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
Richard Drax Ireland. His great-uncle was the celebrated writer and playwright the 18th Lord Dunsany, and his maternal grandfather was General the Lord Weeks. His first wife ("divorced" 1997) was Zara Legge-Bourke, younger sister of the royal nanny Tiggy Legge-Bourke, relations of the Earl of Dartmouth. Drax married his second wife; Eliza, daughter of Commander James Dugdale (related to David Cameron); Drax has remarried and has four children in total. At least six of his ancestors, including John Samuel Wanley Sawbridge Erle-Drax and the 17th Lord Dunsany, were Members of Parliament for Dorset and Gloucestershire between the 1680s and 1880s. A cousin