Dynegy Inc. said it would use the net proceeds from the sale of an additional $50 million of debentures on Tuesday to repay a portion of its $244 million Term B loan outstanding under its restructured credit facilities. Dynegy recently completed the private placement of $175 million of its 4.75% convertible subordinated notes due in 2023, and the initial purchasers of the debentures exercised their option to purchase the additional debentures on the same terms.

ATCO Gas has filed with the Alberta Energy and Utilities Board (AEUB) its proposed September natural gas rate (GCRR – Gas Cost Recovery Rate) of C$6.006 per gigajoule (gj) for customers in southern Alberta. This gas rate reflects the net cost to customers after production rider and storage rider credits are applied. The August rate was C$4.001/gj. The company noted that the proposed rate reflects the projected cost of purchasing natural gas, without mark-up, in September while accounting for any accumulated surplus or deficit from the previous month. ATCO said the average customer uses about 5 gj of natural gas in September. If approved, the new rates will take effect on the first of September.

Nevada officials indicated last week there could be regulatory and legislative activity to tighten the requirements for intervenors in cases before the Nevada Public Utilities Commission. At a meeting last Friday, Don Soderberg, the head of the three-member Nevada PUC, said the state regulatory commission is facing more of an attorney-based problem than one related to the parties who seek to intervene in PUC cases. Thus, he indicated that in the future attorneys will be required to be licensed in Nevada to represent clients before the PUC. Soderberg this week will send out a letter to all of the stakeholders and parties reminding them of this requirement, which already exists in state law, and was further upheld recently by the Nevada state Supreme Court, according to a Las Vegas-based PUC spokesperson. The Nevada PUC general counsel affirmed that non-profits, including ones informally organized to represent businesses and interest groups, need to document their knowledge of the state’s utility regulations.

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