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
Read School, Drax asks students to remember Charles Reade 'and all other our benefactors'. Since the demolition of Adamson House at the west end of the village, which has previously served as the junior school and since becoming co-educational the girls boarding facilities, all facilities are located on the one remaining campus at the east end of the village. None of the original 17th-century school buildings survive into the present day. Instead the core school buildings date from the grammar school era, built in 1853 and 1908. The memorial library was built in 1954 by the Drax Grammar School Old Boys’ Association in