Dynegy clears Justice, FTC reviews of power plant buys

brayton_point

Dynegy Inc. (NYSE:DYN) said Nov. 10 that the U.S. Department of Justice and the Federal Trade Commission have granted early termination of the Hart-Scott-Rodino Act waiting period for its planned acquisition of Duke Energy Midwest Generation assets and retail business and EquiPower Resources and Brayton Point Holdings assets.

The transactions, announced Aug. 22, remain on track to close by the end of first quarter 2015. The only regulatory approval remaining is from the Federal Energy Regulatory Commission.

The addition of the Duke Energy MidWest, EquiPower and Brayton Point generation assets will bring Dynegy's existing portfolio to nearly 26,000 MW. The power generating portfolio, along with Duke's 7 terawatt annual retail marketing business will complement Dynegy's existing assets and retail business by adding significant scale and fuel diversification in the PJM Interconnection and New England markets.

Dynegy and Duke Energy (NYSE:DUK) had announced on Aug. 22 that Dynegy will acquire Duke's non-regulated Midwest Commercial Generation Business for $2.8bn in cash, which includes ownership interests in 11 power plants, many of them coal-fired, and Duke Energy Retail Sales, the company's competitive retail business in Ohio.

Dynegy on Aug. 22 also announced that it would buy various assets of Equipower and Brayton Point in a separate transaction from Energy Capital Partners, including these facilities: Milford, Lake Road, Dighton, Masspower, Liberty, Elwood, Richland, Stryker, Kincaid and Brayton Point.

Dynegy is already a major power producer. The Dynegy Power LLC portfolio consists of approximately 6,078 MW of primarily intermediate and peaking power generation facilities. The Dynegy Midwest Generation LLC portfolio consists of approximately 2,980 MW of primarily baseload power plants. The Illinois Power Holdings LLC portfolio consists of about 4,062 MW of primarily baseload power plants.

This article was republished with permission from

 

 

 

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