Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Blodgett J Kevin
   2. Issuer Name and Ticker or Trading Symbol
DYNEGY INC. [DYN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
General Counsel & Exec VP
(Last)
(First)
(Middle)
1000 LOUISIANA, SUITE 5800		 3. Date of Earliest Transaction (Month/Day/Year)
08/13/2007
(Street)

HOUSTON, TX 77002		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 08/13/2007   M   2,666 A $ 1.77 61,947 D  
Class A Common Stock 08/13/2007   M   16,753 A $ 4.48 78,700 D  
Class A Common Stock 08/13/2007   M   33,743 A $ 4.3 112,443 D  
Class A Common Stock 08/13/2007   M   114,943 A $ 4.88 227,386 D  
Class A Common Stock 08/13/2007   S   76,059 D $ 9 (1) 151,327 D  
Class A Common Stock 08/13/2007   S   26,000 D $ 8.99 (1) 125,327 D  
Class A Common Stock 08/13/2007   S   10,000 D $ 8.97 (1) 115,327 D  
Class A Common Stock 08/13/2007   S   10,000 D $ 8.96 (1) 105,327 D  
Class A Common Stock 08/13/2007   S   15,000 D $ 8.95 (1) 90,327 D  
Class A Common Stock 08/13/2007   S   15,000 D $ 8.93 (1) 75,327 D  
Class A Common Stock 08/13/2007   S   4,000 D $ 8.92 (1) 71,327 D  
Class A Common Stock 08/13/2007   S   30,000 D $ 8.91 (1) 41,327 D  
Class A Common Stock 08/13/2007   S   10,000 D $ 8.9 (1) 31,327 D  
Class A Common Stock               8,734 I By 401(k) Plan (2)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) $ 1.77 08/13/2007   M     2,666 04/02/2007 02/05/2013 Class A Common Stock 2,666 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 4.48 08/13/2007   M     16,753 04/02/2007 02/10/2014 Class A Common Stock 16,753 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 4.3 08/13/2007   M     33,743 04/02/2007 01/19/2015 Class A Common Stock 33,743 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 4.88 08/13/2007   M     114,943 04/02/2007 03/16/2016 Class A Common Stock 114,943 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Blodgett J Kevin
1000 LOUISIANA
SUITE 5800
HOUSTON, TX 77002		       General Counsel & Exec VP  

Signatures

 /s/ Heidi D. Lewis, Attorney-in-Fact   08/15/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Proceeds exclude brokerage commissions, taxes and other costs associated with the transaction, including costs associated with the payment of underlying stock option exercise prices.
(2) Rounded. Reflects shares held for the reporting person's account by the Trustee of the Dynegy Inc. 401(k) Savings Plan as of August 13, 2007.

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