Drax Group One significant change was the emergence of vertically integrated companies, combining generation, distribution and supply interests. In certain cases, it became necessary for generation assets to be divested, and so in 1999 Drax Power Station was acquired by the US-based AES Corporation for £1.87 billion (US$3 billion). A partial re-financing of Drax was completed in 2000, with £400 million of senior bonds being issued by AES Drax Holdings, and £267 million of subordinated debt issued by AES Drax Energy. Increased competition, over-capacity and new trading arrangements contributed to a significant drop in wholesale electricity prices, which hit an all-time low
Read School, Drax Read School, Drax The Read School is a boarding, day, and independent school, based in the rural village of Drax, near Selby, North Yorkshire. Formerly a boys' school, it became co-educational in 1996. As of 2010 it hosts approximately 350 boys and girls between the ages of 3-18, comprising a senior school of approximately 280 and a junior school of around 70 children. Drax grammar school was founded in 1667 by Charles Reade, who wanted boys from poor families to be able to "read, write and cast accounts" and to teach them "Latin, Greek and Hebrew and other languages as