SOURCE: Industrial Info Resources

Industrial Info Resources

November 15, 2011 06:20 ET

Dynegy Subsidiaries File for Chapter 11 as Third-Quarter 2011 Results Hurt by Lower Generation, Prices, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Nov 15, 2011) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Energy service provider Dynegy Incorporated (NYSE:DYN) (Houston, Texas) saw overall declines in revenues and profits in the third quarter of 2011, as lower prices and lower generation in both coal and gas power more than offset any gains from renewed efforts toward cost reductions. Five of the company's subsidiaries recently filed for bankruptcy. The net loss for the quarter was reported to be $75 million, compared with a net loss of $24 million in third-quarter 2010.

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