Company Website:
http://www.dynegy.com
HOUSTON -- (Business Wire)
The Federal Energy Regulatory Commission (FERC) issued an order today
authorizing Dynegy (NYSE:DYN) subsidiaries to acquire the ownership
interests in certain Ohio, Illinois, and Pennsylvania commercial
generation assets and retail business from Duke Energy and EquiPower
Resources Corp. and Brayton Point Holdings, LLC from Energy Capital
Partners.
With this authorization, the EquiPower and Brayton Point Holdings
transactions are expected to close on Wednesday, April 1 and the Duke
transaction is anticipated to close on Thursday, April 2.
After closing the Duke Midwest transaction and the EquiPower and Brayton
Point Holdings transactions, Dynegy Inc. will own and operate nearly
26,000 megawatts of fuel-diverse power generating facilities, primarily
in the Midwest and Northeast. Dynegy will provide electricity to
individuals, municipalities and businesses in Illinois, Ohio and
Pennsylvania through its retail brands Homefield Energy and Dynegy
Energy Services.
This press release contains statements reflecting assumptions,
expectations, projections, intentions or beliefs about future events
that are intended as “forward-looking statements.” These forward-looking
statements include statements regarding the ability to close the
transactions during the periods indicated above. These statements are
based on the current expectations of Dynegy’s management. Discussion of
risks and uncertainties that could cause actual results to differ
materially from current projections, forecasts, estimates and
expectations of Dynegy is contained in Dynegy’s filings with the
Securities and Exchange Commission (the “SEC”). Specifically, Dynegy
makes reference to, and incorporates herein by reference, the sections
entitled “Risk Factors” in its 2014 Form 10-K. In addition to the risks
and uncertainties set forth in Dynegy’s SEC filings, the forward-looking
statements described in this press release could be affected by the
following, among other things, (i) conditions to the closing of any of
the transactions may not be satisfied; (ii) problems may arise in
successfully integrating the Duke Energy, EquiPower and Brayton power
facilities into Dynegy’s current portfolio, which may result in Dynegy
not operating as effectively and efficiently as expected; (iii) Dynegy
may be unable to achieve expected synergies or it may take longer than
expected to achieve such synergies; (iv) any of the transactions may
involve unexpected costs or unexpected liabilities; (v) the industry may
be subject to future regulatory or legislative actions, including
environmental, that could adversely affect Dynegy; and (vi) Dynegy may
be adversely affected by other economic, business, and/or competitive
factors. Any or all of Dynegy’s forward-looking statements may turn out
to be wrong. They can be affected by inaccurate assumptions or by known
or unknown risks, uncertainties and other factors, many of which are
beyond Dynegy’s control.
Contacts:
Dynegy Inc.
Media:
Micah Hirschfield, 713-767-5800
Analysts:
Andy
Smith, 713-507-6466
Source: Dynegy Inc.
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