A PYMNTS Company

US: Power company continues divestments to get out of red

By  |  March 12, 2013

Power company Dominion Resources Inc. has announced it will be divesting three out-of-state merchant generation power structures as the company gradually leaves the unregulated power sector. While the deal still remains subject to approval by government antitrust authorities as well as the Federal Energy Regulatory Commission, the divestments – to be sold to a private equity firm – are expected to result in about $650 million. According to reports, the company will use the cash to reduce debt and to invest in its regulated businesses.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Times Dispatch

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.