Drax, Infinis Challenge U.K. Move on Tax Status for Renewables
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Drax Group Plc and Infinis Energy Plc sought judicial review for a decision by the U.K. Treasury to remove a tax exemption for electricity generated from renewable sources, saying the notice period given was too short.
The companies, which both are investing in renewable power, asked for a court review of the decision saying they were given “only 24 days” notice of the change, according to a statement on Wednesday. They asked the court to consider a “reasonable and proportionate” notice period.