"Dynegy Bid to Buy Ameren's Merchant Plants Makes Its Way to FERC. 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 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. In April 2005, Dynegy agreed to settle the lawsuit. Vistra has offices and operations across the United States. The Miami Fort Power Station (Station) is located near North Bend in Hamilton County, Ohio. Why have millions of Americans turned to Dynegy over the years? [17] NGC followed that deal by buying Destec Energy for US$1.27 billion. The company also said it now hoped to emerge from bankruptcy in September 2012. (It occupied these quarters early July 2012.) [26][27] To see the full list of sites, see Coal waste. The company has one major subsidiary, Dynegy Holdings. Dynegy has only 15% of its 50 plants located in the Electric Reliability Council of Texas market, one where generators have been especially pressured by low power prices. "Enron's Growing Financial Crisis Raises Doubts About Merger Deal. GasCo and CoalCo were structured so that they would be little affected by any bankruptcy filing by either Dynegy Inc. or Dynegy Holdings. Dynegy Selected to Power Chicago's Mccormick Place With Renewable Energy. Prosecutors accused Olis, Foster, and Sharkey of deceiving auditors, regulators, and other company executives regarding the transactions. [30], Dynergy is a member of the American Coal Ash Association (ACAA), an umbrella lobbying group for all coal ash interests that includes major coal burners Duke Energy, Southern Company and American Electric Power as well as dozens of other companies. Dynegy exited the energy trading business in 2002 and the natural gas supply business in 2005, focusing its efforts on electrical generation. The entire five-plant system will be subject to annual emission caps to assure that significant system-wide reductions for both SO2 and NOx are achieved."[32]. Mar 9, 2021. Under the agreement, LS Power will maintain the rights to build the coal plant projects under consideration in Arkansas, Georgia, Iowa, Michigan and Nevada. Dynegy was one of five energy companies subpoenaed in 2007 by New York Attorney General Andrew Cuomo in an effort to publicize the financial risks of investing in fossil fuels. The municipally-owned City, Water, Light and Power (CWLP) owns the Dallman Power Plant downstate. In its announcement it also unveiled a new battery storage project: the 260-megawatt DeCordova Energy Storage Facility, in Hood County, Texas. the Illinois River in Bartonville, Illinois. ", "Ex-Officer of Duke Energy Is Named Chief of Dynegy. [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. [95][96] Harrison was elected to the board of directors. Power Shift: Duke Defers to Dynegy the Power Plant Planned for Because the Edwards plant is in an area of low air quality, EPA is likely to force Dynegy to close the plant anyway. Julien Dumoulin-Smith, executive director of UBS Investment Research, said Dynegy is far more likely to shutter all five coal-powered plants rather than add pollution control devices. List of power stations in Illinois - Wikipedia [58], On October 23, 2002, Dynegy hired Bruce Williamson, a former Duke Energy executive, as its chief executive officer. Name. That year, the corresponding electrical energy generation mix was (approximately) 51.4% nuclear, 21.2% coal, 12.6% natural gas, 12% wind . Dynegy is headquartered in Irving, 6555 Sierra Dr, United States, and has 2 office locations. 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. [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. "Pollution Waiver May Decide Fate of Illinois Coal Plants. The bondholders represented by U.S. Bancorp would also get a further US$31 million if the Danskammer and Roseton plants are sold. ", "Broadband Provider Will Acquire Dynegy Network. [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. [96] Accordingly, Dynegy Inc. filed for Chapter 11 bankruptcy protection on July 5, 2012. [99], The restructuring plan put Dynegy's assets which had the worst financial performance into the hands of Dynegy Holdings. [125] Two syndicated loans made up the $1.3 billion loan package. Moody's Investors Service announced it was reviewing all US$4 billion of Dynegy debt. In March 2007, Dynegy acquired a power generation portfolio from LS Power, a privately-held coal and gas power developer. "Ex-Executive Says Dynegy Asked His Help to Cook Books. Electric Clearinghouse sold electricity, and the Energy Store marketed it. ", Daugherty, Deon. [28] NNGC was Enron's most lucrative pipeline asset and had been put up as collateral in return for Dynegy providing financing to Enron during merger talks. [126] This left Dynegy with $1.28 billion in lines of credit and $500 million in outstanding bonds. Coal. "Power Play for Ill. 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. ", "2 Ex-Employees Plead Guilty in Dynegy Case. A major power producer and retailer, Vistra had acquired several of the plants in 2018 after merging with energy company Dynegy. ", "Dynegy Seeks Pollution Waiver in Ameren Purchase. The formerly fossil fuel-heavy Vistra also doubled-down on its recent bid to reinvent itself as a renewable energy and battery company. On November 7, 2011 Dynegy Holdings, the largest of Dynegy Inc.'s four subsidiaries, filed for Chapter 11 bankruptcy protection. "Blackstone Raises Offer For Dynegy. Dynegy Oakland Power Plant Suggest Edit. AEP Columbus Southern Power. "Dynegy's Bid to Buy Ameren's Merchant Plants Gets Bogged Down at FERC. (PG&E) built a power plant in the town. Plant construction began in 1961. Lubben, Stephen J. ", Wernau, Julie. [30] B Unit 1 remains operational, as Unit 2 has been shuttered since 2016. The deal, worth $900 million, involved Ameren's Ameren Energy Generating Co. (Genco); Genco's controlling interest in Electric Energy Inc.; AmerenEnergy Resources Generating Co.; and Ameren Energy Marketing Co. Dynegy formed a subsidiary, Illinois Power Holdings (IPH), to purchase the Ameren subsidiaries. He suggested that economic conditions would likely slow the demand for power in the short term. Location: 6725 North 500th St., Newton, IL 62448; GPS Coordinates: 38.936111, -88.277778; Coal Consumption: . "How a Staid Electric Company Becomes a Renegade. The location is shown in Figure 1-1. [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. Machine Operator - (3x12 Schedule 5AM-5PM) Leclerc Foods Arizona-Phoenix 3.0. [73] In May 2007, ChevronTexaco announced it was selling its 12 percent stake in Dynegy to the public. [24] Dynegy withdrew its merger offer on November 28. ", public fast-charging electric vehicle stations, International Brotherhood of Electrical Workers, United States Environmental Protection Agency. The following projects were also sponsored by Dynegy and LS Power but have been canceled. [134] Foresight Energy, a major Illinois coal mining company, said it would install the $500 million anti-pollution devices for free if Dynegy agreed to sign a long-term contract to accept coal only from Foresight Energy. ", Glater, Jonathan D. "Dynegy Says It Will Exit the Energy Trading Business. Howell continued as a consultant to the company, and agreed to stay on until a successor was named in order to provide an orderly transition. 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. ", Morgenson, Gretchen. ", Wolf, Craig. On April 3, 2012, Dynegy Inc. announced that it had reached an agreement with the U.S. bankruptcy trustee, the board of directors of Dynegy Holdings, and its other creditors. Power Plant Location Maps - Steamfitters Local 353 ", Glater, Jonathan D. "Dynegy Agrees to Settlement of Suit by Its Shareholders. With roots that stretch back more than 130 years, we are helping power some of the world's largest electric markets. ", Lubben, Stephen J. "Dynegy Joins Subsidiary in Chapter 11, Sets Merger. Chief financial officer Holli C. Nichols also said she would resign as chief financial officer on March 11 as well. ", Sorkin, Andrew Ross. Williamson was also a runner-up for 2008's Fossil Fool of the Year Award for plans to construct more new power plants than any other energy company. In August 2009, LS Power agreed to buy nine electrical generating plants from Dynegy for US$1.025 billion in cash in order to dissolve the joint venture. [29], Dynegy came close to bankruptcy in 2002. The deal also allowed Nova and British Gas to sell their stake in Dynegy. ", Barboza, David. Investor pressure on energy stocks in the wake of the Enron collapse pushed Dynegy's stock price down 42 percent by late April. As Williamson later told the New York Times in June 2005, "We had businesses in trading, in marketing, in broadband communications, in Europe, in communications as far as China. According to court documents, the three employees conceived of a plan in early 2001 to borrow money but make it look like operational revenue. At 400MW/1,600MWh capacity, it is currently the world's biggest battery storage facility. "Dynegy Emerges From Bankruptcy, Stock to Return to Market. Four Corners Power Plant - coal. [57], Shareholders, too, were unhappy with Dynegy's actions during the financial crisis. Williamson was also picked as one of five executives to receive 2008 "Fossil Fool of the Year" awards.[25]. Dynegy adopted the "New Economy" branding in 1998, after which the company structured itself in a manner similar to Enron, launching several business ventures, including an online trading platform and broadband communications services, which could be misconstrued of those of its larger rival. Home - Vistra Corp. [69], Dynegy undertook a strategy to move into coal-fired and hydroelectric electrical generation in 2004, and out of natural gas distribution and trading. ", "Dynegy to Sell Illinois Power to Exelon. Adheres to all Hunter Contracting Co. safety policies, procedures, and instructions . [17], Dynegy also began branching into areas outside natural gas and electrical generation. [139], Hershey, Jr., Robert D. "Scrambling for Profits in a Gas Glut. [34] Dynegy Inc. chairman Dan Dienstbier was named interim CEO. ", Roose, Kevin. "Dynegy Hits a Roadblock in Ameren Acquisition. 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. [136], On August 22, 2014, Dynegy announced a deal involving two interdependent transactions to be executed simultaneously. Learn More. The Rockingham County plant is being set up as a peaking station, and would take expensive re . [123] On July 16, FERC again declined to approve or disapprove the Dynegy-Ameren deal. [81] Dynegy investor Carl Icahn also promised a proxy battle, arguing that Blackstone Group's offer was too low. That doesn't mean that, long term, the company would produce power for retail customers, however. [14] By 1996, it had grown to US$550 million in assets, and carried US$525 million in long-term debt. ", Chaudhuri, Saabira. Furthermore, federal regulators were considering an expansion in the market area IPH could serve. "Implosion Reduces Power Plant to Scrap Heap. Please help update this article to reflect recent events or newly available information. [19], In 2009 Dynegy sold eight powerplants (5 peaking and 3 combines cycle) back to LS Power in a $1.5 billion cash and stock deal, ending the 30 months collaboration. Duck Creek Power Station is a coal fired generation facility owned and operated by Dynegy. Part of the structure meant that few of the natural GasCo's and CoalCo's dividends were given to Dynegy Holdings. "Dodgers, Dynegy, MF Global, Syms and Filene's: Bankruptcy." 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. 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 . It unveiled seven new zero-carbon generation facilities totaling nearly one gigawatt in its main, Texas-based market. [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. . The Station is a coal-fired electricity producing power plant operated by Dynegy Miami Fort, LLC, a subsidiary of Dynegy. "Enron's Collapse: The Overview. 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"). A class action lawsuit was filed against the company in 2002. William H. Zimmer Power Station - Wikipedia By the end of 2025, or potentially sooner should the plants become "uneconomic," Vistra will shut its Baldwin Power Plant (1.2 gigawatts) in Baldwin, Illinois, and the Joppa Power Plant (1 gigawatts) in Joppa, Illinois. [138], On April 9, 2018, Vistra Corp closed its acquisition of Dynegy following a FERC determination that the $1.7 billion deal raised no competitive concerns. The bankruptcy filing did not, however, affect GasCo, CoalCo, or the "stub group", and allowed the Dynegy Holdings bankruptcy to proceed. Dynegy is an energy company headquartered at 601 Travis Street in Downtown Houston. In August 1996, it purchased the natural gas gathering, marketing, and processing operations of Chevron Corporation. [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. [60], Williamson began a program of cost cutting, elimination of unprofitable businesses, and financial restructuring. [87] During the shareholder meeting, management's fears proved accurate. Dynegy's CEO, Bruce Williamson, complained that his company was being unfairly picked on. The plant has a capacity of 1,500 MW and 750-MW from both Units 4 and 5. 1: The Dynegy Power Plant in Morro Bay from the Pacific Ocean. 50 Martin Luther King Junior Way. AES Ohio. ", de la Merced, Michael J. On January 3, 2002, Dynegy successfully acquired Enron's Northern Natural Gas Company pipeline. 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 . [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. Vermilion power station - Global Energy Monitor In October 2008, Dynegy agreed to disclose information about how global warming may impact its business practices. The company cited economic conditions and regulatory uncertainties. [8], NGC was purchased by Noble Affiliates, Inc. and Apache Corporation, independent oil and gas exploration and production companies, for a reported $50 million in 1989. Powers, Mary. ", Gruen, Abby. Under the structure adopted by Dynegy Inc., the company could meet its debt obligations to Dynegy Holdings by paying cash or by forgiving debt. The rating applies to sites at which a dam failure would most likely cause loss of human life, but does not include an assessment of the likelihood of such an event. Illinois. ", "Dynegy's Top Executives to Resign in Wake of Failed Deals. But like scores of other power companies before it, Vistra has struggled to make the coal plants profitable amid a surge in supply of natural gas, falling electricity prices, and newly competitive wind and solar farms. The environmental group said the transmission bottleneck issue gave Dynegy too much market power. "Dynegy Bails on 181,000-SF Houston Office Lease." Based on a new set of regulations from the State Water Resources Control Board, the plant may be rendered unprofitable, and city officials are bracing for a potential economic loss. 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. [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. Bloomberg Business News. "Dynegy Settles With Creditors. "Examiner Rules Dynegy Asset Transfer Was Fraudulent. "Disclosing Long-Term Contracts, Dynegy Worries Some Investors. [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. One aspect of the takeover deal that did survive, however, was Dynegy's acquisition of the Northern Natural Gas Company pipeline, Enron's most lucrative pipeline asset. An examiner appointed by the United States bankruptcy court found that the Dynegy Inc.'s purchase of CoalCo was fraudulent. "Berkshire to Buy a Gas Pipeline From Dynegy. "Dynegy Auctioning Two New York Power Plants Worth 1,693 MW." ", Checkler, Joseph and Stilwell, Victoria. On December 15, 2010, Icahn offered a US$5.50 a share cash bid for Dynegy. ", Ryan, Molly. [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. [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. . "Dynegy Workers on Strike in Newburgh. By 1996 it had grown to US$550 million in assets, and carried US$525 million in long-term debt.[13]. This page is not available in other languages. To come up with the money, Dynegy paid out $250 million in cash and issued $68 million in stock to the plaintiffs. Coal-fired power plants. 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. Tracy Moss, "Dynegy will close power plant near Oakwood" The Illinois News Gazette, Dec. 28, 2010.; "U.S. Edwards in Bartonville, Illinois; Joppa in Joppa, Illinois; and Newton in Newton, Illinois. Icahn extended his offer by few days. In September 2007, New York Attorney General Andrew Cuomo sued Dynegy and other utilities, arguing that the companies were not properly accounting for the financial risks that pollutants from coal-fired generating plants created. This is a list of electricity-generating power stations in the U.S. state of Massachusetts, sortable by type and name.In 2021, Massachusetts had a total summer capacity of 13,002 MW through all of its power plants, and a net generation of 18,214 GWh. Shareholders would be paid a total of US$468 million. [2] In 2022, Illinois had a net generation of 192,443GWh. The court approved the sale on September 2. [31], ACAA set up a front group called Citizens for Recycling First, which argues that using toxic coal ash as fill in other products is safe, despite evidence to the contrary.[31]. Dynegy received 1 billion dollar in cash and 245 million of Dynegy B shares in return for the facilities. [101], As part of its bankruptcy filing, Dynegy moved its corporate headquarters. Shortly after the pull-out, Enron filed for Chapter 11 bankruptcy and sued Dynegy. [75] The joint venture did not last, however. August 3, 2005. With energy prices at cyclical lows, the company said it lacked the resources to do so and that its debt burden was destabilizing. Unfortunately for Dynegy's shareholders and employees, these events did nothing to prevent Dynegy itself from lapsing into a crisis similar to that of Enron in late 2002. [100] The goal was to protect Dynegy's secured creditors at the expense of its unsecured creditors. Dynegy owns 2 of the sites, both of which are located in Illinois. The company used this income to retire an $800 million, seven-year line of credit and a $500 million, two-year line of credit. ", "Dynegy to Pay Enron a $25 Million Settlement. November 14, 2011. ComEd. [51], Several Dynegy executives were later convicted or indicted for their roles in Dynegy's near-collapse. [115], The sale of the Roseton and Danskammer plantsa condition of Dynegy's emergence from bankruptcyproceeded slowly. "Life in Energy, After Enron. )[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 Hires Restructuring Advisers. Phone. On January 6, 2009, LS Power announced it was cancelling plans to build the proposed Elk Run Energy Station in Waterloo, Iowa. ", Kaplan, Thomas. ", Bradshaw, Sarah. It also admitted that it had engaged in "round-trip" trades, phony natural gas and electricity trades designed to mislead investors and other companies about the success of Dynegy's online trading operation. ", "Dynegy Hires Ex-Shell Executive As Financial Officer. Baldwin Energy Station - Global Energy Monitor ", Daugherty, Deon. It also faced tightening environmental restrictions that would have forced onerous new investments to reign in pollutants. A major power producer and retailer, Vistra had acquired several of the plants in 2018 after merging with energy company Dynegy. [18] As part of the deal, NRG Energy would acquire four natural gas plants in California and Maine for US$1.36 Billion. The $800 million loan and the $500 million loan were both due in 2020. [2], In September 2006, Dynegy and LS Power Group agreed to a joint venture in a deal worth US$2.3 billion. In addition, as part of the agreement, Sierra dropped its opposition to the Sandy Creek Plant in Texas and LS Power agreed to stricter air pollution controls at Sandy Creek. "Seneca Seeks Proxy Fight at Dynegy. [59] Six weeks later, Dynegy hired Nick J. Caruso, a former chief financial officer at Royal Dutch Shell, as its new chief financial officer. Ohio. He extended his offer by two weeks on January 25, 2011. Heschmeyer, Mark. Close Drawer Vistra Corp. Our Company; Leadership; Core Principles; History; In mid-March 2013, Dynegy purchased three electric generating subsidiaries and five coal plants from Ameren, including Joppa Station. Vistra's commitment to our transformation to a low-to-no-carbon future is unequivocal," said Curt Morgan, president and CEO of Vistra. Power Company Vistra To Replace Coal Plants With Giant Batteries - Forbes 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. And the Southern Illinois Power Cooperative (SIPC) owns at least one coal power station. "Judge Approves Dynegy Plant Sale. Dynegy delivers simple, price-protected retail electricity plans throughout the Northeast, Mid-Atlantic, and Midwest. "Icahn Raises His Stake In Dynegy to 12.9%. Instead, LS Power will focus on completing a planned 500-mile transmission line project to provide new access to renewable energy resources across Nevada. Vistra Energy will be the name of the combined company moving forward. Dynegys online offers (price per kWh) are lower than the average competitive offer posted to these shopping sites. This Emergency Action Plan (EAP) was Advanced. Website. The remaining four plants are borderline cases with the exception of Duck Creek Station which spent nearly US$800m on sulfur dioxide removal, and may also be forced to close if EPA regulations tighten in the future (a highly likely possibility, he said). Vincent Intrieri was named chair of the boards finance and restructuring committee. Goldberg, Laura. Dynegy Careers and Employment Overview | Indeed.com Dynegy Miami Fort, LLC - Luminant [53] Olis was found guilty in March 2004, and sentenced to 24 years in prison. The company adopted the name Dynegy in 1998. Moss Landing Battery Storage Project, California, US 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). From creating jobs to volunteering at shelters and food banks to renovating local parks, we're committed to doing everything in our power to help our communities grow and thrive. Or alternately, Dynegy would like . ", "Trident NGL Agrees to be Acquired in $337 Million Deal.". [77] After a year of negotiations and legal maneuvering, Dynegy agreed to issue statements to its current and future investors warning that government regulation of carbon emissions and lawsuits over pollution could pose financial risks to the company. "Looking for Judgment On a Shattered Deal. 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. We use cookies for analytics and marketing purposes, including to personalize and enhance your browsing experience on our website. "Pollution Board Weighs Delay For Ameren Plants. Company officials from Dynegywhich owns the plantand The Blackstone Group announced the sale wasn't expected to go through despite some last-minute sweetening officials believed would entice . "Dynegy COO Kevin Howell Resigns. Dynegy also agreed to report its efforts to mitigate CO2 emissions, estimates of its financial liability in settling possible lawsuits related to climate change, and the potential impact of climate shifts on its ability to generate electricity. "Sierra Club Seeks More Information on Ameren Deal, Raising Concerns About Local Impacts. Dynegy Company Profile - Office Locations, Competitors, Financials The profits ABG booked were then used to repay the loans. [41] The sale saved Dynegy from bankruptcy. It changed its name to NGC Corporation in 1995 after entering the electrical power generation business. As part of its bankruptcy filing, the bankruptcy court approved a new lease in which Dynegy would abandon 130,000 square feet (12,000m2) of space at Wells Fargo Plaza. In light of these market circumstances, Dynegy has elected to focus development activities and investments around our own portfolio where we control the option to develop and can manage the costs being incurred more closely.. "Dynegy Sells Roseton, Danskammer Plants in New York. This threw the Dynegy Holdings bankruptcy filing into doubt, and put Dynegy Inc. on the hook for billions in debt. 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.
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