The recent bond offering and stock refinancing by Dynegy Inc. mitigated some concern on the company’s near-term liquidity position and financial flexibility, but they haven’t led to a change in its overall credit quality, Standard & Poor’s (S&P) analysts said Friday.
Mitigates
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FERC Mitigates, Caps and Infiltrates California Market
FERC voted Wednesday to continue the must-offer requirement and westwide power price cap for generators starting Oct. 1 at the $250/MWh level, with some price mitigation between $97.87 (the current cap) and the $250 level. The Commission also told the California Independent System Operator (Cal-ISO) to speed up creation of day-ahead and ancillary services markets to Jan. 1, 2003, reform its governing board and get ready for the FERC personnel who will be installed in the Cal-ISO operations center.
July 22, 2002
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