Ameren on course to buy Illinois Power Company

US energy company Ameren Corp has received Illinois Commerce Commission approval to buy Illinois Power Company (IP) from Houston energy company Dynegy. The $2.3 billion deal – which is scheduled to be completed in the fourth quarter – still requires approval from the US Securities and Exchange Commission.

Missouri-based Ameren would acquire the stock of IP and Dynegy’s 20% interest in Electric Energy Inc (EEI), which owns a 1,086-megawatt coal-fired power plant based in Joppa, Illinois. Ameren currently owns 60% of EEI. It would assume IP’s estimated $1.8 billion of debt, pay Dynegy $375 million in cash and pay an additional $100 million that will be placed in escrow.

The transaction would also include a new power supply contract under which IP would annually buy 2,800 megawatts (MW) of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here