Dynegy to buy out DP&L’s stakes in plants

Dynegy this week moved to buy ownership stakes from Dayton Power and Light in a pair of Ohio power plants.

Dynegy’s will purchase DP&L’s entire 28.1 percent interest in the William H. Zimmer generating station, a coal-fired electric generating plant in Moscow, Ohio, and 36 percent interest in Miami Fort units 7 and 8, in North Bend, Ohio, Dynegy said in a filing this week with the U.S. Securities and Exchange Commission.

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To get approximately 740 megawatts, the company paid $50 million in cash and the assumption of certain liabilities, including environmental liabilities, the filing said.

The cash price is subject to adjustment at closing based on the amount of inventory, employment benefits, insurance premiums, property taxes and other factors, the filing said.

Last month, a Dynegy spokeswoman told the Dayton Daily News the company wanted to increase its stake in the two plants.

DP&L has signaled its intention to sell its stake in three Ohio coal-fired power plants.

Dynegy Inc. owns and operates the Miami Fort and Zimmer stations while American Electric Power owns a third station, a Conesville power station. In all, those are a trio of coal fired units whose ownership stakes DP&L plans to sell, the utility said last month in filings with Public Utilities Commission of Ohio.

Zimmer has 214 workers while Miami Fort has 149. The Conesville station has about 210 employees.

“We would like to increase our ownership of these plants to 100 percent,” Dynegy spokeswoman Meredith Moore told this news outlet in March. “We plan to continue operating those plants as we do today.”


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