Dynegy Inc. (ticker: DYN, exchange: New York Stock Exchange (.N))
News Release -
FERC Filing: No Dynegy `Wash' Transactions in WestHOUSTON, May 31, 2002 (BUSINESS WIRE) -- Dynegy Inc. (NYSE:DYN) today stated
that it did not execute "wash," "round-trip" or "buy and sell" power trading
activities during 2000-2001 in the Western Systems Coordinating Council (WSCC),
the interconnected electrical grid for the West that includes California.
In today's response to the Federal Energy Regulatory Commission (FERC), Dynegy
noted that its review of approximately 39,000 WSCC trades during the two-year
period revealed no "wash" transactions.
In a filing with FERC last week, Dynegy denied participating in any of the
activities described in a series of Enron memos. Dynegy has pledged its full
cooperation in all official requests for information, including a FERC request
for information due next week on the natural gas-trading activities of WSCC and
Texas market participants.
Dynegy Inc. produces and delivers energy, including natural gas, power, natural
gas liquids and coal, through its owned and contractually controlled network of
physical assets. The company serves customers by aggregating production and
supply and delivering value-added solutions to meet their energy needs.
CONTACT: Dynegy Inc., Houston
John Sousa, David Byford or Steve Stengel, 713/767-5800
Margaret Nollen, Arthur Shannon or
Katie Pipkin, 713/507-6466
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