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 by the Soviets and SMERSH. Drax uses his knowledge of the impending disaster to play the stock market, planning to make a huge profit from his own terrorist act. Bond, with the help of female Special Branch agent Gala Brand, sabotages Drax's missile launch and changes the coordinates of the target back to the North Sea, where after the missile was launched Drax and his men had escaped so that they could watch as London was destroyed. In the event, the Soviet submarine carrying Drax is destroyed by the blast of the nuclear warhead. The novel involved the idea of