NGI The Weekly Gas Market Report
ComEd announced it plans to sell the Collins generating stationand the company’s peaking units in conjunction with the sale of itscoal-fired generation business. The company said it received anumber of attractive proposals for all the power plants during thefirst phase of its coal plant auction. A “short list'” of qualifiedbidders on all the plants is being compiled for the next phase.
“We decided to move forward with selling Collins and the peakersas well as the coal plants because we received a substantial amountof interest from a variety of parties across the energy industry,”said ComEd’s Celia David, who is overseeing the sale. ComEdofficials expect to reach agreements with potential buyers by theend of March. Completion of the sales will be subject to regulatoryapprovals but is expected by the end of 1999. Proceeds from thesales will be used in part to improve operations and restructurefinances.
The Collins station, located in Morris, IL, has five units andgenerates 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, arefueled by gas and oil. They are located at nine sites: Chicago(three locations), Waukegan, Joliet, Lombard, Rockford, Eola andSouth Chicago Heights. The six Illinois coal-fired plants include:Crawford Station (542 MW, located in Chicago); Fisk Station (326MW, Chicago); Waukegan Station (789 MW, Waukegan); Joliet Station(1,339 MW, Joliet); Will County Station (1,092 MW, Lockport); andPowerton Station (1,538 MW, Pekin).
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