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Port's partner to face financial watchdog probe
Shields Gazette
|September 01, 2025
A major energy company which imports its main product through South Tyneside's Port of Tyne is being investigated by the UK's financial watchdog.
Drax is facing a probe by the Financial Conduct Authority (FCA) into the source of wood for the biomass pellets it uses as fuel to create electricity. The pellets are found globally and transported by sea to the port, then moved by rail to Drax's giant power plant in Selby, North Yorkshire.
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