Briefly

International Power Board Approves Sale of Remaining Stake to GDF SUEZ

The International Power independent board members unanimously approved a revised offer made by GDF SUEZ for the 30% stake GDF SUEZ does not already own in International Power. The revised offer price is 418 pence per share and has been approved by the Board of GDF SUEZ. In case of a favorable vote from International Power minority shareholders, GDF SUEZ will own 100% of International Power shares. "The transaction will also enable GDF SUEZ to receive the full benefit of the synergies generated from the combination of GDF SUEZ and International Power which closed in February 2011," GDF SUEZ said.

GDF Suez Marketing to Pay $20,000 Under Settlement with PUCT Staff

GDF Suez Marketing NA, Inc. would pay $20,000 under a settlement with Staff of the Public Utility Commission of Texas to resolve Staff's allegations that GDF Suez Marketing NA violated § 39.151(j) of PURA and P.U.C. Subst. R. 25.503(f)(2), concerning failure to adhere to Electric Reliability Council of Texas (ERCOT) Protocols §§ 8.1.1, 8.1.1.2.1.3, and 8.1.1.4.3, relating to the failure of a resource providing Non-Spinning Reserve Service (NSRS) to meet its Low Sustained Limit (LSL) output within 25 minutes of deployment on February 2, 2011. According to the stipulation, GDF Suez confirmed that it did not meet its non-spin obligation on February 2, 2011 because unit TGF_TGFGT_1 (Texas Gulf Sulphur) failed to start to due the severe cold weather freezing instrumentation lines. GDF Suez has since taken various weatherization and other corrective actions.