April 18, 1996
Edison Mission Energy said Wednesday that it has completed the $70-million sale of its 50% stake in four geothermal facilities to CalEnergy Co. Inc. of Omaha. Under terms of the agreement, CalEnergy purchased the Vulcan, Hoch, Leathers and Elmore power plants in the Imperial Valley. Geothermal plants use hot water taken from the ground to produce steam, which is forced through turbines to produce energy.
April 3, 2001 |
Edison Mission Energy, the power plant development arm of cash-strapped Edison International Inc., sold $600 million worth of debt securities Monday, overcoming substantial concerns about its exposure to the troubled California utility market. Investors viewed Edison Mission, based in Irvine, as sufficiently removed from the fray to buy the notes, which mature in 10 years. But the company paid for the funding: The yield is 9.88%.
December 12, 2000
Edison Mission Energy, the Irvine development, construction and management arm of Edison International, said Monday it started construction on a power plant last week after getting expedited approval from the California Energy Commission. The power generation facility will be in Kern County and bring both short- and long-term generation capacity to the state, which has been in a crisis from heavy demand and shortage of power. The Sunrise Power Project will be completed in two phases.
December 6, 2000 |
Edison International said Tuesday that its Edison Mission Energy Global Management Inc. unit in Irvine has scheduled a special shareholder meeting for Dec. 15 to vote on a plan of dissolution and liquidation. Upon shareholder approval, holders of the 1,200 shares of preferred stock will receive an additional liquidation premium of $3,875 a share and accrued dividends to and including Dec. 20.
January 31, 1996
Edison Mission Energy Co. said Tuesday it has increased its stake in an Indonesian power project to 40% from 32.5%. The additional interest in the Paiton Power Project in east Java was acquired from General Electric Capital Corp. The project, which is now under construction, was developed and is owned by an international consortium of Edison Mission Energy, Mitsui & Co. Ltd. of Japan, P.T. Batu Hitam Perkasa, an Indonesian coal supplier, and General Electric Capital.
CALIFORNIA | LOCAL
February 23, 1991 |
Services were conducted Thursday for Edward Allan Myers Jr., a former vice president of Southern California Edison Co. and a 16-year resident of Orange County, who died Sunday after suffering a heart attack. He was 67. Myers, who was born in San Francisco in 1923, developed marketing and conservation programs for the utility and later formed and headed a subsidiary, Mission Energy Co. He retired in 1988.
April 4, 1996 |
As the Democratic head of an agency that was high on the Republican hit list, Commerce Secretary Ronald H. Brown disarmed many potential critics by becoming the leading overseas salesman for American business. Although his globe-trotting style had a large element of showmanship and the specific accomplishments of his trade missions may have been overhyped, observers say Brown should be credited with putting American business interests near the top of the list of U.S. foreign policy objectives.
CALIFORNIA | LOCAL
January 1, 1989 |
California is about to play host to the Super Bowl of utility mergers as Southern California Edison seeks to acquire San Diego Gas & Electric in a whopping $2.4-billion deal that will lead to the formation of the nation's largest electric utility. There will be a yearlong series of hearings before the California Public Utilities Commission and other government agencies that have the job of refereeing this contest. The stakes are enormous for electric utility customers in Southern California.