Dynegy founder Watson recalls dawn of deregulation

Departure from firm in 2002 was ‘right decision’, says former CEO

Chuck Watson
Chuck Watson

Nearly three decades ago, Chuck Watson had a meeting at the airport in Denver, Colorado, that changed his life.

It was 1985 and Watson was working for oil producer Conoco – then based in Delaware – overseeing the company's strategy for dealing with energy market deregulation. He began getting calls from John Barr, an investment banker at Morgan Stanley, who wanted him to head a new venture called the US Natural Gas Clearinghouse. Watson was sceptical, but agreed to meet.

"We were going to meet f

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