the Secretary of State for Energy Security and Net Zero, if he will ask Ofgem to disclose (a) when Drax Group plc first informed Ofgem of the existence of the December 2022 and February 2023 KPMG reports and (b) whether Ofgem obtained unfettered access to unredacted versions of...
As requested, I will ask Ofgem to write to the Rt hon Member in due course to set out responses to your questions.
Please note that Ofgem kept DESNZ officials suitably informed of the progress of its investigation and the documents it accessed in the course of reaching its findings, including the KPMG reports.
To ask the Secretary of State for Business and Trade, whether his Department has referred to the Financial Reporting Council the conduct of KPMG in relation to its reviews of Drax Group plc’s biomass sustainability reporting and the treatment of those findings in the company’s annual reports.
To ask the Secretary of State for Business and Trade, whether his Department has referred to the Financial Reporting Council the conduct of KPMG in relation to its reviews of Drax Group plc’s biomass sustainability reporting and the treatment of those findings in the company’s annual reports.
The Financial Reporting Council (FRC) has been in dialogue with other regulators including the Financial Conduct Authority and Ofgem regarding KPMG’s work in relation to Drax’s biomass sustainability reporting. As KPMG’s work for Drax was undertaken as an advisory review rather than as statutory audit work, this does not fall within the FRC’s statutory audit regulatory remit. The FRC continues to monitor this case and will consider any further relevant information.
To ask the Chancellor of the Exchequer, pursuant to the answer of 7 July 2026 to Question 14370 on Drax Group, if she will confirm that no Minister or special adviser have had communication of any kind with the Financial Conduct Authority on its investigation into Drax Group plc.
To ask the Chancellor of the Exchequer, pursuant to the answer of 7 July 2026 to Question 14370 on Drax Group, if she will confirm that no Minister or special adviser have had communication of any kind with the Financial Conduct Authority on its investigation into Drax Group plc.
I refer the Rt honourable Member to the answers given to his questions in PQ UIN 14370 and UIN 14371 on 30 June 2026.
To ask the Chancellor of the Exchequer, whether she asked (a) her officials and (b) officials in the Department for Energy Security and Net Zero to establish whether communications had taken place between Ministers or special advisers and the Financial Conduct Authority on its investigation into Drax Group plc.
To ask the Chancellor of the Exchequer, whether she asked (a) her officials and (b) officials in the Department for Energy Security and Net Zero to establish whether communications had taken place between Ministers or special advisers and the Financial Conduct Authority on its investigation into Drax Group plc.
I refer the Rt honourable Member to the answers given to his questions in PQ UIN 14370 and UIN 14371 on 30 June 2026.
To ask the Chancellor of the Exchequer, whether HM Treasury has been informed whether the Financial Conduct Authority’s investigation into Drax Group plc included consideration of the company’s public statement of 6 October 2022 concerning biomass sourcing.
To ask the Chancellor of the Exchequer, whether HM Treasury has been informed whether the Financial Conduct Authority’s investigation into Drax Group plc included consideration of the company’s public statement of 6 October 2022 concerning biomass sourcing.
I refer the Rt honourable Member to the answers given to his questions in PQ UIN 14370 and UIN 14371 on 30 June 2026.
To ask the Chancellor of the Exchequer, whether HM Treasury has been informed that the Financial Conduct Authority requested and obtained unfettered access to unredacted versions of (a) the December 2022 and February 2023 KPMG reports, (b) the February 2023 Slaughter and May report and (c) the December 2022 company...
To ask the Chancellor of the Exchequer, whether HM Treasury has been informed that the Financial Conduct Authority requested and obtained unfettered access to unredacted versions of (a) the December 2022 and February 2023 KPMG reports, (b) the February 2023 Slaughter and May report and (c) the December 2022 company...
I refer the Rt honourable Member to the answers given to his questions in PQ UIN 14370 and UIN 14371 on 30 June 2026.
To ask the Secretary of State for Energy Security and Net Zero, whether he or any official or special adviser acting on his behalf has had any communication with the Financial Conduct Authority since 1 May 2026 on its investigation into Drax Group plc.
To ask the Secretary of State for Energy Security and Net Zero, whether he or any official or special adviser acting on his behalf has had any communication with the Financial Conduct Authority since 1 May 2026 on its investigation into Drax Group plc.
Neither the Secretary of State nor Special advisers have had any communications with the Financial Conduct Authority on this matter. On 18 June, the Financial Conduct Authority provided my departmental officials with a link to the FCA’s publicly available statement concerning the closure of their investigation. The notice can be found here FCA closes investigation into Drax Group PLC | FCA. We have no record of any further communications.
To ask the Chancellor of the Exchequer, whether she will ask the Financial Conduct Authority to set out the timeline of its enquiries into Drax Group plc from August 2024 to the closure of its investigation, including the date on which the decision to take no further action was reached...
To ask the Chancellor of the Exchequer, whether she will ask the Financial Conduct Authority to set out the timeline of its enquiries into Drax Group plc from August 2024 to the closure of its investigation, including the date on which the decision to take no further action was reached...
The FCA is an independent regulator, and this independence is vital to its role. While the Government is responsible for the overall framework for financial services regulation, it cannot intervene in the FCA's operational decision-making, including its investigative and enforcement activities.
Its credibility, authority and value to consumers would be undermined if it were possible for the government to do so.
To ask the Chancellor of the Exchequer, whether any Minister or special adviser has had any communication with the Financial Conduct Authority on its investigation into Drax Group plc since August 2025.
To ask the Chancellor of the Exchequer, whether any Minister or special adviser has had any communication with the Financial Conduct Authority on its investigation into Drax Group plc since August 2025.
The FCA is an independent regulator, and this independence is vital to its role. While the Government is responsible for the overall framework for financial services regulation, it cannot intervene in the FCA's operational decision-making, including its investigative and enforcement activities.
Its credibility, authority and value to consumers would be undermined if it were possible for the government to do so.
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the suitability of Drax to receive biomass subsidy in the context of whistleblowing allegations against that company.
To ask the Secretary of State for Energy Security and Net Zero, what assessment his Department has made of the suitability of Drax to receive biomass subsidy in the context of whistleblowing allegations against that company.
It has not proved possible to respond to the hon. Member in the time available before Prorogation.
To ask the Secretary of State for Energy Security and Net Zero, with reference to the report undertaken by KPMG in December 2022, whether he has seen an unredacted version of the statements made by the former company secretary Brett Gladden.
To ask the Secretary of State for Energy Security and Net Zero, with reference to the report undertaken by KPMG in December 2022, whether he has seen an unredacted version of the statements made by the former company secretary Brett Gladden.
I can confirm that I have not seen any statements (redacted or otherwise) made by the Drax former company Secretary Brett Gladden.
To ask the Secretary of State for Energy Security and Net Zero, what steps his Department plans to take to verify the proportion of wood burnt at Drax that is sustainable.
To ask the Secretary of State for Energy Security and Net Zero, what steps his Department plans to take to verify the proportion of wood burnt at Drax that is sustainable.
Monitoring and enforcement under the existing Renewables Obligation (RO) and Contract for Difference (CfD) schemes are the responsibility of the Low Carbon Contracts Company (LCCC) and Ofgem respectively, who conduct independent checks to ensure compliance with the sustainability requirements.
Under the new Low-Carbon Dispatchable CfD the monitoring, reporting and verification regime has been enhanced by extending LCCC’s audit rights across Drax’s global supply chain, increasing the audit standard from ‘limited’ to ‘reasonable’ assurance, and requiring sustainability data to be reported down to the level of individual pellet mill facilities. This will provide increased confidence that the biomass used is 100% sustainable.
To ask the Secretary of State for Energy Security and Net Zero, what standards of forest sustainability are required of Drax for the supply of electricity to (a) private data centres and (b) the National Grid.
To ask the Secretary of State for Energy Security and Net Zero, what standards of forest sustainability are required of Drax for the supply of electricity to (a) private data centres and (b) the National Grid.
Drax must ensure its power generation complies with the terms of its subsidy agreements, currently provided for by the Renewables Obligation (RO) and Contract for Difference (CfD) schemes. These agreements include wide-ranging environmental protections addressing biodiversity, greenhouse gas emissions, legal and sustainable harvesting, and maintaining forest productivity, and require at least 70% of woody biomass to be sustainably sourced.
From 2027 these arrangements will be replaced by the new Low-Carbon Dispatchable CfD. This will require all of Drax’s generation to comply with strengthened sustainability standards, including an obligation to ensure that 100% of biomass used is sustainably sourced. We have also tightened the standard of supply chain greenhouse gas emissions and excluded primary feedstocks sourced from primary and old growth forests from receiving support payments.
To ask the Secretary of State for Energy Security and Net Zero, whether Drax is contractually required to disclose to the Government where the trees used in the pellets it purchases were cut down.
To ask the Secretary of State for Energy Security and Net Zero, whether Drax is contractually required to disclose to the Government where the trees used in the pellets it purchases were cut down.
Biomass generators must currently comply with the reporting requirements of the Renewables Obligation and Contract for Difference (CfD). These include reporting sustainability profiling data for biomass which includes the country of purchase of each fuel consignment. From 2027 under the new Low-Carbon Dispatchable CfD, enhanced reporting obligations will require Drax to report the country of origin, including the identification of each processing plant within the supply chain.
To ask the Secretary of State for Energy Security and Net Zero, what recent discussions he has had with Drax Group plc on the postponement of the Cruachan II pumped hydro storage project.
To ask the Secretary of State for Energy Security and Net Zero, what recent discussions he has had with Drax Group plc on the postponement of the Cruachan II pumped hydro storage project.
Details of Ministers' and Permanent Secretaries' meetings with external individuals and organisations are published quarterly in arrears on GOV.UK.