-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 DgE51IqHPo5KFo6JPS1/xV2GECfG3/te74JNWOINdYInN7/G41elVg123R5vNxKc
 Z5Pnab27U/PILyoxjC6c4Q==

<SEC-DOCUMENT>0001209191-10-019062.txt : 20100329
<SEC-HEADER>0001209191-10-019062.hdr.sgml : 20100329
<ACCEPTANCE-DATETIME>20100329183719
ACCESSION NUMBER:		0001209191-10-019062
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100325
FILED AS OF DATE:		20100329
DATE AS OF CHANGE:		20100329

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Segal Mikhail
		CENTRAL INDEX KEY:			0001392345

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33443
		FILM NUMBER:		10711801

	MAIL ADDRESS:	
		STREET 1:		1700 BROADWAY, 35TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DYNEGY INC.
		CENTRAL INDEX KEY:			0001379895
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				205653152
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0101

	BUSINESS ADDRESS:	
		STREET 1:		1000 LOUISIANA STREET, SUITE 5800
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002
		BUSINESS PHONE:		(713) 507-6400

	MAIL ADDRESS:	
		STREET 1:		1000 LOUISIANA STREET, SUITE 5800
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Dynegy Inc..
		DATE OF NAME CHANGE:	20070404

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Dynegy Acquisition, Inc..
		DATE OF NAME CHANGE:	20070403

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Dynegy Acquisition, Inc.
		DATE OF NAME CHANGE:	20061102
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c98533_4x0.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-03-25</periodOfReport>

    <issuer>
        <issuerCik>0001379895</issuerCik>
        <issuerName>DYNEGY INC.</issuerName>
        <issuerTradingSymbol>DYN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001392345</rptOwnerCik>
            <rptOwnerName>Segal Mikhail</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O LS POWER EQUITY ADVISORS, LLC</rptOwnerStreet1>
            <rptOwnerStreet2>1700 BROADWAY, 35TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-03-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>677677</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.3387</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>85392327</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Remarks</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2010-03-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>628206</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.2707</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>84764121</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Remarks</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Of these shares, LS Power Associates, L.P. (&quot;LSP Associates&quot;) sold 97,351 shares, LS Power Equity Partners, L.P. (&quot;LSPEP&quot;) sold 349,038 shares, LS Power Equity Partners PIE I, L.P. (&quot;PIE I&quot;) sold 211,648 shares, LS Power Partners, L.P. (&quot;LSP Partners&quot;) sold 11,335 shares  and LSP Gen Investors, L.P. (&quot;Gen Investors&quot;) sold 8,305 shares.</footnote>
        <footnote id="F2">Of these shares, LSP Associates directly holds 12,266,928 shares, LSPEP directly holds 43,981,400 shares, PIE I directly holds 26,669,180 shares, LSP Partners directly holds 1,428,267 shares and Gen Investors directly holds 1,046,552 shares.</footnote>
        <footnote id="F3">Of these shares, LSP Associates sold 90,244 shares, LSPEP sold 323,559 shares, PIE I sold 196,197 shares, LSP Partners sold 10,507 shares  and Gen Investors sold 7,699 shares.</footnote>
        <footnote id="F4">Of these shares, LSP Associates directly holds 12,176,684 shares, LSPEP directly holds 43,657,841 shares, PIE I directly holds 26,472,983 shares, LSP Partners directly holds 1,417,760 shares and Gen Investors directly holds 1,038,853 shares.</footnote>
    </footnotes>

    <remarks>As a result of the Reporting Person's position, relationship and/or affiliation with the general partners of LS Power Partners, L.P.,
LS Power Associates, L.P., LS Power Equity Partners, L.P., LS Power Equity Partners PIE I, L.P., and LSP Gen Investors, L.P. (collectively,
the &quot;LS Entities&quot;), the Reporting Person may be deemed the beneficial owner of the Issuer's securities held by the
LS Entities.  The Reporting Person disclaims beneficial ownership of such securities, and this report shall not be deemed an admission
that the Reporting Person is the beneficial owner of the Issuer's securities reported on this Form 4 for purposes of Section 16
of the Securities Exchange Act of 1934, as amended, or for any other purpose.</remarks>

    <ownerSignature>
        <signatureName>/s/ Mikhail Segal</signatureName>
        <signatureDate>2010-03-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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