MMC Energy (MMCE) Executes Resource Adequacy Contracts for its California Plants
MMC Energy, Inc. (Nasdaq: MMCE) executed Resource Adequacy Contracts with an investment-grade power marketer to sell its Net Qualified Capacity from two of the three wholly owned power plants that MMC operates in the California Independent System Operator ("CAISO") control area.
The contracts are expected to provide MMC aggregate revenues equal to $1.74 million, net of direct selling costs, and completes MMC's forward sales of Net Qualified Capacity from its existing CAISO generation portfolio for 2009.
MMC retained the energy and ancillary services revenue components of these plants, which provide additional revenue streams.
MMC, based in New York and San Diego, acquires and actively manages electricity generating and energy infrastructure-related assets in the United States.[SM]
The contracts are expected to provide MMC aggregate revenues equal to $1.74 million, net of direct selling costs, and completes MMC's forward sales of Net Qualified Capacity from its existing CAISO generation portfolio for 2009.
MMC retained the energy and ancillary services revenue components of these plants, which provide additional revenue streams.
MMC, based in New York and San Diego, acquires and actively manages electricity generating and energy infrastructure-related assets in the United States.[SM]
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