Exelon Generation Completes Acquisition of Southeast Chicago Power Plant
Posted on: Thursday, 1 June 2006, 12:00 CDT
CHICAGO, June 1 /PRNewswire-FirstCall/ -- Exelon Generation Company, LLC today announced it has completed the acquisition of Southeast Chicago Energy Project. Exelon announced in March its intention to purchase Peoples Energy's interest in the plant.
Southeast Chicago Energy Project is a 350-megawatt natural gas-fired, peaking electric power plant located on Chicago's southeast side. The plant began operation as a joint venture between Exelon Generation and Peoples Calumet, LLC in the summer of 2002 with Exelon controlling 100 percent of the output of the facility.
Since the facility came on-line, Exelon has owned and controlled the output, while Peoples supplied fuel to the plant. Exelon, along with an affiliate, now owns the facility outright, and will continue to control 100 percent of the plant's output. Peoples Energy remains as fuel supplier to the plant through a fuel purchase agreement.
The Federal Energy Regulatory Commission issued an order approving the sale on May 15, 2006.
Exelon Generation LLC is a subsidiary of Exelon Corporation , one of the nation's largest electric utilities with approximately 5.2 million customers and more than $15 billion in annual revenues. The company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.2 million customers in Illinois and Pennsylvania and natural gas to more than 470,000 customers in southeastern Pennsylvania. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.
Exelon Generation Company, LLC
CONTACT: Ben Armstrong of Exelon Generation, +1-610-765-6914
Web site: http://www.exeloncorp.com/
Source: PRNewswire-FirstCall
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