FERC Directs Dynegy to Submit More Info on Duke Merchant (Retail) and ECP Transactions

FERC has directed Dynegy to submit more information concerning its application for approval of separate transactions under which it would acquire Duke's Midwest merchant generating plants (and retail supply business) and several power plants from Energy Capital Partners

FERC said that Dynegy's analysis does not adequately address whether the proposed transactions raise any horizontal market power issues in PJM. "The applications also do not adequately demonstrate that a 6.5% market share is de minimis," FERC said, directing Dynegy to perform and submit a Delivered Price Test for the PJM market and the following submarkets: AP South; 5004/5005; and PJM East.

Click here for background on the transactions

Due to FERC's request for additional information, Dynegy does not expect the transactions to close by the end of the first quarter of 2015. Dynegy said that it, Duke and Energy Capital Partners remain committed to closing the transactions as quickly as possible.