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HOUSTON, Oct. 14, 2003 -- Reliant Energy on Tuesday announced that it has retired from service two power-generating units totaling 264 megawatts at its Etiwanda power plant near Rancho Cucamonga, Calif.
These two units, which represent approximately seven percent of Reliant's generation capacity in California, have not operated since December 31, 2002, and are not included in the 824 MW of capacity that Reliant agreed to offer at auction as a part of its October 2, 2003, settlement with the Federal Energy Regulatory Commission (FERC).
These units are being retired because it is not economic to invest in the required environmental upgrades given current market conditions in California and uncertainty regarding future market conditions.
Prior to making the decision to retire Etiwanda units 1 and 2, Reliant requested proposals from prospective purchasers of the units' capacity at a price that would cover the cost to complete required environmental upgrades and the anticipated operating and maintenance costs of the units. No bids were received.
"Had bids been received at the minimum bid levels, our intention was to move forward with the upgrades," said Dan Hannon, West Region president.
As previously disclosed, Reliant Energy continues to evaluate, and may soon implement, mothballing or retiring additional power generation facilities in connection with its current review and evaluation of market conditions, long-term and short-term strategies.
Reliant Resources, Inc. (NYSE: RRI - News), based in Houston, Texas, provides electricity and energy services to retail and wholesale customers in the U.S. and Europe, marketing those services under the Reliant Energy brand name. For more information, visit www.reliantresources.com .
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