Executives in control of Edison International's Edison Mission Energy—its struggling wholesale-power unit that filed for bankruptcy in December—are still drafting an agreement that would transfer ownership of its more than 40 electricity-generating facilities to bondholders who extended $3.7 billion to the unit, Dow Jones Daily Bankruptcy Review reported today. Edison Mission attorneys said that their progress so far includes drafting a bonus plan for executives and all 47 senior managers to reward them for keeping operating costs down and minimizing unplanned outages at its power plants, according to court papers.
