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
Drax Project Drax Project Drax Project is a four piece New Zealand band that formed in 2014. Recording a mix of jazz, R&B and pop music, the band came to prominence in 2018 with the single "Woke Up Late", which was certified platinum by RIANZ. Drax Project began as buskers in Wellington in 2013, composed of Shaan Singh on saxophone and Matt Beachen on drums (the origin of the band's name is a portmanteau of 'drums' and 'sax'). Drax Project mostly performed pop song covers while busking at Courtenay Place, Wellington and performing at local bars and events. Double bassist Sam Thomson