Dynegy Inc. – formerly NGC Corp. – plans to construct agas-fired, four-unit, 600 MW generation facility in RockinghamCounty, NC, and Duke Power, the electric utility of Duke Energysigned a letter of intent to buy the 600 MW of capacity and energygenerated by the power plant.

Dynegy Power Corp. is finalizing scope, design and procurementdetails for the generation facility. Once completed, the facilitywill serve demand of Duke Power and other wholesale customers inthe region. The contract with Duke begins June 1, 2000 and runsthrough 2003, with Duke having the option to extend it through2008.

“The development of the Rockingham Power Facility and theservices we’re providing Duke are both examples of Dynegy’scommitment to the continued expansion of our power generation andmarketing portfolio,” said Dynegy Chairman Chuck Watson. “TheRockingham facility strengthens our regional presence and positionsus to better meet the growing demands of the southeastern marketsand the specific needs of Duke and their customers.”

Ted McMeekin, senior vice president of power generation for DukePower, said because the plant will be in Rockingham County it willbe able to deliver reliable power throughout the Duke Power region- especially during the critical demand periods of the summer.

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