US Power Generating Company (“USPowerGen”) owns and operates fifty-eight generating units at six facilities with a total capacity of over 5,000 Megawatts (MW). USPowerGen subsidiaries sell their energy and capacity into the NYISO and ISO-New England deregulated markets. The combined company represents generation sufficient to serve approximately 20% of the overall load in New York City as well as approximately 50% of the overall load in the Boston metropolitan area.
USPowerGen is led by Mark Sudbey, the CEO, and a management team headquartered in New York City. Equity investors include affiliates of Madison Dearborn Partners LLC, the family of Ray L. Hunt of Dallas, Texas, which controls Hunt Oil Company, and a significant number of financial institutions, as well as the management team. A predecessor of the Company (“USPLLC”) was started in 2003 to acquire US merchant power projects and other unregulated power assets. It acquired Astoria Generating Holdings LLC (“Astoria Generating”) on February 23, 2006. On June 1, 2007 Astoria Generating Holding LLC merged with EBG Holdings LLC (“Boston Generating”) and both companies became subsidiaries of US Power Generating Company.