acquisition

The District of Columbia Public Service Commission (PSC) on Friday (Feb. 26) rejected a restructured $6.8 billion merger proposal between Exelon and local electric utility Pepco, but offered a counter proposal with conditions that the two companies are likely to approve easily, according to local opponents of the merger. The commission turned down the merger […]

Dynegy Inc. and Energy Capital Partners (ECP), through a newly formed joint venture, have agreed to acquire ENGIE’s U.S. fossil-fueled power generation portfolio, consisting of 8,731 MW of capacity located in the ERCOT, PJM, and ISO–New England transmission regions. The $3.3 billion deal was announced on February 25, with an expected closing date in the […]

Canadian utility Fortis wants to acquire ITC Holdings Corp., the largest independent electric transmission company in the U.S., to benefit from “low-risk” regulated power markets. The deal valued at about $11.3 billion will allow Fortis to enter the U.S. regulated power market overseen by the Federal Energy Regulatory Commission (FERC), providing a “unique, highly diversified, […]

Richmond, Va.–based Dominion Resources announced on February 1 that it would add to its more than 12,000 miles of natural gas transmission, gathering, and storage pipeline, by acquiring Salt Lake City, Utah–headquartered Questar Corp. The $4.4 billion deal would pay Questar shareholders $25 per share of common stock, a 30% premium to the company’s volume-weighted […]

There has been a major shake up in the contractors involved in both of the new AP1000 nuclear power plant projects under construction in the U.S. Westinghouse Electric Co. LLC, a group company of Toshiba Corp., announced on Oct. 27 that it signed a definitive agreement to acquire CB&I Stone & Webster Inc., the nuclear […]

Within the space of less than a week, four deals have been announced that will result in ownership changes at five power plants in the U.S. Northeast. Calpine Buys Another Gas Plant Calpine Corp. announced on Oct. 13 that it has agreed to acquire the Granite Ridge Energy Center, a 745-MW combined cycle gas-fired power […]

The final hurdle for Exelon Corp.’s purchase of Pepco Holdings Inc. (PHI) became the ultimate stumbling block, as the Public Service Commission of the District of Columbia (DCPSC) could not be persuaded that the merger was in the public interest. The DCPSC—an independent agency established by Congress to regulate electric, natural gas, and telecommunications companies […]

Southern Co. and AGL Resources—the largest natural gas–only distribution company in the U.S.—have agreed to merge in a deal that will make AGL Resources a wholly-owned subsidiary of the giant electric company. The transaction announced on Aug. 24 has an enterprise value of about $12 billion, including a total equity value of approximately $8 billion. […]

As part of a remedy package to appease the European Commission, Alstom will accept $331 million less than the original $13.63 billion purchase price offered by General Electric (GE) to close the deal.  The much-anticipated deal has come under close scrutiny by the European Commission, which opened a full-scale antitrust investigation into the deal on […]

Talen Energy Corp. announced on July 20 that it has agreed to acquire MACH Gen LLC, which owns three combined cycle, natural gas–fired power plants with more than 2.5 GW of total capacity for $1.175 billion. Talen Energy was formed on June 1 when PPL Corp. spun off its PPL Energy Supply business and combined […]