Dynegy approved by FERC to buy power plants in various states

The Federal Energy Regulatory Commission on March 27 authorized under separate orders Dynegy (NYSE: DYN) subsidiaries to acquire the ownership interests in certain Ohio, Illinois, and Pennsylvania commercial generation assets and retail business from Duke Energy (NYSE: DUK), and also 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 April 1 and the Duke transaction is anticipated to close on April 2, said Dynegy in a brief March 27 statement. After closing, the Duke Midwest transaction and the EquiPower and Brayton Point Holdings transactions, Dynegy. will own and operate nearly 26,000 MW of fuel-diverse power generating facilities, primarily in the Midwest and Northeast. These deals were first announced in August 2014.

Under the Energy Capital Partners (ECP) deal, Dynegy will indirectly acquire 100% of the equity interests in the ECP Utilities other than Elwood Energy, and 49.5% of the equity interests in Elwood Energy, together with an option to acquire an additional 0.5% interest. Under the Energy Capital Partners deal, in ISO New England, Dynegy gets:

  • Brayton Point Energy, which owns and operates an approximately 1,544 MW (summer) generating facility consisting of three coal-fired units; one gas/oil-fired steam unit; four small diesel-fired units; and related interconnection facilities (Brayton Point Station). The Brayton Point Station is located in Somerset, Massachusetts.
  • Dighton Power, which owns and operates an approximately 180 MW (summer) natural gas-fired facility and related interconnection facilities located in Dighton, Massachusetts
  • Lake Road Generating, which owns and operates an approximately 750 MW (summer) natural gas-fired, combined-cycle facility and related interconnection facilities located near Killingly, Connecticut.
  • MASSPOWER, which owns and operates an approximately 255.6 MW (summer) gas- and oil-fired, combined-cycle facility and related interconnection facilities located in Indian Orchard, Massachusetts.
  • Milford Power, which owns and operates an approximately 507 MW (summer) gas- and oil-fired, combined-cycle facility and related interconnection facilities located in Milford, Connecticut.

In the PJM Interconnection region, Dynegy gets from ECP:

  • Elwood Energy, which owns and operates an approximately 1,424 MW (summer) electric generating facility consisting of nine natural gas-fired turbine units and related interconnection facilities in Elwood, Illinois.
  • Kincaid Generation, which owns and operates an approximately 1,158 MW (summer) generating facility, consisting of two coal-fired units and related interconnection facilities located in Kincaid, Illinois.
  • Liberty Electric, which owns and operates an approximately 549 MW (summer) combined cycle, natural gas-fired facility and related interconnection facilities located in the Borough of Eddystone, Delaware County, Pennsylvania.
  • Richland-Stryker Generation, which owns and operates two generating facilities: an approximately 447 MW (winter) natural gas- and oil-fired facility in Defiance County, Ohio (Richland-Stryker Defiance Facility); and an approximately 19 MW (winter) oil-fired generating facility in Williams County, Ohio (Richland-Stryker Stryker Facility).

The power plant buys from Duke and its Duke Energy Commmercial Asset Management (DECAM) subsidiary are in two categories, DECAM Coal and DECAM Gas.

DECAM Coal consists of:

  • Duke Conesville owns a 40% undivided interest in Unit 4 at the Conesville Station, an approximately 780 MW (summer rating) coal-fired facility in Conesville, Ohio.
  • Duke Killen owns a 33% undivided interest in the Killen Station, an approximately 618 MW (summer rating) coal-fired facility in Wrightsville, Ohio.
  • Duke Miami owns a 64% undivided interest in Units 7 and 8 at the Miami Fort Station, coal-fired units with a combined capacity of approximately 1,020 MW (summer rating) in North Bend, Ohio, and also the Miami Fort CT Station, an approximately 57 MW (summer rating) oil-fired facility in North Bend, Ohio.
  • Duke Stuart owns a 39% undivided interest in the Stuart Station, an approximately 2,317 MW (summer rating) coal-fired facility in Aberdeen, Ohio.
  • Duke Zimmer owns a 46.5% undivided interest in the W.H. Zimmer Generating Station, an approximately 1,300 MW (summer rating) coal-fired facility in Moscow, Ohio.

DECAM Gas has:

  • Duke Dicks Creek owns and operates an approximately 136 MW (summer rating) natural gas-fired facility in Middletown, Ohio.
  • Duke Fayette owns and operates an approximately 628 MW (summer rating) natural gas-fired facility in Masontown, Pennsylvania.
  • Duke Hanging Rock owns and operates an approximately 1,252 MW (summer rating) natural gas-fired facility in Irontown, Ohio.
  • Duke Lee owns and operates an approximately 568 MW (summer rating) natural gas-fired facility in Dixon, Illinois.
  • Duke Washington owns and operates an approximately 626 MW (summer rating) natural gas-fired facility in Beverly, Ohio.
About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.