ADVFN - Advanced Financial Network.
HOME» NYSE » E » EE Stock Price » EE Stock News

El Paso Electric Share News

 El Paso Electric Company Stock Price
EE Stock Price
 El Paso Electric Company Stock Chart
EE Stock Chart
 El Paso Electric Company Stock News
EE Stock News
 El Paso Electric Company Company Information
EE Company Information
 El Paso Electric Company Stock Trades
EE Stock Trades

Edison International To Sell Its Share Of Four Corners Plant

DOW JONES NEWSWIRES Edison International (EIX) said Tuesday its utility plans to sell its share in the Four Corners coal-fired power plant in New Mexico to Pinnacle West Capital Corp. (PNW) unit Arizona Public Service Co. for $294 million. Edison will sell APS its 48% stake in Units 4 and 5 of the plant, subject to approval from federal and state regulators in Arizona and California, Edison spokesman Gil Alexander said. Edison had been planning to sell its stake in the plant to comply with a California law that requires utilities to phase out their coal-fired power purchases. The law prohibits California utilities from signing new contracts for coal-fired power or renewing existing contracts for coal-fired power. APS said it plans to shut down Units 1, 2 and 3 of the plant, which are older and less efficient, and install emission-control equipment on Units 4 and 5. APS, which operates the plant, owns 100% of the older units and co-owns Units 4 and 5 with Edison, PNM Resources Inc. (PNM), Salt River Project, El Paso Electric Co. (EE) and Tuscon Electric Power. The U.S. Environmental Protection Agency in October proposed that APS install equipment on the oldest three units of the plant to cut emissions of nitrogen oxides by 80%. Pollution from the 2,250-megawatt plant contributes to haze that obscures visibility in Mesa Verde and several other national parks and wilderness areas. The EPA estimated that the new equipment would cost about $717 million. But APS has estimated that the EPA's plan would cost $875 million, and is proposing an alternative that would cost about $95 million. Edison will purchase power from the market to replace the power it now receives from Four Corners, Alexander said. Shares of Edison were recently trading 9 cents lower at $37.47; shares of Pinnacle were trading 1 cent higher at $41.75. -By Cassandra Sweet, Dow Jones Newswires; 415-439-6468

Stock News for El Paso Electric (EE)
DateTimeHeadline
11/15/201309:01:37HBK Investments LP 3Q 13F: Largest Eliminations
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Purchases
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Sales
11/15/201309:01:27HBK Investments LP 3Q 13F: Largest Eliminations -2-
11/14/201307:21:23GAMCO Asset Management Inc. 3Q 13F: Holdings As Of Sep 30
11/14/201307:21:23GAMCO Asset Management Inc. 3Q 13F: Holdings As -2-
11/09/201013:50:22Edison International To Sell Its Share Of Four Corners Plant

El Paso Electric and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad