Edison to Have $1 Billion Writedown Amid Coal Plant Shutdowns
Edison International (EIX), 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.
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