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Proposed Texas PUC Order Would Require Sale of Luminant Plant As Part of Dynegy Acquisition

March 12, 2018

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

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A Texas ALJ has issued a proposed order concerning Vistra Energy's application to acquire Dynegy that would require the sale of at least one of two Luminant power plants for the transaction to be approved

The proposed order would provide that, "The application for approval of the proposed transaction is granted conditioned upon applicants selling at least either the Stryker Creek or Graham power plant before closing the transaction."

The capacity of Stryker Creek power plant is 679 MW.

The capacity of Graham power plant is 624 MW.

In calculating Luminant's post-merger market share, the Proposed Order contemplates the inclusion of 820 MW of DC tie import as recommended by Commission Staff and the exclusion of the 915 MW capacity of Luminant's Lake Hubbard power plant based on the grandfathering exemption (a statutory exemption related to restructuring legislation) as recommended by the applicants.

Based on such calculation, the post-merger entity would have 20.63% ERCOT market share, prior to the required asset sale. The sale of either Stryker Creek or Graham would result in the combined entity having about 19.9% market share.

Docket 47801

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