Investors in Drax have a problem. Shares in the company that produces 10% of the UK’s renewable power plunged last week after the Financial Conduct Authority launched a probe into its financial reports. The investigation centres on whether the company had misrepresented the origin of the biomass pellets it burns to create electricity. …But even assuming Drax does what it says it does, it has a second problem. Its business model, reliant on burning imported sustainable biomass to generate power, is inherently controversial. Net zero supporters don’t think Drax is sustainable enough, fearing that forestry companies might classify more wood as rubbish if selling waste pellets became lucrative. …Drax may not be easy to like, but it does make up an important part of the UK energy system. …So far, politicians have walked a line, extending support but cutting its size.