Profile: Dynegy Inc (DYN)
19 Dec 2014
Dynegy Inc. (Dynegy), incorporated in 2007, is a holding company and conducts the business operations through its subsidiaries. Dynegy’s primary business is the production and sale of electric energy, capacity and ancillary services from the fleet of 16 operating power plants in six states totaling approximately 11,600 megawatts of generating capacity. The Company sells electric energy, capacity and ancillary services on a wholesale basis from its power generation facilities. Its customers include Regional Transmission Organization (RTOs) and Independent System Operators (ISOs), integrated utilities, municipalities, electric cooperatives, transmission and distribution utilities, industrial customers, power marketers, financial participants, such as banks and hedge funds, and other power generators. Dynegy operates in three segments: the Coal segment (Coal), the Gas Segment (Gas) and the Dynegy Northeast Segment (DNE). In May 2013, the Company sold its Roseton power generation facility (Roseton) to a subsidiary of Castleton Commodities International LLC (CCI). In December 2013, the Company announced that its subsidiary, Illinois Power Holdings (IPH) completed its acquisition of New Ameren Energy Resources (AER), an Ameren subsidiary.
Dynegy’s Coal segment consists of four operating coal-fired power generation facilities and two operating natural gas-fired peaker facilities in Illinois with a total generating capacity of 3,132 megawatts. On November 17, 2011, it permanently retired the 176 megawatts Vermilion power generation facility. As of December 31, 2011, the facilities operated entirely within MISO. Its Coal segment is primarily a fleet of baseload coal facilities, located in Illinois. The MISO market includes all of Wisconsin and portions of Michigan, Kentucky, Indiana, Illinois, Nebraska, Kansas, Missouri, Iowa, Minnesota, North Dakota, Montana and Manitoba, Canada. MISO is as an independent RTO.
Dynegy’s Gas segment consists of seven operating natural gas-fired power generation facilities located in California (two), Nevada (one), Illinois (one), Pennsylvania (one), New York (one), and Maine (one), and one fuel-oil fired power generation facility located in California, totaling 6,771 megawatts of electric generating capacity. On November 7, 2011, it deconsolidated DH, which indirectly owns all of its assets in the Gas segment. The PJM market includes all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. The Company’s Kendall and Ontelaunee facilities located in Illinois and Pennsylvania operate in PJM with an aggregate net generating capacity of 1,780 megawatts.
Dynegy’s DNE segment consists of the Roseton and Danskammer facilities located in Newburgh, New York, with a total capacity of 1,693 megawatts. Its total of 1,570 megawatts of generation capacity relates to leased units at the two facilities. The Company’s Roseton and Danskammer facility sites are adjacent and share common resources, such as fuel handling, a docking terminal, personnel and certain associated systems.
601 Travis St Ste 1400
HOUSTON TX 77002-3253
Company Web Links
- Dynegy launches US$5.1bn three tranche bond
- UPDATE 1-Dynegy targets Friday pricing for US$5.1bn HY bond
- Dynegy sets price talk on new US$5.1bn high-yield bond
- Dynegy cuts exposure to wholesale power with deals worth $6.25 billion
- UPDATE 3-Dynegy cuts exposure to wholesale power with deals worth $6.25 bln