FERC Approves Sale of Duke Retail, Merchant Plants

FERC approved the sale of Duke Energy Retail and 6,100 MW of Duke merchant generation to Dynegy.

The transaction is expected to close April 2.

Separately, FERC also approved Dynegy's acquisition of EquiPower Resources Corp. and Brayton Point Holdings, LLC from Energy Capital Partners, which included 6,300 MW of generation in MISO, PJM and ISO-NE.

After closing the Duke Midwest transaction and the EquiPower and Brayton Point Holdings transactions, Dynegy Inc. will own and operate nearly 26,000 megawatts of power generating facilities, primarily in the Midwest and Northeast. Dynegy will provide electricity to individuals, municipalities and businesses in Illinois, Ohio and Pennsylvania through its retail brands Homefield Energy and Dynegy Energy Services.

In announcing the acquisition in August 2014, Dynegy said that Duke Energy Retail would add over 7 terawatt-hours of annual retail load in PJM to Dynegy's retail book, and that the post-transaction retail business would serve over 20 TWh of load evenly split between MISO and PJM,