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Edison to Have $1 Billion Writedown Amid Coal Plant Shutdowns

Feb. 29 (Bloomberg) -- Edison International, owner of California’s second-biggest electric utility, will have a fourth-quarter writedown of $1.05 billion for its Homer City, Pennsylvania, power plant, three other coal plants and certain wind assets, the company said in a statement today. Edison said it was unable to secure third-party financing for pollution controls on the Homer City unit.

To contact the reporter on this story: Colin McClelland in Toronto at cmcclelland1@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net

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