Exhibit 99.1

Edison Mission Energy
Homer CityFunds Flow from Operations
Twelve Months Ended September 30, 2002(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. |     | Consoldiated
Adjustments
(Note 1) |      | Edison
Mission
Holdings
Co. |     | Reclassification
Adjustments
(Note 1) |       | Sale Leaseback
Adjustments
(Note 2) |     | Homer City
Facilities |     
|--------------------------------------------------------------------- | ------------------------------------------------------------- | ------------------------------ | ----- | -------------------------- | ------ | ----------------------------- | --- | ------------------------- | ---- | ---------------------------- | --- | --------------------------- | --- | --------------------------------- | ---- | --------------------------- | --- | ------------------------------------- | ----- | ----------------------------------- | --- | --------------------- | ----
|
|Project Revenues                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|                                                                      | Electric revenues                                             |                                | $     | 390.3                      |        | $                             | 0.0 |                           | $    | 0.0                          |     | $                           | 0.0 |                                   | $    | 0.0                         |     | $                                     | 0.0   |                                     | $   | 0.0                   |     
|                                                                      | Income (losses) from energy trading and price risk management |                                |       | (0.5                       | )      |                               |    |                           |      |                             |     |                             |    |                                   |      |                            |     |                                       |      |                                     |     |                      |     
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|                                                                      |                                                               | Total Operating revenues       |       |                            | 389.8  |                               |     |                          |      |                              |    |                             |     |                                  |      |                             |    |                                       |       |                                    |     |                       |    
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Project Operating Expenses                                            |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|                                                                      | Fuel                                                          |                                |       | 145.0                      |        |                               |    |                           |      |                             |     |                             |    |                                   |      |                            |     |                                       |      |                                     |     |                      |     
|                                                                      | Plant operations                                              |                                |       | 91.9                       |        |                               |    |                           |      |                             |     |                             |    |                                   |      |                            |     |                                       |      |                                     |     |                      |     
|                                                                      | Depreciation and amortization                                 |                                |       | 61.2                       |        |                               |    |                           |      |                             |     |                             |    |                                   |      | 0.0                         |     |                                       |      |                                     |     |                      |     
|                                                                      | Administrative and general                                    |                                |       | 5.0                        |        |                               | 0.1 |                           |      |                             |     |                             |    |                                   |      |                            |     |                                       | 0.0   |                                     |     | (2.6                  | )   
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|                                                                      |                                                               | Total operating expenses       |       |                            | 303.1  |                               |     | 0.1                       |      |                              |    |                             |     |                                  |      |                             | 0.0 |                                       |       | 0.0                                 |     |                       | (2.6
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Project Revenues less Operating Expenses                              |                                                               |                                | 86.7  |                            |        | (0.1                          | )   |                           |     |                              |     |                            |     |                                   | (0.0 | )                           |     | (0.0                                  | )     |                                     | 2.6 |                       |     
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Project Other Income (Expense)                                        |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|                                                                      | Interest and other income                                     |                                |       | 3.4                        |        |                               |    |                           |      | 0.0                          |     |                             | 1.3 |                                   |      | 0.0                         |     |                                       |      |                                     |     |                      |     
|                                                                      | Intercompany interest income (expense):                       |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|                                                                      |                                                               | Edison Mission Holdings        |       |                            |       |                               |     | (15.0                     | )    |                              |    |                             |     |                                  |      |                             |    |                                       |       | 15.0                                |     |                       |    
|                                                                      |                                                               | Edison Mission Finance         |       |                            | (66.4  | )                             |     | 66.4                      |      |                              |    |                             |     |                                  |      |                             |    |                                       |       |                                    |     |                       |    
|                                                                      | Interest expense                                              |                                |       | (97.8                      | )      |                               |    |                           |      |                             |     |                             |    |                                   |      |                            |     |                                       | (15.0 | )                                   |     |                      |     
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|                                                                      |                                                               | Total other income (expense)   |       |                            | (160.8 | )                             |     | 51.4                      |      |                              | 0.0 |                             |     | 1.3                               |      |                             | 0.0 |                                       |       |                                    |     |                       |    
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Income (Loss) before Income Taxes and Extraordinary Item              |                                                               |                                | (74.1 | )                          |        | 51.3                          |     |                           | 0.0  |                              |     | 1.3                         |     |                                   | 0.0  |                             |     | (0.0                                  | )     |                                     | 2.6 |                       |     
|Income Taxes Before Extraordinary Item                                |                                                               |                                | (31.4 | )                          |        | 19.7                          |     |                           | (0.0 | )                            |     | (3.2                        | )   |                                   |     |                             |     | (0.0                                  | )     |                                     | 0.9 |                       |     
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Net Income (Loss) Before Extraordinary Item                           |                                                               |                                | (42.7 | )                          |        | 31.6                          |     |                           | 0.0  |                              |     | 4.5                         |     |                                   | 0.0  |                             |     | (0.0                                  | )     |                                     | 1.7 |                       |     
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Extraordinary gain (loss) on early extinguishment of debt, net of tax |                                                               |                                | 5.7   |                            |        |                              |     |                           |     |                              |     |                            |     |                                   |     |                             |     |                                      |       |                                     |    |                       |     
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Net Income (Loss)                                                     |                                                               | $                              | (37.0 | )                          | $      | 31.6                          |     | $                         | 0.0  |                              | $   | 4.5                         |     | $                                 | 0.0  |                             | $   | (0.0                                  | )     | $                                   | 1.7 |                       | $   
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Funds Flow from Operations                                            |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Income (loss) before Income Taxes                                     |                                                               | $                              | (74.1 | )                          | $      | 51.3                          |     | $                         | 0.0  |                              | $   | 1.3                         |     | $                                 | 0.0  |                             | $   | (0.0                                  | )     | $                                   | 2.6 |                       | $   
|Add (deduct):                                                         |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|                                                                      | Depreciation and amortization                                 |                                |       | 61.2                       |        |                               |    |                           |      |                             |     |                             |    |                                   |      | 0.0                         |     |                                       |      |                                     |     |                      |     
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     
|Funds Flow from Operations                                            |                                                               | $                              | (12.9 | )                          | $      | 51.3                          |     | $                         | 0.0  |                              | $   | 1.3                         |     | $                                 | 0.0  |                             | $   | (0.0                                  | )     | $                                   | 2.6 |                       | $   
|                                                                      |                                                               |                                |       |                            |        |                               |     |                           |      |                              |     |                             |     |                                   |      |                             |     |                                       |       |                                     |     |                       |     

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|Note 1 |  | Includes: (a) reclassification adjustment related to presentation of revenues and operations expenses with no impact on income before taxes, (b) reclassification of extraordinary gain to other income for purposes of Funds
Flow from Operations, and (c) push down of parent G&A for SEC reporting.
|------ |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|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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