Dynegy executed agreements with the PJM System Operator and the Midwest Independent System Operator to move the vast majority of Dynegy’s Hennepin Power Station’s energy and capacity to the PJM market from MISO.
The five-year transmission service agreements, which require no upfront investment, only modest annual fees associated with transporting power into PJM, may be extended indefinitely at Dynegy’s request and are a result of three years of effort to procure transmission service out of MISO.
Per the agreement, 260 MW of Hennepin’s 290 MW capacity will be available for sale into PJM effective June 1, 2017.
The pathway to PJM is consistent with Dynegy’s overall objective of moving all of the Company’s Illinois generating assets from MISO to PJM. PJM, which northern Illinois is already part of, is designed for competitive generating assets and not a regulated utility framework as is MISO.
Last month, Dynegy proposed legislation to position all of Illinois into the PJM competitive power market. Dynegy will continue to explore similar paths for its remaining power plants in MISO while we wait for a ruling on our proposed legislation.
Dynegy is capable of supplying 21 million homes with safe, reliable and economic energy. Homefield Energy and Dynegy Energy Services are retail electricity providers serving businesses and residents in Illinois, Ohio and Pennsylvania.