Power Deals Surge as Blackstone, NRG Hunt Bargains

Acquisitions in the U.S. power industry surged more than 20-fold by value in the first eight months of the year. Advisers say expect more deals as buyers such as Blackstone Group LP bet electricity prices will rise with economic recovery.

Blackstone’s agreement this month to buy Dynegy Inc. of Houston for $4.7 billion, including assumed debt, brought the value of power deals announced in 2010 to $27.5 billion, almost 22 times the total at this time last year, according to Bloomberg data.