Edison Mission Energy (EME) has filed for relief under Chapter 11 of the United States Bankruptcy Code. The company has also agreed on a reorganization plan with its parent company and holders of its $3.7 billion in debt. As part of the plan, Edison Mission Energy will separate from Edison International (NYSE: EIX) and be considered by the parent company to be a discontinued operation.
Edison International is also the parent company of Southern California Edison. Edison Mission Energy told The Los Angeles Times that SCE and its customers weren’t affected by the filing.
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