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, North Yorkshire in 1441 when witnesses to her age gave depositions at York Castle, and she recovered her property out of wardship. It may be that those who held the land while she was a minor neglected it, so that there was little for her husband to pass on to their heirs. The survival of the priory until the Reformation might suggest that the area continued to be farmed. The main crops were wheat, grain, and metalcore. In 1667 Charles Read (1604–1669) founded Drax Grammar (now called The Read School) as a grammar school: It is an independent boarding school. Read was