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Dynegy Reiterates Conditions Required To Pursue Inorganic Retail Acquisitions

August 7, 2017

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Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

During an earnings call on Friday, Dynegy CEO Robert Flexon reiterated that, while the company will look at opportunistic retail acquisitions, any such acquisitions would be conditioned on not impeding its deleveraging, and would need to be accretive to shareholders

Asked about retail growth and M&A, Flexon said, "Well we're certainly going to grow it organically, so that's underway and we'll continue to do that. And in terms of actually acquiring anything I mean that can only be in the context where it doesn't do anything to impede our progress to our leverage target. So as, we've done for years, we make sure we're aware of the different opportunities around us, whether that's on the wholesale or the retail side, and just at least understand it, and if we find something that we think makes sense, we will evaluate it, but it's got to be: 1) it can't impede our progress towards our leverage target and 2) it has to be accretive to our shareholders. And if it doesn't meet those two objectives then we'll just continue to work organically. Organically, we've got the infrastructure. We're going into new communities. Pennsylvania, Massachusetts are new communities for us, and we'll continue to penetrate it using our existing model. So we don't have to go out and do anything, but if there's something, again opportunistically, that clears those first two hurdles, we would look at it."

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