IPPs and Merchant Energy Co.s Message Board

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Strategies & Market Trends : IPPs and Merchant Energy Co.s

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To: tom pope who wrote (2815)	8/25/2003 3:25:50 PM
From: Larry S.	Read Replies (1) of 3358

Dynegy Generation Announces Long-Term Capacity And Energy Contract With Cobb EMC DOW JONES NEWSWIRES HOUSTON -- Dynegy Inc. (DYN) agreed to sell electric capacity to Georgia-based electricity cooperative Cobb Electric Membership Corp. Financial terms weren't disclosed. In a press release Monday, Dynegy said it will provide the nation's second-largest energy co-op with up to 500 megawatts over a six-year period beginning in January 2005, with a five-year extension option. Dynegy's 500-megawatt natural gas-fired peaking facility in Franklin, Ga., will anchor the output required by the contract. Atlanta-based Energy Consulting Group LLC assisted Cobb EMC in the development of its agreement with Dynegy. Two weeks ago, Dynegy reversed its forecast for 2003, saying it expected to report a loss for the year due to losses on the company's energy-trading contracts and discontinued telecommunications business. However, Dynegy said its continuing power-generation business and natural-gas liquids business are delivering solid performance. For 2002, Dynegy reported a loss of $2.03 billion, or $6.44 a share, from continuing operations, excluding an accounting adjustment, on revenue of $4.95 billion.

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