Generator’s shares rise as regulator finds no evidence of misleading statements about fuel’s sustainability

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The City watchdog has closed an investigation into the owner of the Drax power plant after an almost 10-month review into whether the company’s sustainability claims mislead shareholders.

The Financial Conduct Authority said it had “reviewed thousands of pages” of “complex material” relating to the company’s sourcing of wood pellets for the Drax power plant in Selby, North Yorkshire, but “did not find evidence that justified any further action”.