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
James Drax a royalist faction seized control of Barbados in 1650, James and William Drax were exiled from the island, along with other prominent parliamentarians. They returned to London, where they lobbied the House of Commons to send an expedition to retake the island. In 1651, Drax sailed in the fleet designed to re-conquer Barbados, and he was part of the team that went ashore to negotiate the surrender of the island. Restored to his estates and power, Drax once again took up a leading role in the governance of the colony. It is thought that Drax Hall, the impressive seventeenth-century manor