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ELP Volume 78 Issue 1
Dynegy selling plant shares to El Paso: El Paso Energy Corp.`s subsidiary, El Paso Merchant Energy Co., will buy Dynegy`s California cogeneration plants for $255 million. The Dynegy assets provide El Paso with part ownership in 11 gas-fired power generation plants and a combined capacity of 370 MW. The deal also includes an operating company with turbine maintenance.
FERC decided that Williams, Coastal and National Fuel Gas failed to show there was enough demand for a $1.2 billion pipeline (Independence project) designed to bring natural gas to the Northeast. FERC voted to ask the developers for more information, including potential impacts on the environment.