Dynegy (NYSE: DYN) is a holding company that engages primarily in power generation in the Midwest, Northeast and Southwest. The company operated primarily by producing wholesale energy then packaging and selling it to retail utility companies. With approximately 12,300 Megawatts (MW) of energy capacity and operations in six states, Dynegy is a serious industry player.
Over the past few years, Dynegy has undergone serious restructuring, recovering from a series of bad missteps in the early 2000s. Originally known as Natural Gas Clearinghouse, the company took a turn for the worse when it rebranded itself Dynegy in 1998, in the spirit of the much heralded "New Economy." As part of this shift, Dynegy began to rapidly expanding to areas like energy trading and broadband internet, adopting the strategies of its larger rival Enron. Dynegy would almost follow Enron into bankruptcy after an investigation revealed fraudulent accounting practices in 2001.(Read more at Wikinvest )