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Exhibit 10.92.1

AMENDMENT ONE

        AMENDMENT ONE (this "Amendment") dated as of November 14, 2001 by and
among EDISON MISSION ENERGY (the "Borrower"), CITICORP USA, INC., as
Administrative Agent (in such capacity, the "Administrative Agent") and each of
certain commercial lending institutions party hereto (the "Lenders").

        WHEREAS, the Borrower, the Administrative Agent and certain of the
Lenders entered into a Credit Agreement dated as of September 13, 2001 (the
"Credit Agreement");

        WHEREAS, the Borrower has requested that the Lenders adjust the
applicable fees for Letters of Credit, to reflect the original understanding
between the parties regarding the applicable fees.

        ACCORDINGLY, the parties hereto agree as follows:

        Section 1.    DEFINITIONS.    Except as otherwise defined in this
Amendment, terms defined in the Credit Agreement are used herein (and in the
introductions and recitals hereto) as defined therein.

        Section 2.    AMENDMENT TO THE CREDIT AGREEMENT.    Subject to the
satisfaction of the conditions precedent specified in Section 3 below, but
effective as of the Amendment Effective Date, the Credit Agreement shall be
amended by deleting Annex I and Annex II to the Credit. Agreement and by
replacing them in their entirety with Exhibit A and Exhibit B hereto.

        Section 3.    CONDITIONS PRECEDENT.    This Amendment shall not become
effective until the date (the "Amendment Effective Date") on which each of the
following conditions precedent have been satisfied or will be satisfied
contemporaneously with this Amendment becoming effective:

        (a)  Delivery to the Administrative Agent of this Amendment duly
executed and delivered by the Borrower, the Administrative Agent and each of the
Lenders;

        (b)  The representations and warranties of the Borrower as set forth in
the Credit Agreement shall be true and correct as of the Amendment Effective
Date after giving effect to the amendments contemplated hereby (unless stated to
be given as of an earlier date, in which case such representation and warranty
shall be true and correct only as of such earlier date and except as set forth
in the Borrower's Form 10-K for the fiscal year ended December 31, 2000 and the
Borrower's Form 10-Q for the third quarter of 2001); and

        (c)  As of the Amendment Effective Date, no Default shall have occurred
and be continuing after giving effect to this Amendment.

        Section 4.    MISCELLANEOUS.    Except as expressly amended hereby, all
of the terms and provisions of the Credit Agreement are and shall remain in full
force and effect. This Amendment may be executed in any number of counterparts,
all of which taken together shall constitute one and the same instrument and any
of the parties hereto may execute this Amendment by signing any such
counterpart. This Amendment shall be governed by, and construed in accordance
with, the law of the State of New York.

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        IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed and delivered by their respective officers thereunto duly authorized.

 
 
EDISON MISSION ENERGY
 
 
By:
/s/  KEVIN M. SMITH      

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Name:    Kevin M. Smith
Title:      Sr. V.P. and Chief Financial Officer
 
 
CITICORP USA, INC.,
    as Administrative Agent and Lender
 
 
By:
/s/  SANDIP SEN      

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Name:    Sandip Sen
Title:      Managing Director
 
 
CITIBANK, N.A.,
    as Issuing Lender
 
 
By:
/s/  SANDIP SEN      

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Name:    Sandip Sen
Title:      Managing Director
 
 
CREDIT SUISSE FIRST BOSTON,
    as Lender
 
 
By:
/s/  DAVID W. KRATOVIL      

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Name:    David W. Kratovil
Title:      Director
 
 
By:
/s/  ROBERT N. FINNEY      

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Name:    Robert N. Finney
Title:      Managing Director
 
 
SOCIETE GENERALE,
    as Lender
 
 
By:
/s/  DAVID BIRD      

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Name:    David Bird
Title:      Vice President
 
 
BANK OF MONTREAL
    as Lender
 
 
By:
/s/  CAHAL B. CARMODY      

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Name:    Cahal B. Carmody
Title:      Director    

S-1

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TORONTO DOMINION (TEXAS), INC.
    as Lender
 
 
By:
/s/  CAROL BRANDT      

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Name:    Carol Brandt
Title:      Vice President
 
 
WESTDEUTSCHE LANDESBANK
    GIROZENTRALE, New York Branch
    as Documentation Agent and as Lender
 
 
By:
/s/  JASJEET S. SOOD      

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Name:    Jasjeet S. Sood
Title:      Managing Director and Head
                  of Energy Group
 
 
By:
/s/  JARED BRENNER      

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Name:    Jared Brenner
Title:      Director
 
 
ABN AMRO BANK N.V.,
    as Lender
 
 
By:
/s/  JEFFREY DODD      

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Name:    Jeffrey Dodd
Title:      Group Vice President
 
 
By:
/s/  FRANK T. J. VAN DEUR      

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Name:    Frank T. J. Van Deur
Title:      Assistant Vice President
 
 
BARCLAYS BANK PLC,
    as Lender
 
 
By:
/s/  SYDNEY G. DENNIS      

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Name:    Sydney G. Dennis
Title:      Director
 
 
BANK OF AMERICA, N.A.
    as Lender
 
 
By:
/s/  TIMOTHY C. HINTZ      

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Name:    Timothy C. Hintz
Title:      Vice President

S-2

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AUSTRALIA AND NEW ZEALAND BANKING
    GROUP LIMITED,
    as Lender
 
 
By:
/s/  ROY J. MARSDEN      

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Name:    Roy J. Marsden
Title:      Executive Vice President/Americas
 
 
BANK OF NOVA SCOTIA,
    as Lender
 
 
By:
/s/  JOHN A. QUICK      

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Name:    John A. Quick
Title:      Managing Director
 
 
BAYERISCHE LANDESBANK
    GIROZENTRALE,
    as Lender
 
 
By:
/s/  DIETMAI RIEG      

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Name:    Dietmai Rieg
Title:      First Vice President
 
 
By:
/s/  CORNELIA WINTERGERST      

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Name:    Cornelia Wintergerst
Title:      Vice President
 
 
THE CHASE MANHATTAN BANK,
    as Lender
 
 
By:
/s/  THOMAS L. CASEY      

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Name:    Thomas L. Casey
Title:      Vice President
 
 
THE INDUSTRIAL BANK OF JAPAN, LIMITED,
    as Lender
 
 
By:
/s/  CARL-ERIC BENZINGER      

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Name:    Carl-Eric Benzinger
Title:      Senior Vice President & Senior Deputy
                  General Manager

S-3

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ING (U.S.) CAPITAL LLC,
    as Lender
 
 
By:
/s/  ERWIN THOMET      

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Name:    Erwin Thomet
Title:      Managing Director
 
 
By:
/s/  JANICE M. WHALEN      

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Name:    Janice M. Whalen
Title:      Vice President
 
 
KBC BANK, N.V.,
    as Lender
 
 
By:
/s/  JEAN-PIERRE DIELS      

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Name:    Jean-Pierre Diels
Title:      First Vice President
 
 
By:
/s/  ERIC RASKIN      

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Name:    Eric Raskin
Title:      Vice President
 
 
UNION BANK OF CALIFORNIA, N.A.,
    as Lender
 
 
By:
/s/  DENNIS G. BLANK      

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Name:    Dennis G. Blank
Title:      Vice President
 
 
UBS AG, Stamford Branch,
    as Lender
 
 
By:
/s/  PATRICIA O'KICKI      

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Name:    Patricia O'Kicki
Title:      Director, Banking Products Services
 
 
By:
/s/  LYNNE B. ALFARONE      

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Name:    Lynne B. Alfarone
Title:      Associate Director
                  Banking Products Services, US

S-4

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EXHIBIT A
ANNEX I

EDISON MISSION ENERGY
Tranche A Pricing Grid

BASIS FOR PRICING

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LEVEL 1

LT Senior Unsecured Debt Rated at Least BBB by S&P And Baa2 by Moody's.

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LEVEL 2

LT Senior Unsecured Debt Rated Less Than Level 1 But at Least BBB- by S&P And
Baa3 by Moody's.

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LEVEL 3

LT Senior Unsecured Debt Rated Less Than Level 2 But at Least BB+ by S&P And Ba1
by Moody's.

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LEVEL 4

LT Senior Unsecured Debt Rated Lower Than Level 3.

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Base Rate Applicable Margin   75.00 bps   137.50 bps   200.00 bps   262.50 bps
Facility Fee(1)   50.00 bps   62.50 bps   75.00 bps   87.50 bps LIBO Applicable
Margin   175.00 bps   237.50 bps   300.00 bps   362.50 bps Drawn Cost(2)   LIBOR
+    225.00 bps
Base Rate + 125.00 bps   LIBOR +    300.00 bps
Base Rate + 200.00 bps   LIBOR +    375.00 bps
Base Rate + 275.00 bps   LIBOR +    450.00 bps
Base Rate + 350.00 bps Financial Letter of Credit Fee   175.00 bps   237.50 bps
  300.00 bps   362.50 bps Performance Letter of Credit Fee   62.50 bps   87.50
bps   112.50 bps   137.50 bps

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(1)Paid quarterly in arrears on each bank's commitment irrespective of usage.

(2)Facility Fee plus Applicable Margin.

bps = basis points per annum

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EXHIBIT B
ANNEX II

EDISON MISSION ENERGY
Tranche B Pricing Grid

BASIS FOR PRICING

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LEVEL 1

LT Senior Unsecured Debt Rated at Least BBB by S&P And Baa2 by Moody's.

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LEVEL 2

LT Senior Unsecured Debt Rated Less Than Level 1 But at Least BBB- by S&P And
Baa3 by Moody's.

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LEVEL 3

LT Senior Unsecured Debt Rated Less Than Level 2 But at Least BB+ by S&P And Ba1
by Moody's.

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LEVEL 4

LT Senior Unsecured Debt Rated Lower Than Level 3.

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Base Rate Applicable Margin   62.50 bps   125.00 bps   187.50 bps   250.00 bps
Facility Fee(1)   62.50 bps   75.00 bps   87.50 bps   100.00 bps LIBO Applicable
Margin   162.50 bps   225.00 bps   287.50 bps   350.00 bps Drawn Cost(2)   LIBOR
+    225.00 bps
Base Rate + 125.00 bps   LIBOR +    300.00 bps
Base Rate + 200.00 bps   LIBOR +    375.00 bps
Base Rate + 275.00 bps   LIBOR +    450.00 bps
Base Rate + 350.00 bps Financial Letter of Credit Fee   162.50 bps   225.00 bps
  287.50 bps   350.00 bps Performance Letter of Credit Fee   50.00 bps   75.00
bps   100.00 bps   125.00 bps

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(1)Paid quarterly in arrears on each bank's commitment irrespective of usage.

(2)Facility Fee plus Applicable Margin.

bps = basis points per annum

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Exhibit 10.92.1