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
Hugo Drax the Drax of the novel, he is implied to be French (as he was portrayed by French actor Michael Lonsdale), although this is never explicitly mentioned. Though Drax lives in California, he resides in a fully imported French château for which "every stone [was] brought from France" – Drax also supposedly owns the Eiffel Tower, but wasn't allowed to export it from France in a similar manner because the French government wouldn't issue him an export permit for it. Drax portrays himself as an accomplished pianist, as evidenced by his recital of Chopin's "Raindrop" Prelude in D-flat major (op. 28)