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
Reginald Drax Their son is Henry Walter Plunkett-Ernle-Erle-Drax, who is the father of Richard Drax, Conservative MP for South Dorset since the 2010 general election. Reginald Drax Admiral the Hon. Sir Reginald Aylmer Ranfurly Plunkett-Ernle-Erle-Drax, KCB, DSO, JP, DL (28 August 1880 – 16 October 1967) was a British admiral. He is often referred to as Reginald Plunkett or (after 1916) Reginald Drax. He was the younger son of John William Plunkett, 17th Baron of Dunsany (1853–1899) and his wife, the former Ernle Elizabeth Louisa Maria Grosvenor, née Burton, later Ernle-Erle-Drax (1855–1916). His elder brother was Lord Dunsany, a prolific writer and