Dynegy Inc is believed to have outbid rivals Scottish & Southern and Scottish Power in the competition to buy two of Britain’s largest power stations, Fiddler’s Ferry and Ferrybridge. Dynegy is close to a deal, reckoned to be worth £600 million and payable to the present owners Edison International’s Edison Mission Energy.
Edison Mission paid £1.3 billion for the two power plants in 1999, but wholsale prices have slumped in the meantime, cutting their value.
Dynegy is buying aggressively in Europe. Some two months ago it bought the natural gas storage subsidiary of the UK’s BG Group for £421 million cash.
