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
Edward Drax Free Edward Drax Free The Reverend Edward Drax Free DD (1764–1843) was an English clergyman. The youngest son of a clergyman, Edward Drax Free became a member of St John's College, Oxford, where he proceeded to the degrees of BA, MA, BD, and DD and was eventually elected to a Fellowship. He was also appointed Vicar of St Giles' Church, Oxford. In Oxford he lived a very scandalous life and was on the verge of being expelled from St John's College when he was appointed Rector of the Church of All Saints, Sutton, Bedfordshire in 1808. It is alleged that he