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Parents Of Retail Suppliers To Exchange Ownership Of Generation Assets
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Vistra Energy Corp. and NextEra Energy, Inc. have applied at FERC for a series of transactions that will ultimately result in two generating assets currently co-owned by the companies to each becoming solely owned by one of the respective companies
Currently, Vistra and NextEra co-own Northeast Energy Associates (NEA), which owns a natural gas fired facility comprised of
two combustion turbine generators and one steam turbine generator, with a combined nameplate
rating of 349.4 MW and a capacity rating of approximately 283 MW (summer) and 337 MW
(winter), located in Bellingham, Massachusetts in the ISO New England, Inc. Balancing Authority Area
Vistra and NextEra also co-own North
Jersey Energy Associates (NJEA), which owns a natural gas fired facility comprised of two combustion turbine generators
and one steam turbine generator, with a combined nameplate rating of 349.4 MW and a capacity
rating of approximately 300 MW (summer) and 334 MW (winter), located in Sayreville, New Jersey in the PJM Interconnection, L.L.C. BAA
"Vistra and NextEra currently each indirectly own 50% of the
outstanding interests in NJEA and NEA through their ownership of limited and general partnership
interests in Northeast Energy, LP. Under the Proposed Transaction, Vistra and NextEra seek to
rationalize their interests through a multi-step transaction that will result in NJEA becoming an
indirect wholly-owned subsidiary of Vistra and NEA becoming an indirect wholly-owned
subsidiary of NextEra," the companies said
Upon
consummation of the proposed transaction, Vistra will indirectly hold all of the outstanding
partnership interests in NJEA, and NextEra will indirectly hold all of the outstanding partnership interests in NEA.
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January 8, 2020
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Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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