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The Dynegy Corporation has announced the termination of their coal-plant development partnership with LS Power, effectively canceling plans for six new coal burning power plants. Momentum against coal is growing all around the country, as residents of Kingston, Tennessee recover from a one billion gallon spill of toxic coal ash produced by a coal plant last week. That spill promises to leave streams, fish, front yards and drinking water in the community under health advisories for months, if not years. Now, just two days into 2009 the tally of canceled coal plants is already ticking up. The environmental community has...

While bankruptcy is almost always the end of the line for common-equity shareholders, sometimes the companies themselves re-emerge with a new lease on life. Although airlines seem to habitually dip in and out of bankruptcy, other companies in fields such as telecommunications, retail, and power generation have made something of themselves on the other side of Chapter 11. On which side of the fence will independent power producer Mirant (NYSE: MIR - News) find itself? Having spent nearly three years in bankruptcy, the company emerged 70 days ago with a cleaner balance sheet and, hopefully, a better operating plan. Because...

In legal papers filed with the state Supreme Court, environmentalists have accused California energy regulators of violating state law by approving an expansion of the El Segundo power plant without requiring operators to study the potential harm to marine life. Santa Monica Baykeeper and Heal the Bay alleged in the filing last week that the California Energy Commission went against state recommendations to study the effects of large water pipes that suck in and destroy trillions of marine organisms every year. El Segundo plant operators plan to increase the amount of Santa Monica Bay seawater pulled in by 25%, for...

Lockyer alleged overcharging during crisis.A federal appeals court Tuesday tossed out several lawsuits brought by California's attorney general accusing energy companies of overcharging state power customers millions of dollars during the energy crisis. The 9th U.S. Circuit Court of Appeals said federal law allows claims for refunds through the Federal Energy Regulatory Commission, not the courts. In July, the circuit issued a similar decision when it said Attorney General Bill Lockyer could not sue Reliant Resources Inc., Dynegy Inc. and other firms on allegations they double billed energy customers. (Excerpt...see source above for entire story)

NEW YORK (Reuters) - Private equity funds are snapping up power plants and pipelines once sought by aggressive buyers like El Paso Corp. (NYSE:EP - News), Dynegy Inc. (NYSE:DYN - News) and Mirant Corp. (Other OTC:MIRKQ.PK - News) as these former industry heavyweights focus on repairing their businesses.CenterPoint Energy's (NYSE:CNP - News) sale of its Texas Genco Holdings Inc. (NYSE:TGN - News) electricity generator, announced last month, was the industry's largest deal this year. Like the more than $5 billion in other power deals this year, the buyers were financial groups that typically buy, fix up and sell assets in...

White-collar crooks deserve tough treatment. But 24 years for Dynegy's Jamie Olis? Politics has turned financial fraud into a worse crime than running drugs or killing someone. Former Tyco chief executive Dennis Kozlowski is a lucky guy. Not because a stubborn juror landed him a mistrial. He's lucky because even if New York prosecutors retry him, as they've vowed to do, the flamboyant former exec is looking at 15 to 30 years, no more. Were Kozlowski in federal court instead, he could easily be facing what amounts to a life sentence--with no chance of parole--under rigid new sentencing guidelines. While...

Dynegy has reached an agreement to sell its Illinois Power utility in a deal that would reduce its debt and strengthen its balance sheet. Houston-based Dynegy was expected this morning to announce a deal, valued at about $2.2 billion, to sell Illinois Power to Exelon Corp., Bruce Williamson, Dynegy's president and chief executive officer, told the Houston Chronicle on Sunday. As part of the deal, Exelon would assume about $1.8 billion in Illinois Power debt, he said, adding: "That's a big chunk of debt to go away." Dynegy has been working to reduce its debt. With a sale, Dynegy's work...

HOUSTON--(BUSINESS WIRE)--Sept. 26, 2003--Dynegy Inc. (NYSE:DYN) today announced that it is engaged in exclusive discussions with Exelon Corp. (NYSE:EXC) related to a possible sale of Illinois Power Company, Dynegy's regulated energy delivery business. Any transaction between the parties would be subject to satisfactory completion of Exelon's due diligence, negotiation of final terms and structure, negotiation and execution of definitive agreements, receipt of board of directors and required regulatory approvals and other conditions. Dynegy does not anticipate making any further announcement about this potential transaction until a definitive agreement is reached or discussions are terminated. Dynegy Inc. provides electricity, natural gas...

Dynegy is shopping around one of its three main units, its Illinois utility. The Houston-based energy company is talking to a handful of potential buyers about its Illinois Power unit, according to people familiar with the process. Dynegy's move follows the company's recent completion of a series of key refinancing and restructuring deals that stabilized its balance sheet and pushed significant debt maturities into 2010. After completing that work, officials at Dynegy turned their attention to strategic planning, reviewing which businesses they thought offered the best competitive advantages and potential for growth, the people said. Dynegy spokesman John Sousa declined...

Amazing. When things are going bad for companies, the media is all over it. Small investors are frightened and quite often sell their shares at a loss. At the same time, when things are turning around for a company...the pundits are unusually quiet and the big boys quickly accumulate shares at the lower prices. Dynegy was having a lot of trouble with debt post-Enron like many other utilities. With the difficulties came articles from The Street.com and others to effect that Dynegy was having a losing streak on earnings. Things are beginning to pick up as Dynegy is slowly, but...

NEW YORK, July 31 (Reuters) - Shares of U.S. power company Dynegy Inc. (NYSE:DYN - News) fell more than 12 percent on Thursday on investor fears that an upcoming convertible note offering could cost the company more than expected. "People are concerned about the pricing of the convertibles," said James Elliot, a portfolio manager with ELCO Management. Dynegy earlier this week said it will sell $300 million in new convertible debt as part of a plan to restructure $1.5 billion in convertible preferred shares held by oil company ChevronTexaco Corp. (NYSE:CVX - News). Dynegy said it will also issue $1.2...

HOUSTON (AP) - A fired Dynegy Inc. trader has been indicted on federal charges of wire fraud and reporting false trade information that could have influenced the price of natural gas. Michelle Marie Valencia, 32, was arrested Monday morning at her Houston home. She pleaded innocent before U.S. Magistrate Judge Calvin Botley, who set her bond at $100,000. She surrendered her passport and trial tentatively was set for March 10. The indictment, unsealed Monday, alleged Valencia reported 43 fake natural gas trades on three occasions from November 2000 to February 2001 to an industry newsletter, "Inside FERC Gas Market Report."...

SAN JOSE -- Calpine Corp. shares surged 21 percent, leading a rally of energy company stocks on optimism their prices will recover after leading declines among U.S. equities last year, analysts said. Shares of Calpine rose 70 cents to 3.96 in New York Stock Exchange composite trading, the biggest one-day rise in almost two months. The company was among the 10 worst-performing stocks on the Standard & Poor's 500 last year along with Dynegy Inc., which rose 9.3 percent Thursday, and Mirant Corp., 8 percent higher. Companies that sell wholesale electricity or trade power and natural gas tumbled in value...

LOS ANGELES -(Dow Jones)- Dynegy, Inc. (NYSE:DYN - News) Friday posted a response on its Web site denying charges by California's top energy regulator that it and five other energy firms could have prevented most of the state's power blackouts and service interruptions in 2000-2001. ADVERTISEMENT "After a thorough review of its own data and data from the California Independent System Operator (ISO), Dynegy concludes that generation capacity controlled by the company was offered or available to the ISO," the company said. The Sept. 17 report, released by California Public Utilities Commission President Loretta Lynch, said the companies failed to...

<p>Shortly before 9 p.m. on Nov. 11, 2000, opportunity fell into Steve Tish's lap, courtesy of California's energy crisis. Mr. Tish, a trader at PG&E Corp.'s National Energy Group, had been buying small blocks of power at a trading hub in Arizona. Now, another trader wanted the juice at the California-Oregon border, more than 800 miles away, at a price more than double what Mr. Tish had paid for it.</p>

<p>Folsom, California, July 3 (Bloomberg) -- Dynegy Inc., Williams Cos. and 10 other electricity suppliers were fined $122.1 million for failing to deliver enough supply during California's energy crisis in 2000 and 2001, the agency that manages the state's power grid said.</p>

<p>Former Enron suitor the latest energy trader to undergo management shake-up.</p> <p>NEW YORK (CNN/Money) - Dynegy Inc. Chairman and CEO Chuck Watson resigned Tuesday, and the troubled energy trader said it has appointed an executive of ChevronTexaco to replace him temporarily as chairman.</p>