Exhibit 99.2

Edison Mission Energy
Illinois PlantsFunds Flow from Operations
Twelve Months Ended March 31, 2004
(In Millions) (Unaudited)

|                                                        |                                                         | Midwest
Generation LLC  |                              | Edison Mission
Overseas Co. |      | Edison Mission Midwest Holdings |   | Consolidation
Adjustments (Note 2) |     | Sale Leaseback
Adjustments (Note 1) |   | Edison
Mission
Midwest
Holdings |      | Sale Leaseback
Adjustments (Note 3) |      | Illinois
Plants |  
|------------------------------------------------------- | ------------------------------------------------------- | ----------------------- | ---------------------------- | --------------------------- | ---- | ------------------------------- | - | ---------------------------------- | --- | ----------------------------------- | - | ------------------------------- | ---- | ----------------------------------- | ---- | --------------- | -
|
|Project Revenues                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|                                                        | Electric revenues                                       |                         | $                            | 1,078                       |      | $                               | 0 |                                    | $   | 0                                   |   | $                               | 0    |                                     | $    | 0               |  
|                                                        | Income (loss) from price risk management                |                         |                              | (2                          | )    |                                 |  |                                    |     |                                    |   |                                 |     |                                     |      |                |  
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|                                                        |                                                         |                         | Total operating revenues     |                             |      | 1,076                           |   |                                    |    |                                     |   |                                |      |                                     |     |                 |  
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Project Operating Expenses                              |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|                                                        | Fuel                                                    |                         |                              | 390                         |      |                                 |  |                                    |     |                                    |   |                                 |     |                                     |      |                |  
|                                                        | Plant operations                                        |                         |                              | 323                         |      |                                 |  |                                    |     |                                    |   |                                 | 30   |                                     |      | (1              | )
|                                                        | Depreciation and amortization                           |                         |                              | 160                         |      |                                 | 0 |                                    |     |                                    |   |                                 | (12  | )                                   |      | 6               |  
|                                                        | Asset impairment and other charges                      |                         |                              | 1,025                       |      |                                 |  |                                    |     |                                    |   |                                 | (780 | )                                   |      |                |  
|                                                        | Settlement of postretirement employee benefit liability |                         |                              |                            |      |                                 |  |                                    |     |                                    |   |                                 |     |                                     |      |                |  
|                                                        | Administrative and general                              |                         |                              | 27                          |      |                                 | 1 |                                    |     | 8                                   |   |                                 | (1   | )                                   |      | (17             | )
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|                                                        |                                                         |                         | Total operating expenses     |                             |      | 1,925                           |   |                                    | 1   |                                     |   | 8                               |      |                                     | (763 | )               |  
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Project Revenues less Operating Expenses                |                                                         |                         | (849                         | )                           |      | (1                              | ) |                                    | (8  | )                                   |   | 763                             |      |                                     | 12   |                 |  
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Project Other Income (Expense)                          |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|                                                        | Interest and other income                               |                         |                              | (0                          | )    |                                 | 1 |                                    |     | 1                                   |   |                                 |     |                                     |      |                |  
|                                                        | Intercompany interest income (expense):                 |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|                                                        |                                                         | Edison Mission Energy   |                              |                             | 113  |                                 |   |                                   |     |                                     |  |                                 |      |                                    |      |                 | 
|                                                        |                                                         | Edison Mission Overseas |                              |                             | (218 | )                               |   | 218                                |     |                                     |  |                                 |      |                                    |      |                 | 
|                                                        | Interest expense                                        |                         |                              | (123                        | )    |                                 |  |                                    |     | (70                                 | ) |                                 | 37   |                                     |      | (1              | )
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|                                                        |                                                         |                         | Total other income (expense) |                             |      | (228                            | ) |                                    | 219 |                                     |   | (69                             | )    |                                     | 37   |                 |  
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Income (Loss) before Income Taxes and Cumulative Effect |                                                         |                         | (1,077                       | )                           |      | 218                             |   |                                    | (77 | )                                   |   | 800                             |      |                                     | 11   |                 |  
|Income taxes                                            |                                                         |                         | (418                         | )                           |      | 89                              |   |                                    | (32 | )                                   |   | 307                             |      |                                     | 4    |                 |  
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Income (Loss) before Cumulative Effect                  |                                                         |                         | (659                         | )                           |      | 129                             |   |                                    | (45 | )                                   |   | 493                             |      |                                     | 7    |                 |  
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Cumulative effect of change in accounting, net of tax   |                                                         |                         |                             |                             |      |                                |   |                                    |    |                                     |   |                                |      |                                     | (0   | )               |  
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Net Income (Loss)                                       |                                                         | $                       | (659                         | )                           | $    | 129                             |   | $                                  | (45 | )                                   | $ | 493                             |      | $                                   | 7    |                 | $
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Funds Flow from Operations                              |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Income (loss) before Income Taxes and Cumulative Effect |                                                         | $                       | (1,077                       | )                           | $    | 218                             |   | $                                  | (77 | )                                   | $ | 800                             |      | $                                   | 11   |                 | $
|Add (deduct):                                           |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|                                                        | Depreciation and amortization                           |                         |                              | 160                         |      |                                 | 0 |                                    |     |                                    |   |                                 | (12  | )                                   |      | 6               |  
|                                                        | Asset impairment charge                                 |                         |                              | 1,025                       |      |                                 |  |                                    |     |                                    |   |                                 | (780 | )                                   |      |                |  
|                                                        | Settlement of postretirement employee benefit liability |                         |                              |                            |      |                                 |  |                                    |     |                                    |   |                                 |     |                                     |      |                |  
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  
|Funds Flow from Operations                              |                                                         | $                       | 108                          |                             | $    | 218                             |   | $                                  | (77 | )                                   | $ | 8                               |      | $                                   | 17   |                 | $
|                                                        |                                                         |                         |                              |                             |      |                                 |   |                                    |     |                                     |   |                                 |      |                                     |      |                 |  

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Note 1Consolidation adjustment required to report the Collins leases
as operating leases by Edison Mission Midwest Holdings and subsidiaries in lieu of lease financings recorded by Midwest Generation, LLC.

Note 2Includes: (a) push down of parent G&A for SEC
reporting, (b) reclassification of cumulative effect of change in accounting for purposes of Funds Flow from Operations.

Note 3Consolidation adjustment required to report the
Powerton/Joliet leases as operating leases by Edison Mission Energy and subsidiaries in lieu of lease financings recorded by Midwest Generation, LLC.

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. Illinois Plants is not a legal entity and accordingly, the above financial information for the Illinois Plants
has not been prepared in accordance with generally accepted accounting standards.

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