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 Richard Drax Richard Grosvenor Plunkett-Ernle-Erle-Drax (born 29 January 1958), known as Richard Drax, is a Conservative politician and a former British Army officer and journalist. Drax has served as Member of Parliament (MP) for South Dorset since the 2010 general election. He was re-elected in 2015 and 2017. Drax was born on 29 January 1958 in Westminster. He was privately educated at Harrow School before going to the Royal Agricultural College in Cirencester where he graduated with a diploma in rural land management in 1990, receiving a further diploma in journalism in 1995. Drax passed out from the Royal Military