Back in late October, I highlighted Dynegy (NYSE:DYN) in this video. During that segment I suggested any approval by the Illinois Pollution Control Board to give Dynegy five years to meet environmental standards for coal-fired power plants in Illinois could create a bullish momentum play for those investing in energy.

That upside view would gain strength especially if natural gas prices move upward this winter considering this company's trading pattern is very much correlated with the direction of natural gas futures. Well, they did receive regulators approval to defer pollution control on those coal plants and prices of natural gas are ticking higher so this may now be a name to consider from the long side. 

John Licata has no position in any stocks mentioned. You can follow John on Twitter at bluephoenixinc. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.