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Forward-Looking Statements

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This web site contains statements reflecting assumptions, expectations, projections, intentions or beliefs about future events that are intended as "forward-looking statements." All statements included in this website, other than statements of historical fact, that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements represent our reasonable judgment on the future based on various factors and using numerous assumptions and are subject to known and unknown risks, uncertainties and other factors that could cause our actual results and financial position to differ materially from those contemplated by the statements. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "project," "forecast," "plan," "may," "will," "should," "expect" and other words of similar meaning. In particular, these include, but are not limited to, statements relating to the following:

  • our ability to consummate the acquisition of certain power generation facilities from Ameren Corporation;
  • our ability to consummate the Facilities Sale Transactions in accordance with the Settlement Agreement, the Chapter 11 Joint Plan of Liquidation and the Danskammer and Roseton Asset Purchase Agreements;
  • lack of comparable financial data due to the application of fresh-start accounting;
  • beliefs and assumptions relating to our liquidity, available borrowing capacity and capital resources generally, including the extent to which such liquidity could be affected by poor economic and financial market conditions or new regulations and any resulting impacts on financial institutions and other current and potential counterparties;
  • limitations on our ability to utilize previously incurred federal net operating losses or alternative minimum tax credits;
  • expectations regarding our compliance with the DMG and DPC Credit Agreements and DPC’s Revolving Credit Agreement, including collateral demands, interest expense, financial ratios and other payments;
  • the timing and anticipated benefits of any refinancing of the DMG and DPC Credit Agreements;
  • efforts to secure retail sales and the timing of such sales;
  • the timing and anticipated benefits to be achieved through our company-wide cost savings programs, including our PRIDE initiative;
  • efforts to identify opportunities to reduce congestion and improve busbar power prices;
  • expectations regarding environmental matters, including costs of compliance, availability and adequacy of emission credits, and the impact of ongoing proceedings and potential regulations or changes to current regulations, including those relating to climate change, air emissions, cooling water intake structures, coal combustion byproducts, and other laws and regulations to which we are, or could become, subject;
  • beliefs, assumptions and projections regarding the demand for power, generation volumes and commodity pricing, including natural gas prices and the impact on such prices from shale gas proliferation and the timing of a recovery in natural gas prices, if any;
  • sufficiency of, access to and costs associated with coal, fuel oil and natural gas inventories and transportation thereof;
  • beliefs and assumptions about market competition, generation capacity and regional supply and demand characteristics of the wholesale power generation market, including the anticipation of higher market pricing over the longer term;
  • the effectiveness of our strategies to capture opportunities presented by changes in commodity prices and to manage our exposure to energy price volatility;
  • beliefs and assumptions about weather and general economic conditions;
  • projected operating or financial results, including anticipated cash flows from operations, revenues and profitability;
  • our focus on safety and our ability to efficiently operate our assets so as to capture revenue generating opportunities and operating margins;
  • beliefs about the costs and scope of the ongoing demolition and site remediation efforts at the South Bay and Vermilion facilities;
  • beliefs and assumptions regarding the outcome of the SCE contract terminations dispute and the impact of such terminations on the timing and amount of future cash flows;
  • ability to mitigate impacts associated with expiring RMR and/or capacity contracts;
  • beliefs about the outcome of legal, administrative, legislative and regulatory matters, including the impact of final rules regarding derivatives to be issued by the CFTC under the Dodd-Frank Act; and
  • expectations and estimates regarding capital and maintenance expenditures.

Any or all of our forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, many of which are beyond our control, including those set forth under the section entitled "Risk Factors" of our most recent Annual Report on Form 10-K, as amended, and subsequent reports on Form 10-Q. Please read our annual, periodic and current reports under the Securities Exchange Act of 1934, as amended, for additional information about the risks, uncertainties and other factors affecting these forward-looking statements and our business generally. Our actual future results may vary materially from those expressed or implied in any forward-looking statements. All of our forward-looking statements, whether written or oral, are expressly qualified in their entirety by these cautionary statements and any other cautionary statement that may accompany such forward-looking statements. In addition, forward-looking statements speak only as of the date they are made, and we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of the document containing such forward-looking statements, except as otherwise required by applicable law.