Irvine-based Edison Mission Energy announced it will acquire Citizens Power, the power-marketing subsidiary of the Peabody Group. Financial terms of the deal were not disclosed. The deal is expected to be completed this summer, pending approval from the Federal Energy Regulatory Commission.
Following the acquisition, Citizens Power will focus its efforts on optimizing the commercial value of Edison Mission energy’s portfolio of U.S. generating facilities. About 57% of Edison Mission’s electric generating capacity of 23,000 megawatts is in the United States.
Edison Mission is the unregulated subsidiary of Rosemead-based Edison International, which is also the parent of Southern California Edison.
