Dynegy-Vistra Close Merger Worth $20 Billion

Dynegy Headquarters
Margie Diddams, left, dressed in a “coal monster” suit, and Evelyn Sardina, holding the Sierra Club banner, protest outside Dynegy’s downtown headquarters in Houston. (ERIN TRIEB, Huston Chronicle)

Invest in Illinois Communities, Not Texan Corporations”

CHICAGO, IL –(ENEWSPF)—April 9, 2018

By: Renner Barsella

Today, Dynegy and Vistra closed their previously announced merger. Texas based Vistra will take over ownership and operation of Dynegy assets including all of its struggling downstate coal-fired power plants.

In response, Sierra Club Illinois Director Jack Darin released the following statement:

“The $20 billion merger between Dynegy and Vistra should put an immediate end to any consideration of rate hikes or weaker air pollution protections Dynegy has proposed as bailouts. Since making a risky investment in Ameren’s coal-fired power plants in Illinois, Dynegy has been pleading financial hardship as they’ve asked for bailouts and changes in pollution rules. History has shown that these efforts are about protecting shareholders, not Illinois workers. As we’ve seen recently, Vistra appears to have the same business plan.

“Governor Rauner should be demanding worker protections and making sure coal ash clean up isn’t left to taxpayers. Instead, he is pushing backdoor bailouts for these corporations, like the proposed changes to Illinois’ air pollution rules, and obstructing stronger coal ash protections. Out-of-state energy corporations who have no long-term commitment to Illinois communities are not a good bet for our local economies. Let’s invest in Illinois communities, not Rauner’s friends at Texas’s big coal companies. Illinois needs sustainable jobs for working families and bold economic development powered by 100% clean energy.”

About the Sierra Club

The Sierra Club is America’s largest and most influential grassroots environmental organization, with more than 3 million members and supporters. In addition to helping people from all backgrounds explore nature and our outdoor heritage, the Sierra Club works to promote clean energy, safeguard the health of our communities, protect wildlife, and preserve our remaining wild places through grassroots activism, public education, lobbying, and legal action. For more information, visit www.sierraclub.org.

Source: www.sierraclub.org