July 12, 2006
Atlanta-based Mirant Corp. said it planned to sell its international assets and buy back as much as $1.25 billion of its shares to raise its stock price after dropping an unsolicited bid to buy rival NRG Energy Inc.
October 4, 2005 |
NRG Energy Inc. received commitments from banks to provide $9.9 billion to finance its purchase of electricity producer Texas Genco Holdings. The funding will consist of $4.8 billion of bank loans and $5.1 billion in bridge financing, Princeton, N.J.-based NRG Energy said. Morgan Stanley and Citigroup Inc. are arranging the funding. NRG will become the second-biggest power producer in Texas. The company will acquire Texas Genco for $4 billion in cash and $1.8 billion in stock, NRG Energy said.
December 24, 2004 |
Dynegy Inc. and NRG Energy Inc. on Thursday won the California Energy Commission's approval to build two generators at an El Segundo power plant. The 630-megawatt expansion will replace two gas turbines that the companies shut down because they were too costly to operate, said David Byford, a Dynegy spokesman. The project will take four years to complete once construction begins, he said. "Before we begin construction, we would need to enter a long-term contract," Byford said.
November 12, 2004 |
Dynegy Inc. and NRG Energy Inc. said they would keep one power plant in the Los Angeles area open next year and close another under an accord with the state's power-grid operator intended to ensure adequate power in the region. The California Independent System Operator plans to negotiate a contract with the companies to keep their jointly owned El Segundo plant open next year, the system operator said on its website. That plant is needed to help prevent blackouts.
April 27, 2004 |
California officials have reached a $281.5-million settlement with Dynegy Inc. and NRG Energy Inc. over allegations of widespread abuses during the state's energy crisis, Atty. Gen. Bill Lockyer said late Monday. The state had accused a joint venture owned by the two firms, known as West Coast Power, of withholding power and conducting Enron Corp.-style trading schemes to push up the price of electricity during 2000 and 2001.
January 21, 2004
Dynegy Inc. and West Coast Power, a joint venture in California between Dynegy and NRG Energy Inc., agreed to pay $3 million to settle Federal Energy Regulatory Commission charges related to trading in Western energy markets in 2000 and 2001. The companies agreed to pay into a fund established at the U.S. Treasury for the benefit of California and Western electricity consumers, Dynegy said.