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New York, NY – April 12, 2010 — Boston Generating LLC (“BostonGen”), a wholly-owned, indirect subsidiary of USPower Generating Company (“USPowerGen”) today announced that its Board of Managers has approved the initiation of a strategic sale process as part of its continued effort to restructure BostonGen. BostonGen has retained J.P. Morgan Securities Inc. (“J.P. Morgan”) to act as its financial advisor in connection with the auction process.
[More...]US Power Generating Company ("USPowerGen") owns and operates eight power generation facilities with a total capacity of over 5,000 Megawatts (MW). USPowerGen subsidiaries sell their energy and capacity into the NYISO and ISO-New England deregulated markets. The combined company represents generation sufficient to serve approximately 20% of the overall load in New York City as well as approximately 50% of the overall load in the Boston metropolitan area.
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