UK Committee Questions Drax Over Use of Power Subsidy Loophole.

Drax Group Plc, a biomass energy company, defended its use of subsidy programs during the energy crisis that allowed it to make significant profits. The company reduced output at one unit, which would have resulted in £639 million being returned to consumers, while increasing production at other units without revenue caps. Lawmakers questioned the fairness of the subsidy system, with one Conservative Party lawmaker calling for a reevaluation of how government subsidies work. Drax is currently seeking further support until 2030, and is under investigation by regulator Ofgem for its sustainability reporting. [Extracted from the article]

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