Edison International Unit Completes Acquisition Of Two
Generating Plants in the United Kingdom London (PROTEXT)
Edison International's (NYSE: EIX) wholly owned power generation subsidiary, Edison Mission Energy, today announced it has completed the acquisition of the Ferrybridge and Fiddler's Ferry coal- fired electric generating plants. Edison Mission Energy paid PowerGen approximately 1.25 billion pounds Sterling (US$2.0 billion) for the two plants. Ferrybridge, located in West Yorkshire, and Fiddler's Ferry, located in Warrington, each has a generating capacity of approximately 2,000 megawatts. "This purchase is very positive for both the shareholders of Edison International and electricity consumers in the United Kingdom, who will benefit from increased competition in the electricity marketplace. We are pleased that the U.K.'s Secretary of State for Trade and Industry has approved the transaction, recognising the positive benefits it will create for all the parties involved," said John E. Bryson, chairman and chief executive officer of Edison International. "Our customers in the wholesale market will benefit from our increased ability to provide contracts that represent the closest possible match with their demand patterns," said S. Linn Williams, division president of Edison Mission Energy, Europe, Central Asia, Middle East & Africa. "The addition of these assets strengthens our position in the U.K. market and provides us increased flexibility," Williams said. "We expect these plants to be excellent performers from both economic and environmental perspectives," said Edward R. Muller, president and chief executive officer of Edison Mission Energy. In conjunction with the acquisition, Edison Mission Energy plans to invest 200 million pounds Sterling (US$325 million) to upgrade the plants' pollution controls, adding new low NOx burners and flue gas desulphurisation units. Edison International is a world leader in energy production, distribution, research and technology, capital financing and the marketing of consumer products and services. Headquartered in Rosemead, California, Edison International is the parent company of Southern California Edison, Edison Mission Energy, Edison Enterprises and Edison Capital. Edison Mission Energy specialises in the development, acquisition, construction management and operation of global power production facilities. As one of the world's leading global power producers, Edison Mission Energy's investments include 65 projects currently operating or under construction in Australia, Indonesia, Italy, New Zealand, Spain, Thailand, Turkey, the United Kingdom and the United States. In total, these projects represent approximately 19,400 megawatts of generating capacity. In addition, Edison Mission Energy is in the process of acquiring 9,621 megawatts of generating capacity in the Midwest region of the United States. ots Original Text Service: Edison Mission Energy Internet: http://www.newsaktuell.de Contact: United Kingdom: S. Linn Williams of Edison Mission Energy, 0171-312- 4000, fax: 0171-312-4044; or Anthony Cardew or Peter Gaze, both of Cardew & Co., for Edison Mission Energy, 0171-930-0777; or United States: Randall D. Oliver of Edison Mission Energy, 949- 798-7840, fax: 949-225-7740
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