Energy

By Staff -- Purchasing, 7/15/1999

Utilities Illinova Corp. and Dynegy Inc. have agreed to a $4 billion merger, creating an electric and natural gas company with about $17 billion in combined revenues. The new parent firm will be called Dynegy Inc. and will be based in Houston. Illinova is based in Decatur, Ill....The Federal Energy Regulatory Commission has cleared the first foreign purchases of U.S. utilities, approving two separate deals by British firms worth a total of $12.4 billion. Scottish Power is to buy PacifiCorp of Portland, Ore., for $9.2 billion. PacifiCorp provides power to 1.5 million customers in Oregon, Idaho, Utah, Wyoming, California, and Washington. Also, National Grid, the world's largest privately owned transmission company, is to buy New England Electric System of Westboro, Mass., for $3.2 billion. NEES has 1.3 million electric power customers in Massachusetts, Rhode Island, and New Hampshire.

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