Ofgem’s announcement states that the opening of an investigation does not imply any finding of non-compliance. It has separately confirmed that it has not established any non-compliance that would affect the issuance of Renewable Obligation Certificates (ROCs) to Drax, and therefore the associated financial benefit.
Like all energy generators, Drax receives regular requests from Ofgem and continues to cooperate fully throughout this process.
Last year Drax appointed a third party to independently verify the accuracy of its biomass sustainability and profiling data as part of an ongoing process. Drax is confident in the compliance of its biomass with the Renewables Obligation criteria.
A link to the Ofgem statement is below.
Drax Investor Relations: Mark Strafford
+44 (0) 7730 763 949
Drax External Communications: Chris Mostyn
+44 (0) 7548 838 896