Exhibit 99.1

Edison Mission Energy
Homer CityFunds Flow from Operations
Twelve Months Ended June 30, 2003
(In Millions) (Unaudited)

|                                                        |                                        | EME
Homer City
Generation
L.P. |     | Edison
Mission
Finance
Co. |      | Mission
Energy
Westside,
Inc. |    | Chestnut
Ridge
Energy
Co. |   | Homer City
Property
Holdings |   | Edison
Mission
Holdings
Co. |   | Reclassification
Adjustments
(Note 1) |   | Edison
Mission
Holdings
Co. |   | Sale Leaseback
Adjustments
(Note 2) |   | Homer City
Facilities |  
|------------------------------------------------------- | -------------------------------------- | ------------------------------ | --- | -------------------------- | ---- | ----------------------------- | -- | ------------------------- | - | ---------------------------- | - | --------------------------- | - | ------------------------------------- | - | --------------------------- | - | ----------------------------------- | - | --------------------- | -
|
|Project Revenues                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|                                                        | Electric revenues                      |                                | $   | 474                        |      | $                             |   |                           | $ |                             |   | $                           |  |                                       | $ |                            |   | $                                   |  |                       | $
|                                                        | Loss from price risk management        |                                |     | (4                         | )    |                               |   |                           |   |                             |   |                             |  |                                       |   |                            |   |                                     |  |                       |  
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|                                                        |                                        | Total operating revenues       |     |                            | 470  |                               |    |                          |   |                              |  |                             |   |                                      |   |                             |  |                                     |   |                      |  
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Project Operating Expenses                              |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|                                                        | Fuel                                   |                                |     | 176                        |      |                               |   |                           |   |                             |   |                             |  |                                       |   |                            |   |                                     |  |                       |  
|                                                        | Plant operations                       |                                |     | 83                         |      |                               |   |                           |   |                             |   |                             |  |                                       |   |                            |   |                                     |  |                       |  
|                                                        | Depreciation and amortization          |                                |     | 62                         |      |                               |   |                           |   |                             |   |                             |  |                                       |   |                            |   |                                     |  |                       |  
|                                                        | Administrative and general             |                                |     | 3                          |      |                               |   |                           |   |                             |   |                             |  |                                       |   |                            |   |                                     |  |                       |  
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|                                                        |                                        | Total operating expenses       |     |                            | 324  |                               |    |                          |   |                              |  |                             |   |                                      |   |                             |  |                                     |   |                      |  
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Project Revenues less Operating Expenses                |                                        |                                | 146 |                            |      |                              |    |                           |  |                              |   |                            |   |                                       |  |                             |   |                                    |   |                       | 3
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Project Other Income (Expense)                          |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|                                                        | Interest and other income              |                                |     | 2                          |      |                               |   |                           |   |                             |   |                             |  |                                       |   |                            |   |                                     |  |                       |  
|                                                        | Intercompany interest income (expense) |                                |     | (46                        | )    |                               | 46 |                           |   |                             |   |                             |  |                                       |   |                            |   |                                     |  |                       |  
|                                                        | Interest expense                       |                                |     | (117                       | )    |                               |   |                           |   |                             |   |                             |  |                                       |   |                            |   |                                     |  |                       |  
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|                                                        |                                        | Total other income (expense)   |     |                            | (161 | )                             |    | 46                        |   |                              |  |                             |   |                                      |   |                             |  |                                     |   |                      |  
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Income (Loss) before Income Taxes and Cumulative Effect |                                        |                                | (15 | )                          |      | 46                            |    |                           |  |                              |   |                            |   |                                       |  |                             |   |                                    |   |                       | 3
|Income Taxes                                            |                                        |                                | (5  | )                          |      | 18                            |    |                           |  |                              |   |                            |   |                                       |  |                             |   |                                    |   |                       | 1
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Income (Loss) before Cumulative Effect                  |                                        |                                | (10 | )                          |      | 28                            |    |                           |  |                              |   |                            |   |                                       |  |                             |   |                                    |   |                       | 2
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Cumulative effect of change in accounting, net of tax   |                                        |                                | (1  | )                          |      |                              |    |                           |  |                              |   |                            |   |                                       |  |                             |   |                                    |   |                       | 1
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Net Income (Loss)                                       |                                        | $                              | (11 | )                          | $    | 28                            |    | $                         |  |                              | $ |                            |   | $                                     |  |                             | $ |                                    |   | $                     | 3
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Funds Flow from Operations                              |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Income (loss) before Income Taxes and Cumulative Effect |                                        | $                              | (15 | )                          | $    | 46                            |    | $                         |  |                              | $ |                            |   | $                                     |  |                             | $ |                                    |   | $                     | 3
|Add (deduct):                                           |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|                                                        | Depreciation and amortization          |                                |     | 62                         |      |                               |   |                           |   |                             |   |                             |  |                                       |   |                            |   |                                     |  |                       |  
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  
|Funds Flow from Operations                              |                                        | $                              | 47  |                            | $    | 46                            |    | $                         |  |                              | $ |                            |   | $                                     |  |                             | $ |                                    |   | $                     | 3
|                                                        |                                        |                                |     |                            |      |                               |    |                           |   |                              |   |                             |   |                                       |   |                             |   |                                     |   |                       |  

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|Note 1                                                                                                                                                                                                                                                                                                                                                                                                                |  | Includes: (a) reclassification adjustment related to presentation of operations expenses with no impact on income before taxes, (b) push down of parent G&A for SEC reporting, (c) reclassification of
cumulative effect of change in accounting for purposes of Funds Flow from Operations.
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Note 2                                                                                                                                                                                                                                                                                                                                                                                                                |  | Consolidation adjustment required to report the Homer City Leases as operating leases by Edison Mission Energy and Subsidiaries in lieu of lease financings recorded by EME Homer City Generation L.P.                                                                                      
|The above schedule is provided as supporting financial information to the Funds Flow from Operations set forth in Management's Discussion and Analysis of Financial Condition and Results of Operations. Homer City Facilities is not a legal entity and
accordingly, the above financial information for the Homer City Facilities has not been prepared in accordance with generally accepted accounting standards.

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