Drax Group in 2002. Many companies experienced financial problems, and Drax Power Station’s major customer went into administration, triggering financial difficulties for Drax. Following a series of standstill agreements with its creditors, the AES Corporation and Drax parted company in August 2003. During the restructuring, a number of bids were received from companies wishing to take a stake in the ownership of Drax, but creditors voted overwhelmingly to retain their interest in Drax. In December 2003, the restructuring was completed and Drax came under the ownership of a number of financial institutions. Almost exactly two years later, on 15 December 2005, Drax
Eggborough power station February 2016 it was announced that the plant would continue to operate for at least another twelve months through to March 2017. On 1 August it was announced that a further unit would be available to run commercially from mid September 2016. Units 1 & 2 will generate for National Grid under the Supplementary Balance Reserve contracts providing 775 MW Unit 4 returned to commercial operation on 16 September 2016 to generate 440 MW into the wholesale market following six months of deep maintenance. On 26 August 2016 Eggborough Power Limited (EPL) proposed to develop a new Eggborough Gas-Fired Power