Edison Anticipates Power Grab
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Edison International’s Irvine-based, power plant building business, Edison Mission, says it expects to grow by purchasing competitors and their projects as falling profits thin out the industry.
And the thinning-out process, according to Edison Mission Chief Executive Edward Muller’s estimates, is likely to be bloody.
Muller figures that about 90% of the 300 companies now competing to build plants around the world will drop out over the next few years, leaving just 30 or so in the market.
“A lot of assets (will be) coming on the market because people have changed their minds,” Muller told a recent investment forum. “Acquisitions are in our future.”
Edison Mission owns or has investments in more than 50 power plants. A key market is Asia, where increasing demand for electricity far outpaces the 2% annual growth rate in the United States.
John O’Dell covers major Orange County corporations and manufacturing for The Times. He can be reached at (714) 966-5831 and at [email protected]
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