September 10, 2015 04:06 PM Eastern Daylight Time
HOUSTON–(BUSINESS WIRE)–Dynegy Inc. (NYSE: DYN) today reported its results from the PJM transition auction for the 2017/2018 delivery year. The transition auction cleared at $151.50 per megawatt-day
Dynegy cleared and converted 6,508 MW from the existing base product to the Capacity Performance (CP) product including 471 MW to be imported into PJM from the Company’s IPH segment assets located in MISO. Based on the transition auction clearing price and the remaining base capacity product, PJM Capacity revenues for planning year 2017/2018 total $534 million representing an increase of $75 million over the previously cleared volumes.
PJM has now concluded the transition auctions for planning years 2016/2017 and 2017/2018 and the capacity auction for planning year 2018/2019. For the three upcoming planning years, Dynegy cleared volumes in these PJM auctions that will provide capacity revenues in excess of $1.6 billion before consideration of potential performance bonuses or penalties.
We are committed to leadership in the electricity sector. With nearly 26,000 megawatts of power generation capacity and two retail electricity companies, Dynegy is capable of supplying 21 million homes with safe, reliable and economic energy. Homefield Energy and Dynegy Energy Services are retail electricity providers serving businesses and residents in Illinois, Ohio, and Pennsylvania.