Friday, November 22, 2024

Dynegy Inc News

Vistra to Buy Dynegy in $1.7bln Deal

Vistra Energy Corp said on Monday it would buy Dynegy Inc in an all-stock deal worth $1.74 billion, combining two Texas-based power producers in the latest merger in an industry dealing with shrinking profit margins. Debt-laden power producers such as Dynegy have seen their margins fall, as cheap natural gas from shale fields drives electricity prices lower, leading a handful of power companies to merge to cut costs and streamline operations.

Dynegy to Shut Money-losing Illinois Coal Power Units

Dynegy Inc will shut down three coal-fired units at two Illinois power plants because they are no longer economical in the Midwestern U.S. power market, the Houston-based electric utility said on Wednesday. Dynegy said it had decided to close more than 1,800 megawatts at the coal-fired units of the Newton and Baldwin power plants because they failed to recover their basic operating costs at the Midwestern U.S. power grid's most recent capacity auction.

Dynegy, Energy Capital to buy Engie's U.S. Plants

Dynegy, Energy Capital JV to buy power plants worth $3.3 bln. U.S. electric power company Dynegy Inc said it had partnered with private equity firm Energy Capital Partners to buy French utility Engie SA's U.S. power plants worth $3.3 billion to expand in regulated power markets. Falling demand for electricity in the United States due to increased energy efficiency has led to a spate of mergers as utilities look to cut their exposure to unregulated markets, where prices are volatile.

U.S. Top Court Upholds Electricity Markets Rule

The U.S. Supreme Court on Monday upheld a major Obama administration electricity markets regulation aimed at encouraging efficiency in the market by having grid operators pay large users to reduce consumption at peak times. The court ruled 6-2, with Justice Samuel Alito not taking part in the case, to reverse a May 2014 decision by the U.S. Court of Appeals for the District of Columbia Circuit to strike down the 2011 Federal Energy Regulatory Commission regulation.

California Has Enough Power for Summer Air Conditioning Demand

California will have enough power to meet air conditioning demand this summer despite continued low hydropower supplies due to an ongoing multi-year drought. The California Independent System Operator (ISO), the power grid operator for most of the state, said in a statement released late Thursday that the grid will benefit from new generation, mostly solar, stable imports and moderate peak demand growth.

U.S. Supreme Court: Antitrust Claims Over Natural Gas Prices Can Proceed

The U.S. Supreme Court on Tuesday ruled that a federal law governing the natural gas market does not shield energy companies from state antitrust claims made over the western U.S. energy crisis between 2000 and 2002. The ruling, on a 7-2 vote, was a loss for several energy companies, including American Electric Power Company Inc, Dynegy Inc and ONEOK Inc, which were accused of manipulating published price indexes that led to a spike in gas prices.

US Justices Weigh Antitrust Lawsuits Related to Energy Crisis

The U.S. Supreme Court on Monday wrestled with the question of whether a federal law governing the natural gas market would allow energy companies to evade state antitrust claims made over the western U.S. energy crisis between 2000 and 2002. The court appeared divided during oral arguments in the case, with the liberal justices voicing some support for the industrial and commercial users of natural gas who filed the lawsuits.

Duke Energy Financial Miss Estimates on Mild Summer

Duke Energy Corp, the largest U.S. power company by market value, reported a lower-than-expected quarterly revenue and profit as a milder summer hit demand and expenses rose. The company's shares were down 1.5 percent at $81.00 before the bell on Wednesday. Duke said demand was hurt by a below normal weather in the Carolinas and in the Midwest. The company's income from its international energy unit was hurt by lower volumes and higher purchased power costs in Latin America.

Dynegy Buys Duke Energy, Energy Capital assets

U.S. power company Dynegy Inc said on Friday that it would buy coal and gas generation assets from Duke Energy Corp and Energy Capital Partners, in two deals totaling $6.25 billion. Dynegy shares rose 4.6 percent in premarket trading on the New York Stock Exchange. The acquisitions will nearly double Dynegy's generating capacity to about 26,000 megawatts (MW) nationally and allow the company to provide retail electricity to residents and businesses in Illinois…