Amid accusations of accounting fraud and other misdoings, founder Charles Watson resigned, and the company was forced to sell the Northern Natural Gas pipeline to a consortium of investors led by noted billionaire Warren Buffett. )[87] During the four-day recess, Dynegy executives said the company would continue to solicit a takeover even if the Blackstone Group bid failed. . ", Steffy, Loren and Pickrell, Emily. Fact Sheet: Coal Combustion Residues (CCR) - Surface Impoundments with High Hazard Potential Ratings. [9], In detailing the reasons behind the dissolution, Dynegy CEO Bruce Williamson said:[10], The development landscape has changed significantly since we agreed to enter into the development joint venture with LS Power in the fall of 2006, said Bruce A. Williamson, Chairman, President and Chief Executive Officer of Dynegy Inc. Today, the development of new generation is increasingly marked by barriers to entry including external credit and regulatory factors that make development much more uncertain. Coal-fired power plants. Dynegy delivers simple, price-protected retail electricity plans throughout the Northeast, Mid-Atlantic, and Midwest. ", Butler, Kelsey. [91] That same day, Seneca Capital said it would not even entertain a US$6.00 a share bid. "Dynegy Bails on 181,000-SF Houston Office Lease." [22], In February 2008, The Sierra Club launched a nationwide campaign to pressure Dynegy to abandon its plans to build six new coal-fired power plants nationwide and instead to shift its focus to cleaner energy solutions. [3], Dynegy had 12 coal-fired generating stations in 2005, with 3,755 MW of capacity. [123] On July 16, FERC again declined to approve or disapprove the Dynegy-Ameren deal. Ameren was required to install pollution-reducing equipment on its five coal-fired generating plants in 2015. Planned by Cincinnati Gas and Electric (CG&E) (a forerunner of Duke Energy ), with Columbus & Southern Ohio Electric (a forerunner of American Electric Power (AEP)) and Dayton Power & Light (DP&L) as its partners, it was originally . This increased the company's generating capacity from 13000 MW to nearly 26000 MW. Illinova, the utility holding company of Illinois Power Company, had grown to over US$415 million in assets and US$1.8 billion long-term debt. But FERC said it worried that transmission bottlenecks in the area would permit Dynegy to charge much more. The plant closed on November 19, 2011, and the NEAP became inactive ", de la Merced, Michael. [24] Dynegy withdrew its merger offer on November 28. In 2021, Illinois had a total summer capacity of 45,879MW through all of its power plants. The Morro Bay Power Plant may well be on the path toward retirement. Among Vistras replacements for those assets are the 400 mw Moss Landing utility-scale battery project in California, the biggest in the world, plus a 260 mw battery project in Texas. ", "Chevron Plans Offering of Dynegy Stake. [81] Dynegy investor Carl Icahn also promised a proxy battle, arguing that Blackstone Group's offer was too low. The company's original slogan was "We believe in people. Dynegy also agreed to pay holders of $206 million in subordinated capital income securities just $55 million in principal and $16 million in interest to settle their claims. Data from the U.S. Energy Information Administration serves as a general reference.[44]. ", Boshart, Glen. ", Lubben, Stephen J. ABG then bought natural gas at market prices, and sold it at a premium to Dynegy. At 400MW/1,600MWh capacity, it is currently the world's biggest battery storage facility. The company has one major subsidiary, Dynegy Holdings. (It plans to retire the plant's largest unit as early as this fall, according to the Southern Illinoisan.). "Icahn Raises His Stake In Dynegy to 12.9%. That year, the corresponding electrical energy generation mix was (approximately) 51.4% nuclear, 21.2% coal, 12.6% natural gas, 12% wind . Reporting to the Production Manager, the Machine Operator is responsible for the efficient and safe machine operation, producing high quality product and finish. ", "Dynegy to Sell a Natural Gas Storage Site in Britain. [118] The sale closed on April 30, 2013. Morro Bay power plant sale fizzles. )[55] In December 2003, three former executives at Nicor Energy LLC (a joint venture of Dynegy and Nicor), were indicted for illegally manipulating that firm's income by US$11 million in 2001 to hide losses. ", "Dynegy Won't Seek New Interim Chairman. [6], Natural Gas Clearinghouse (NGC) was created in 1985 by Charles Watson;[7] a consortium of natural gas pipeline companies that included Transco; investment bank Morgan Stanley; and the legal firm of Akin Gump Strauss Hauer & Feld. "Icahn Extends Dynegy Offer, Again. [106] Dynegy's stock was delisted from the New York Stock Exchange following the bankruptcy filing. [31] On May 1, the U.S. Securities and Exchange Commission opened a formal investigation into how Dynegy's "Project Alpha", an internal corporate initiative that allegedly inflated income from natural gas transactions and illegally structured business partnerships to avoid income. ", Prezioso, Jeanine and DiSavino, Scott. ", "Former Dynegy Executive Settles With S.E.C. Dynegy is an energy company headquartered at 601 Travis Street in Downtown Houston. "Dynegy Q2 Loss Widens On Coal-Segment Charge.". The plant was owned by Ameren, an Illinois power company. But on April 16, FERC said that the studies submitted by Dynegy and Ameren were inadequate, and it ordered the two firms to rerun the studies and report back to FERC by July 14. Shareholders would be paid a total of US$468 million. [22], In 2001, Dynegy made a white knight US$8 billion takeover bid for Enron, which was saddled with $13 billion in debt and whose stock had plummeted. "Dynegy Emerges From Bankruptcy, Stock to Return to Market. ", Atlas, Riva D. "Dynegy Faces New Questions Over 'Debt' of Partnership. The demolition of the 165-foot (50m) smokestacks of the outmoded plant was watched by more than 1,000 people. Edwards Power Station stands on the banks of. Dynegy will also pay LS Power about $19 million. [38], Dynegy was quickly approaching bankruptcy by late June 2002. [33] On May 28, Dynegy founder, president, and chief executive officer Charles Watson resigned. [47] The company later paid a US$5 million fine to the CFTC. ", Finke, Doug. [127], The Ameren plants-for-debt swap also ran into trouble. [19][20] LS Power received 340 million shares of Dynegy B stock, $100 million in cash, and a $275 million note. "Castleton Acquires N.Y. Power Plant From Dynegy. Powers, Mary. ABG then sold this gas at a discount to Dynegy, which resold it at market prices and booked a $300 million profit. ", "Dynegy Sells European Telecom Business to Klesch. ", "Dynegy to Buy Exelon Unit for $135 Million. A court hearing on the creditor-approved bankruptcy plan would then be held September 5, after which the company said it would emerge from bankruptcy protection. [52] Foster and Sharkey plead guilty two months later. the Illinois River in Bartonville, Illinois. "Union Workers and Schools Left in Lurch by Dynegy. [97] The company announced a month later that it had hired the restructuring firm Lazard and the law firm White & Case to advise it on debt restructuring. ", "Dynegy to Pay Enron a $25 Million Settlement. See our rate plans to get started. Dynegy declined the offer (in part because it already has long-term coal contracts),[135][136] and environmental groups opposed it. This is a list of electricity-generating power stations in the U.S. state of Illinois, sorted by type and name.In 2021, Illinois had a total summer capacity of 45,879 MW through all of its power plants. Texas-based power provider Vistra will retire its entire fleet of coal plants in Illinois and Ohio by 2027 as part of its plan to reinvent itself as a renewable energy and battery company. The corresponding electrical energy generation mix in 2021 was 76.9% natural gas, 9.2% solar, 5.5% biomass, 4.2% hydroelectric, 4.8% non-biogenic . [5], Dynegy said it hoped to hold a vote on August 24, at which time its creditors would approve the bankruptcy plan. But, Dynegy said, the company never did either. "Power Play for Ill. [122] Under the deal, Dynegy acquired five coal-fired generating plants: Coffeen in Coffeen, Illinois; Duck Creek in Canton, Illinois; E.D. Targa is a youngster with a precocious streak. AEP Ohio Power. [61] The sale of this business came quickly: In August 2005, Dynegy sold this business to Targa Resources, a company owned by private equity firm Warburg Pincus. ", Banerjee, Neela. Dynegy executives said the offer was a good one, as the deal would give Dynegy access to lines of credit which would enable it to refinance and restructure its debt. On December 15, 2010, Icahn offered a US$5.50 a share cash bid for Dynegy. On November 8, 2012, members of International Brotherhood of Electrical Workers (IBEW) Local 320 struck the Roseton and Danskammer plants after a contract extension expired and Dynegy continued to seek cuts in retirement benefits. The company is located at 601 Travis Street in Downtown Houston. TXU Energy. On May 25, 2013, Dynegy filed suit with the bankruptcy court to force ICA to fulfill its obligations. "Dynegy Bid to Buy Ameren's Merchant Plants Makes Its Way to FERC. [118] But the ICS sale stalled. Ameren also transferred about $180 million in tax benefits the three subsidiaries would have received in 2015. "Dynegy Workers on Strike in Newburgh. Phoenix, AZ 85043 (Estrella area) 51st Av & Hadley St. $18.47 an hour. Address and Phone Number for Dynegy Oakland Power Plant, a Power Plant, at Martin Luther King Junior Way, Oakland CA. The company attributed the shutdowns on the failure to recover the plants' "basic operating costs" in the most recent MISO (Midcontinent Independent System Operator) electricity auction. [85] Worried that it did not have enough shareholder support to accept the Blackstone Group offer, Dynegy proposed postponing its shareholder meeting a few days to November 23,[86] but postponement did not occur. In April 2005, Dynegy agreed to settle the lawsuit. Products. AEP Columbus Southern Power. [54] (A year later, after a U.S. Supreme Court ruling in a different case held that mandatory sentencing guidelines violated the Constitution, Olis' sentence was reduced to just six years in prison. (Source: . The company was founded in 1984 as Natural Gas Clearinghouse. In August, former Dynegy controller and chief accounting officer Bradley P. Farnsworth sued the company, saying he'd been fired after refusing to help manipulate the company's financial statements in the summer of 2000. ", Daugherty, Deon. This page was last edited on 3 September 2021, at 20:15. [83], A series of maneuvers followed. July 11, 2012. ", Norris, Floyd. [2], Out of its total 23,402 MW of electric generating capacity in 2005 (2.19% of the U.S. total), Dynegy produces 75.9% from natural gas, 16.0% from coal, and 8.0% from oil. ", Glater, Jonathan D. "Dynegy Says It Will Exit the Energy Trading Business. To separate Dynegy Holdings from Dynegy Inc., Dynegy Holdings was transformed from a corporation into a limited liability company (LLC). Investor pressure on energy stocks in the wake of the Enron collapse pushed Dynegy's stock price down 42 percent by late April. [108], Dynegy Inc. posted a second-quarter 2012 loss of $1.06 billion, an increase to $8.65 per share from 95 cents per share a year ago. Dynegy agreed that the revolving credit line would be paid off and terminate within five years. Illinova had formed a joint partnership named Catlin in January 2000 with a little-known investment company named Black Thunder. For more details, please review our updated Privacy Policy. [68] In March 2004, Wiliamson was named chairman of the company, succeeding Dan Dienstbier (who retired). Chief financial officer Holli C. Nichols also said she would resign as chief financial officer on March 11 as well. [98], The bankruptcy was a novel one. In 2006, Dynegy's 6 coal-fired power plants emitted 23.9 million tons of CO2 and 96,000 tons of SO2 (0.6% of all U.S. SO2 emissions). With energy prices at cyclical lows, the company said it lacked the resources to do so and that its debt burden was destabilizing. By the end of 2027 or sooner it will close the Kincaid Power Plant (1.1 gigawatts) in Kincaid, Illinois; the Miami Fort Power Plant (1 gigawatt) in North Bend, Ohio; the Newton Power Plant (615 megawatts) in Newton, Illinois; and the Zimmer Power Plant (1.3 gigawatts) in Moscow, Ohio. ", de la Merced, Michael J. [119], The Danskammer plant sale was far more troubled. and information to regional powerplants Clinton Nuclear Power Plant 8401 Power RoadClinton, IL 61727 Clinton Nuclear Powerhouse is . Existing shareholders would get just 1 percent of the stock in the new company, with warrants enabling them to buy up to 13.5 of common stock at a set price over the next five years. Dynegy Selected to Power Chicago's Mccormick Place With Renewable Energy. A major power producer and retailer, Vistra had acquired several of the plants in 2018 after merging with energy company Dynegy. [137] Dynegy acquired Dukes Midwest Generation assets and retail business for $2.8 billion in cash, and the power generating assets of EquiPower Resources for $3.45 billion, with $3.35 billion in cash and $100 million in stock. Weve been around for decades by doing things the right way. "Dynegy Postpones Vote on Blackstone Takeover Bid. ", "Court Cases Against Energy Companies Dismissed. "Hurt by Debt, Dynegy Says Bankruptcy Is a Possibility.". This provided an incentive for Dynegy Inc. to withhold payment and force Dynegy Holdings to declare bankruptcy (thereby reducing the value of the debt and making it easier to pay off). Dynegy Oakland Power Plant Suggest Edit. [23] The deal began unraveling two weeks later as Enron revealed even larger financial losses and more debt than previously reported. ", Ryan, Molly. "Looking for Judgment On a Shattered Deal. Catlin took over some of Illinova's electrical generating assets. ", Sorkin, Andrew Ross. The company also said it now hoped to emerge from bankruptcy in September 2012. Low rate claims are based on a comparison of the average of competitors rates posted to PUC state-run shopping sites. Dynegy assumed approximately $1.8 billion in debt from LS Power. [131][132][133] ACM Partners, a financial firm hired by the Sierra Club, also argued that Dynegy purposefully left IPH significantly underfunded and unable to tap into the parent company's resources. Xcel Energy agreed to similar terms in August. [2] In 2022, Illinois had a net generation of 192,443GWh. (Dynegy was unable to adjourn the meeting because its bylaws did not clearly provide for adjournment to another date, and because it was unclear that adjournment could occur without a shareholder votea vote the board felt it would lose. Dynegy owns power plants in Arizona, California, Connecticut, Georgia, Illinois, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Nevada, New York, Ohio, Pennsylvania, Texas, and Wisconsin. The company blamed, among other things, markedly lower demand for its electricity, much lower prices for its coal, and a $941 million noncash loss caused by the transfer of its coal unit to Dynegy Holdings. In 2001, the company made an unsuccessful takeover bid for Enron, pulling out at the last minute following an unexpected restatement of earnings by Enron. On June 25, the company announced it would sell off assets in an attempt to raise US$2 billion in cash. Duck Creek Power Station is a coal fired generation facility owned and operated by Dynegy. 39,000 megawatts of generation across 12 states. This threw the Dynegy Holdings bankruptcy filing into doubt, and put Dynegy Inc. on the hook for billions in debt. Dynegy had signed a sale-leaseback agreement in 2001 with Public Services Enterprise Group for the Roseton and Danskammer facilities. [30] B Unit 1 remains operational, as Unit 2 has been shuttered since 2016. "Icahn Extends Offer Period for Dynegy. "Life in Energy, After Enron. ", de la Merced, Michael J. Bruce Williamson was on the list for "Fossil Foolishness," because in spite of his recent statement very little new power plant development can be justified economically, Dynegy is forging ahead with plans to build six new coal-fired power plants. [14], In a merger completed February 1, 2000, Illinova Corporation became a wholly-owned subsidiary of Dynegy Inc., a deal in which Chevron Corporation also took a 28% stake. Dynegy Inc. is an electric company based in Houston, Texas.It owns and operates a number of power stations in the U.S., all of which are natural gas-fueled or coal-fueled. This Emergency Action Plan (EAP) was The agreement, which affected US$2.25 billion in debt, gave all creditors 99 percent of the stock of Dynegy Inc. once it emerged from bankruptcy. The coal plants slated for closure account for 6.8 gigawatts of generation capacity equal to around 15% of Illinois' total power capacity. You can expect transparent plans that work for your home or business. ", Romero, Simon. Electric Clearinghouse sold electricity, and the Energy Store marketed it. Goldberg, Laura. ", "Dynegy Rejects Foresight Energy's Plan. "Growing Natural-Gas Seller to Expand Electric Business. [101], On March 8, 2011, Dynegy submitted financial filings with government regulators warning investors that it faced bankruptcy if it could not restructure its debt. [110] The unsecured creditors would get $200 million in cash. "Big Energy Mergers in U.S. and Canada." A corporation known as ABG Gas Supply was created. [92] Dynegy's board urged shareholders to accept the Icahn bid, or risk bankruptcy. [75] The joint venture did not last, however. Dynegy had structured itself so that Dynegy Inc. (the holding company) had little debt. NGC was an integrated natural gas services company, paying a cash dividend to shareholders each year since 1994. ", Barboza, David. He suggested that economic conditions would likely slow the demand for power in the short term. This is a list of electricity-generating power stations in the U.S. state of Illinois, sorted by type and name. "Examiner Rules Dynegy Asset Transfer Was Fraudulent. ", Ahmed, Azam. [76] Part of the reason for the joint venture's demise was another collapse in Dynegy's share price. The Federal Energy Regulatory Commission (FERC) had to approve the deal and ensure that there was no negative impact on consumers from Dynegy's expanding market share in the Midwest. The examiner found that Dynegy Holdings was already bankrupt at the time the sale took place, and therefore constituted a breach of fiduciary duty by the Dynegy Holdings board of directors. [12], The Natural Gas Clearinghouse, the predecessor to Dynegy, became better known by its later shortened name, NGC Corporation in the early 1990s, when it became a publicly traded company listed on the New York Stock Exchange. ", "Dynegy Shuts Its Online Trading System. The deal required NGC Corporation to sell Destec's power generation subsidiaries in Australia, Canada, the Dominican Republic, the Netherlands, and the United Kingdom for US$407 million, although NGC Corporation retained Destec's 20 domestic gas-fired power plants. In its announcement it also unveiled a new battery storage project: the 260-megawatt DeCordova Energy Storage Facility, in Hood County, Texas. "Seneca Seeks Proxy Fight at Dynegy. Through its retail and generation businesses which include TXU Energy, Homefield Energy, Dynegy, Ambit Energy, and Luminant, Vistra brings its products and services to market in 20 states and six of the seven competitive markets in the U.S., with about 5,400 employees. [34] Dynegy Inc. chairman Dan Dienstbier was named interim CEO. [32] Two weeks later, the New York Times reported that Dynegy's Illinova subsidiary was part of the investigation. ", Myerson, Allen R. "Focus on Electric Power The Commodity. To come up with the money, Dynegy paid out $250 million in cash and issued $68 million in stock to the plaintiffs. ", Bradshaw, Sarah. [2], In September 2006, Dynegy and LS Power Group agreed to a joint venture in a deal worth US$2.3 billion. Twenty percent of the stations were required to be in low-income neighborhoods. It unveiled seven new zero-carbon generation facilities totaling nearly one gigawatt in its main, Texas-based market. "Enron's Growing Financial Crisis Raises Doubts About Merger Deal. [126] This left Dynegy with $1.28 billion in lines of credit and $500 million in outstanding bonds. ", Poszywak, Amy. "Dynegy to Pay $3 Million In Settlement With S.E.C. The bankruptcy filing did not, however, affect GasCo, CoalCo, or the "stub group", and allowed the Dynegy Holdings bankruptcy to proceed. [19] Dynegy bought Illinova Corporation in 1999 in a deal worth US$1.75 billion and the assumption of US$2.25 billion of Illinova Corp. debt. I cover the energy industry, focusing on climate and green tech, E.D. Mar 11, 2021. ", Tomich, Jeffrey. [72] Dynegy also agreed to create a 245 million new Class B shares, which it turned over to LS Power. The company obtained $1.3 billion in term loan B facilities and $500 million in revolving credit. ", McMahon, Bobby. [93] But by mid-February, even those investors willing to accept the Icahn bid had rescinded these offers. By using our website, you agree to our Privacy Policy, including how we use cookies. [111] Unsecured creditors also would receive 99 percent of Dynegy's new stock, with the company retaining the rest (with warrants to purchase 13.5 percent of the stock after five years). "[29], In December 2008, Co-Op America announced its list of the worst corporate "Scrooges" of 2008, awarded to "the CEOs who exhibited the worst kinds of unbridled greed and a lack of compassion or concern for others over the last year." GasCo and CoalCo were structured so that they would be little affected by any bankruptcy filing by either Dynegy Inc. or Dynegy Holdings. [44] On September 3, interim chairman Glenn F. Tilton resigned in order to become chief executive officer of United Airlines. [9] NGC was so successful that in 1985 Morgan Stanley bought out some of the other investors and took a majority stake in the company. "Dynegy Auctioning Two New York Power Plants Worth 1,693 MW." Prosecutors accused Olis, Foster, and Sharkey of deceiving auditors, regulators, and other company executives regarding the transactions. "I don't think anybody ever wanted to keep a dinosaur going," said Morro Bay Mayor Janice . ", "Dynegy Seeks Pollution Waiver in Ameren Purchase. Dynegy received 1 billion dollar in cash and 245 million of Dynegy B shares in return for the facilities. Ameren retained Genco's inactive Hutsonville and Meredosia plants, and agreed to buy back from IPH for $133 million three natural gas electrical generating plants. [8], The stock market responded positively to the announcement, sending Dynegy's stock up 19% on January 2. and another 10 percent in the following week. The EPA stated that this "settlement requires installation of four new flue gas desulfurization devices (scrubbers) to control SO2; four new baghouses to control particulate matter (soot); and operation of existing control equipment, including three selective catalytic reduction (SCR) systems, year-round to control NOx. In response to demands from environmentalists as well as Senator Barbara Boxer (D-California), chair of the Senate Committee on the Environment and Public Works, the EPA made public a list of 44 "high hazard potential" coal waste dumps. In June 2003, Jamie Olis (former Senior Director of Tax Planning), Gene Foster (former Vice President for Taxation), and Helen Sharkey (a former employee in Dynegy's risk control and deal structure groups), were indicted on numerous counts of mail and wire fraud. [35] In mid-June, Dynegy reported that its first quarter income had fallen 80 percent. [18] After the July 23 announcement, the company's shares dropped 64 percent. The agency said that it Dynegy's study showed it charging market rates for energy in the Midwest. It owns and operates a number of power stations in the U.S., all of which are natural gas-fueled or coal-fueled. [45] On September 24, Dynegy announced that it had agreed to pay a US$3 million fine for using the Catlin company and other business partnerships to hide losses and taxable income. [11] NGC purchased Trident NGL in 1994 in a deal worth more than $750 million. On April 9, 2018, Texas-based Vistra Energy, the parent company for TXU Energy and Luminant, announced it had completed its merger with Dynegy. ", Ahmed, Azam. In August 2000, the company announced that it had purchased Extant Inc., a broadband provider building a nationwide fiber optic network, for US$152.5 million. [99], The restructuring plan put Dynegy's assets which had the worst financial performance into the hands of Dynegy Holdings. Some of the earlier closures occurred because plants ran afoul of environmental rules. ", Banerjee, Neela. It became a publicly traded company on the New York Stock Exchange that same year. [101], As part of its bankruptcy filing, Dynegy moved its corporate headquarters. Dynegy, along with Enron, El Paso Corporation, Reliant Energy and several other energy companies, was accused of price fixing and other fraudulent practices during the California electricity crisis in 2000. He extended his offer by two weeks on January 25, 2011. Its insurance companies paid another $150 million to the plaintiffs. ", Glater, Jonathan D. "Dynegy Agrees to Settlement of Suit by Its Shareholders. [136], On August 22, 2014, Dynegy announced a deal involving two interdependent transactions to be executed simultaneously. A major investor was Kenneth Lay, later the chief executive officer of the energy firm Enron. This page is not available in other languages. The company cited economic conditions and regulatory uncertainties. Platts. "Dynegy Pays Off Term Loan With $500M in Senior Notes. ", Wolf, Craig. [41] The sale saved Dynegy from bankruptcy. [23] The campaign is the first attempt by anti-coal forces to single out a single company on a nationwide basis. [30] In financial distress, Dynegy successfully applied for a US$900 million line of credit. ", Berringer, Felicity and Hakim, Danny. It also admitted that it had signed long-term power contracts that would not produce revenue for years to come; but it had charged the income to the current year's revenues in an attempt to bolster its bottom line. ", "Dynegy to Pay $5 Million in Inquiry Into Fake Trades. Full-time. [24], The campaign began with mass call-ins to Dynegy headquarters originating from twenty states -- "thousands of calls," according to the Sierra Club. The Moss Landing battery storage project is a massive battery energy storage facility built at the retired Moss Landing power plant site in California, US. The bankruptcy agreement also settled claims between Dynegy Holdings and Dynegy, Inc.[110], Dynegy emerged from bankruptcy on October 2, 2012, and its shares began trading on October 3 under the "DYN" symbol. Here is a list of Dynegy's coal power plants: Plant Name State County Year(s) Built Capacity Status Baldwin: IL: Randolph: 1970, 1973, 1975: 1892 MW: Operating, retiring in 2025 Wood River: IL: Madison: 1954, 1964: 500 MW: Retired in 2016 . "Embattled Dynegy files for Chapter 11. It is worked under the National Maintenance Agreement. Though Dynegy has been a major economic benefactor to Morro Bay since it bought the plant in 2007, the plant has been a very public thorn in the side of environmentalists for more than 50 years due to its once-through cooling system . ", "AFL-CIO Pushes For Waiver For Illinois Plants. [16], In June 1998, NGC Corporation changed its name to Dynegy, Inc. Dynegy Inc. created three operating divisions: the natural gas group (GasCo), the coal group (CoalCo), and a group for all other businesses (known as "the stub group"). (It occupied these quarters early July 2012.) [citation needed] Dynegy was acquired by Vistra Corp on April 9, 2018.The company is located at 601 Travis Street in Downtown Houston. The company disposed of all its businesses with the exception of its core merchant power and natural gas liquids businesses. ", "Dynegy May Find a Partner to Stabilize Energy Trading. Partners. "Dynegy Files for Bankruptcy as Part of Settlement. ", "Dynegy Staves Off Bankruptcy With Sale of Pipeline. "Blackstone Raises Its Offer for Dynegy. "Economy Is Surging, but Wall St. Is Down in the Dumps. Bloomberg Business News. [100] The goal was to protect Dynegy's secured creditors at the expense of its unsecured creditors. Oakland , California , 94607. [20], Dynegy, along with Enron, El Paso Corporation, Reliant Energy, and several other energy companies, was accused of price manipulation and other fraudulent practices during the California electricity crisis in 2000 and 2001.
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