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Dynegy reports nearly $300 million loss for second quarter

In February, Dynegy closed on a $3.3 billion deal to buy more than a dozen power plants from the French company Engie. The acquisition will bring 17 power plants - most of them natural gas-fired - into Dynegy's network and add more than 9,000 megawatts to Dynegy's generating capacity. (One megawatt is enough to power 200 homes on a hot Texas day.) Six of the plants are in Texas.

 

Dynegy has divested much of its coal holdings but finds itself burdened with heavy debts through the acquisition of gas-fired plants at a time when wholesale electricity prices - and profits - are low. The company, operating under the weight of $9.2 billion in debt, is said to be in talks with Dallas-based Vistra Energy about a possible merger.


Committee to Elect Byron Bradford
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