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Reliant Energy International Inc. said it has sold its 50%indirect interest in a natural gas distribution company alongMexico’s Gulf Coast. Tractebel purchased Gas Natural de Rio Panucofrom an indirect subsidiary of Reliant and its Mexican partner,Corporacion Gutsa SA de CV (Gutsa) for $8.5 million. NorAm Energy,which was acquired by Reliant Energy in August 1997, partnered withGutsa to win a 30-year concession to build, operate and maintain anatural gas system in the northeastern Mexican state of Tamaulipas.The area includes the cities of Tampico, Ciudad Madero andAltamira, which lie in the Panuco River Basin, and has a totalpopulation of one million.
The Illinois Commerce Commission (ICC) gave its full approval toDynegy’s merger with Illinova. Only Nuclear Regulatory Commissionreview stands in the way of a completed merger, and the companiesexpect the NRC to rule favorably by the end of the year. TheCommission’s decision yesterday was based on the combined company’splans for its gas operations in the state. The Commission hadalready issued its approval for the electric operations inSeptember. The combined company will be named Dynegy Inc. and willbe headquartered in Houston. It will have a $7.5 billion bookvalue, own an interest in plants which total more than 14,000 MW ofgross domestic generating capacity, average North American naturalgas sales of 9.1 Bcf/d.
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