Dynegy Inc. disclosed late in the day Friday that it had dismissed six employees and will discipline seven others in its natural gas trading business for violations of company policies. The violations are related to previously disclosed findings by the company that some employees in the marketing and trading unit provided inaccurate information on natural gas trades to various energy publications that compile and report index prices.

The publications were not named. The disciplinary actions were taken as a result of an ongoing investigation conducted by the Audit and Compliance committee of Dynegy’s board of directors and in collaboration with independent counsel, said Dynegy.

“Our Code of Business Conduct represents a commitment from all employees that they will conduct themselves in an ethical and responsible manner,” said Chairman Dan Dienstbier. “It is our practice to investigate any possible violation fully and take the appropriate corrective actions to maintain the integrity of our workplace.”

Dynegy discovered the inaccuracies during an internal review of its trading activities, which is being conducted as part of an ongoing Commodity Futures Trading Commission investigation. In connection with the investigation, the company also has relieved a corporate compliance officer of his responsibilities. In response to its findings, the company has instituted measures that will ensure the office of the chief risk officer verifies all price information provided to industry publications. Dynegy said it would resume its practice of reporting price information to industry publications in the near future.

As part of its announced exit from energy marketing and trading, late Friday Dynegy also entered into a letter of intent to sell a “significant” portion of its Canadian physical natural gas marketing business to The Seminole Group Inc., which serves approximately 600 commercial and industrial customers in the country. Dynegy also agreed to sell to Seminole its 50% ownership in Tidal Energy Marketing Inc., a wholesale crude marketing company.

The transactions are expected to close next month. No financial details were disclosed. Dienstbier said that until the transactions are completed, Dynegy will serve its customers and honor any contractual obligations to them. Two of Dynegy’s operating units, Dynegy Generation and Dynegy Midstream Services, will continue marketing and trading activities around their physical energy assets, he said. Seminole also plans to keep about 35 of the 70-member Dynegy Canada staff associated with the marketing group.

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