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US company Mirant is reported to be pulling out of the European power market thr ...

US company Mirant is reported to be pulling out of the European power market through the closure of its Berlin office and the sale of all or a controlling interest in its current marketing and risk management operations. However, the company is understood to have affirmed its commitments to certain projects currently under development, including its 40% interest in a Norwegian consortium IMN which is to build an 800-MW combined heat and power plant in Norway; its 49% stake in Western Power Distribution which distributes electricity to 2.4mn customers in the UK; and a number of natural gas plants in Italy.

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