Mirant Secures Power Contract With PG&E
August 01 2006 - 9:00AM
PR Newswire (US)
ATLANTA, Aug. 1 /PRNewswire-FirstCall/ -- Mirant Corporation
(NYSE:MIR) announced today that it has signed two contracts with
Pacific Gas and Electric Company (PG&E) to provide electricity
from its natural gas-fired Pittsburg and Contra Costa power plants
located near San Francisco, California. PG&E has contracted for
approximately 2,000 megawatts of capacity for varying terms ranging
from one year up to about four years beginning in 2007. The
longer-term transaction will be submitted to the California Public
Utilities Commission (CPUC) for its review and approval. Mirant
intends to withdraw immediately the notice of intent to shut down
Pittsburg Unit 7 and Contra Costa Unit 6 that it had submitted to
the CPUC and the California Independent System Operator on May 4,
2006. With continuing strong growth in electric demand and the
possibility of additional heat waves, these contracts provide an
important reliable electric supply for California consumers. "We
are pleased that we were able to reach an agreement with PG&E
that will allow us to keep Pittsburg 7 and Contra Costa 6 available
to provide much needed and reliable power to the people of
California," said Robert M. Edgell, Mirant's executive vice
president and head of its United States business. Mirant is a
competitive energy company that produces and sells electricity in
the United States, the Caribbean, and the Philippines. Mirant owns
or leases approximately 17,300 megawatts of electric generating
capacity globally. The company operates an asset management and
energy marketing organization from its headquarters in Atlanta. For
more information, please visit http://www.mirant.com/. Stockholder
inquiries: 678 579 7777 DATASOURCE: Mirant CONTACT: Media, Corry
Leigh, +1-678-579-3111, or , or Investor Relations, Mary Ann Arico,
+1-678-579-7553, or , or Sarah Stashak, +1-678-579-6940, or , or
Stockholder inquiries, +1-678-579-7777, of Mirant Corporation Web
site: http://www.mirant.com/
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