Midwest Gen Parent Files for Bankruptcy

The filing states that the California-based company has $5.1 billion in assets and $5 billion in liabilities, according to a Reuters story.

The parent company of the Midwest Generation coal-fired power plants in Joliet and Romeoville has filed for Chapter 11 bankruptcy protection, according to a Reuters news service story. Edison Mission Energy is trying to restructure a $5 billion debt load for the coal, natural gas and renewable power plants it owns in several states, including Illinois, the story said. The bankruptcy filing states that the company has $5.1 billion in assets and $5 billion in liabilities, the story said. Midwest Generation reported a $160 million operating loss in the first nine months of 2012, Crain's Chicago Business reported in November. In the same period last year, the company was reporting $91 million in operating income, the story said. The company …

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