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Southern California Edison off loads gas plant
1 January 1998
Southern California Edison (SCE) announced in late November that it has auctioned off ten of its 12 gas fired power plants -- with a combined capacity of 7532 MW -- for more than $1.1 billion. SCE, the second largest private utility in the US, said the sales would be completed by January 1 and that it intends to sell the remaining two power plants. The utility, which serves 11 million people in a 50,000 square mile market, says the sales prices were affected by factors including the likely electricity rates in a deregulated market and the environmental impacts of such fossil fuel plants. All utilities in California were required to sell half of their non nuclear plants by a law passed as part of the state deregulation package.
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