Dynegy $900 million deal for Ameren nears completion

• 10 years ago (2013-12-04)
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Houston’s Dynegy Inc. is nearing completion of a deal to acquire St. Louis based Ameren Corp.’s merchant generation unit, including five coal-fired power plants in Illinois.

The deal was finalised this week, with Dynegy recently granted a five-year pollution-control waiver covering the aging coal plants.

Ameren had agreed to sell its Ameren Energy Resources Co. LLC (AER) generation unit to Dynegy back in March, in a deal worth $900 million and bringing Dynegy’s ownership of coal-fired plants in Illinois up to nine.

AER consists primarily of Ameren Energy Generating Co. (Genco), including Genco’s 80 per cent ownership of Electric Energy Inc., AmerenEnergy Resources Generating Co. (AERG), and Ameren Energy Marketing Co. (AEM).

Also Included in the sale to Dynegy are the AEM retail and marketing businesses, doing business as Homefield Energy, and five plants across Illinois: Duck Creek in Canton, Coffeen in Montgomery County, E.D. Edwards in Bartonville, Newton in Jasper, and a plant in Joppa.

Ameren cites weaker power prices behind its decision to move away from plant ownership and selling electricity at market rates.