NGI The Weekly Gas Market Report / NGI All News Access

ComEd to Sell 4,085 MW Of Fossil Generation

ComEd to Sell 4,085 MW Of Fossil Generation

ComEd announced it plans to sell the Collins generating station and the company's peaking units in conjunction with the sale of its coal-fired generation business. The company said it received a number of attractive proposals for all the power plants during the first phase of its coal plant auction. A "short list'" of qualified bidders on all the plants is being compiled for the next phase.

"We decided to move forward with selling Collins and the peakers as well as the coal plants because we received a substantial amount of interest from a variety of parties across the energy industry," said ComEd's Celia David, who is overseeing the sale. ComEd officials expect to reach agreements with potential buyers by the end of March. Completion of the sales will be subject to regulatory approvals but is expected by the end of 1999. Proceeds from the sales will be used in part to improve operations and restructure finances.

The Collins station, located in Morris, IL, has five units and generates 2,698 MW. It is capable of running on natural gas or oil. ComEd's peakers, which have a combined capacity of 1,396 MW, are fueled by gas and oil. They are located at nine sites: Chicago (three locations), Waukegan, Joliet, Lombard, Rockford, Eola and South Chicago Heights. The six Illinois coal-fired plants include: Crawford Station (542 MW, located in Chicago); Fisk Station (326 MW, Chicago); Waukegan Station (789 MW, Waukegan); Joliet Station (1,339 MW, Joliet); Will County Station (1,092 MW, Lockport); and Powerton Station (1,538 MW, Pekin).

©Copyright 1998 Intelligence Press, Inc. All rights reserved. The preceding news report may not be republished or redistributed in whole or in part without prior written consent of Intelligence Press, Inc.

ISSN © 2577-9877 | ISSN © 1532-1266
Comments powered by Disqus