Dynegy wins power sales business in Illinois Power Authority auction

Dynegy (NYSE: DYN) in a  Sept. 23 announcement pointed out that it was one of the winners of a power bidding process at the Illinois Commerce Commission.

The commission had announced Sept. 22 that Dynegy was one of the winning suppliers of the Illinois Power Agency’s MISO Zone 4 capacity procurement event. The capacity procured in this process was for planning years 2017/2018 and 2018/2019. While each winning bidder will receive their bid price, the overall weighted average price for the winning bids was $143.20 and $137.25 per megawatt-day, respectively. Total capacity to be provided by the winning suppliers is 1,389 MW for 2017/2018 and 465 MW for 2018/2019.

Per the auction rules, Dynegy’s share of the awarded MW and the clearing prices is not being disclosed and remains confidential. For planning year 2017/2018, Dynegy has sold a total of 1,288 MW of capacity from its Midcontinent ISO coal plant segment, excluding Illinois Power Holdings, for a total of approximately $45.8 million.

On Sept. 16, the Illinois Power Agency’s procurement administrator, NERA Economic Consulting, received bids for the sale of Zonal Resource Credits (ZRCs) to Ameren Illinois, through a bidding process conducted pursuant to the procurement plan approved by the Illinois Commerce Commission. The bidding process was monitored for the commission by Boston Pacific Co.

On Sept. 22, voting in open session, the commission approved the procurement administrator’s selection of winning bids. The winning suppliers were DTE Energy Trading, Dynegy Marketing and Trade LLC, Main Line Generation LLC and The Energy Authority Inc.

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.