1134016--3/1/2010--MIDWEST_GENERATION

related topics

{operation, natural, condition}

{cost, regulation, environmental}

{debt, indebtedness, cash}

{competitive, industry, competition}

{loss, insurance, financial}

{capital, credit, financial}

Midwest Generation is subject to extensive environmental regulation and permitting requirements that may involve significant and increasing costs. The controls imposed on the Midwest Generation plants as a result of the CPS may require material expenditures or unit shutdowns. Midwest Generation is subject to extensive energy industry regulation. Midwest Generation's operations are subject to market risks related to wholesale energy prices. Midwest Generation's financial results can be affected by changes in fuel prices, fuel transportation cost increases, and interruptions in fuel supply. Midwest Generation may not hedge market risks effectively. Competition could adversely affect Midwest Generation's business. The accounting for Midwest Generation's hedging activities may increase the volatility of its quarterly and annual financial results. Midwest Generation may not be able to raise capital on favorable terms, which could adversely affect its results of operation. Restrictions in the instruments binding on Midwest Generation and its subsidiaries may limit its and their ability to enter into specified transactions that it or they otherwise might enter into. Midwest Generation has a substantial amount of indebtedness, including long-term lease obligations and Midwest Generation's ability to meet its obligations under its long-term leases is dependent on payment of interest and principal on its notes receivable from EME. The Midwest Generation plants may be affected by general operating risks and hazards customary in the power generation industry. Midwest Generation may not have adequate insurance to cover all these hazards. The creditworthiness of Midwest Generation's customers, suppliers, transporters and other business partners could affect Midwest Generation's business and operations.

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1134016--3/1/2010--MIDWEST_GENERATION_LLC