SoCal Edison Sells Last Power Plant

Southern California Edison said it received $43 million for its Ormond Beach generating station in Oxnard, the last of the 12 gas-fired power plants that Edison was ordered to sell as part of the restructuring of the state’s electricity industry. The sale to Houston Industries Power Generation of Houston is scheduled to close June 1. The Oxnard plant is the fifth Edison power plant purchased by Houston Industries since November. In all, Rosemead-based Edison has received $1.19 billion for the 12 plants, a premium over book value of $569 million.