Dynegy: FERC Oks Purchase Of Duke's Non-regulated Midwest Generation Business

(RTTNews) - Electric utility Dynegy Inc (DYN) on Friday said the Federal Energy Regulatory Commission has approved its $2.8 billion purchase of non-regulated Midwest Commercial Generation Business from Duke Energy Corp (DUK).

Dynegy expects to close the deal on April 2.

The transaction includes ownership interests in 11 power plants in Ohio, Illinois and Pennsylvania, with a capacity of about 6,100 megawatts, and Duke Energy Retail Sales, the company's competitive retail business in Ohio.

Also, Dynegy said the FERC approved its $3.45 billion acquisition of power generation companies EquiPower Resources and Brayton Point from Energy Capital Partners (ECP). The transaction is expected to close on April 1.

Upon closing of the aforesaid deals, Dynegy will own and operate nearly 26,000 megawatts of fuel-diverse power generating facilities, primarily in the Midwest and Northeast.

Dynegy also will provide electricity to individuals, municipalities and businesses in Illinois, Ohio and Pennsylvania through its retail brands Homefield Energy and Dynegy Energy Services.