Dynegy delays power plant acquisition to submit additional info to FERC

Dynegy Acquisition

Dynegy Inc. (NYSE:DYN) announced that the Federal Energy Regulatory Commission (FERC) has requested additional information to process and approve the company’s acquisition of Duke Energy’s (NYSE: DUK) Midwest Generation assets and retail business, and EquiPower Resources and Brayton Point Holdings assets.

The company said it plans to respond within the 30-day period, however, the request is expected to delay the transactions, which were scheduled to close by the end of the first quarter 2015.

Duke Energy announced that Dynegy would buy its non-regulated Midwest Commercial Generation Business for $2.8 billion in cash, on Aug. 22, 2-14. The transaction includes ownership interests in 11 power plants, with a capacity of approximately 6,100-MW, and Duke Energy Retail Sales, the company's competitive retail business in Ohio.

The power plants are:

* Conesville coal-fired station, located in Conesville, Ohio.
* Dicks Creek natural gas facility, located in Middletown, Ohio.
* Fayette natural gas energy facility, located in Masontown, Pennsylvania.
* Hanging Rock natural gas energy facility, located in Ironton, Ohio.
* Killen coal-fired station, located in Wrightsville, Ohio.
* Lee Energy natural gas facility, located in Dixon, Illinois.
* Miami Fort coal-fired station Units 7 & 8, located in North Bend, Ohio.
* Miami Fort oil station, located in North Bend, Ohio.
* Stuart coal-fired station, located in Aberdeen, Ohio.
* Washington natural gas energy facility, located in Beverly, Ohio.
* Zimmer coal-fired generating station, located in Moscow, Ohio.

The power plants are dispatched into the PJM wholesale power market.

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