Basic Search  |  Summaries  |  Advanced SearchPenalty: £25,000,000
Year: 2024
Date: 29 August, 2024
Offence Group: consumer-protection-related offences
Offence Type: energy market violation
Violation Description: Drax agreed to pay £25 million to Ofgem's Voluntary Redress Fund in settlement of a finding the company was in breach of annual profiling reporting requirements relating to the Renewables Obligations scheme, with an absence of adequate data governance and controls in place that had contributed to them misreporting data in relation to their annual profiling submission to Ofgem, and being unable to provide Ofgem with sufficient evidence demonstrating how its CP20 annual profiling submission had been arrived at and unable to support the reliability of its profiling data reporting of forestry type and sawlogs for Canadian consignments for that same period.
Settlement Type: Settlement
Agency: Office of Gas and Electricity Markets
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: utilities and power generation
Specific Industry of Parent: power generation
Source of Data: (click here)