Exhibit 99.1

Edison Mission Energy
Homer CityFunds Flow from Operations
Twelve Months Ended March 31, 2004
(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                                       |  | $                              | 490  |                            | $ | 0                             |   | $                         | 0 |                              | $ | 0                           |   | $                                     | 0  |                             | $ | 0                                   |   | $                     | 0 
|Income (loss) from
    price risk
    management        |  |                                | 21   |                            |   |                              |   |                           |  |                              |   |                            |   |                                       |   |                             |   |                                    |   |                       |  
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Total operating
        revenues                        |  |                                | 511  |                            |   |                              |   |                           |  |                              |   |                            |   |                                       |   |                             |   |                                    |   |                       |  
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Project Operating Expenses                              |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Fuel                                                    |  |                                | 189  |                            |   |                              |   |                           |  |                              |   |                            |   |                                       |   |                             |   |                                    |   |                       |  
|Plant operations                                        |  |                                | 94   |                            |   |                              |   |                           |  |                              |   |                            |   |                                       |   |                             |   |                                    |   |                       |  
|Depreciation and
    amortization                       |  |                                | 63   |                            |   |                              |   |                           |  |                              |   |                            |   |                                       | 0  |                             |   |                                    |   |                       |  
|Administrative and
    general                          |  |                                | 4    |                            |   | 0                             |   |                           |  |                              |   |                            |   |                                       |   |                             |   |                                    |   |                       | (4
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Total operating
        expenses                        |  |                                | 350  |                            |   | 0                             |   |                           |  |                              |   |                            |   |                                       | 0  |                             |   |                                    |   |                       | (4
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Project Revenues less Operating Expenses                |  |                                | 161  |                            |   | (0                            | ) |                           |  |                              |   |                            |   |                                       | (0 | )                           |   |                                    |   |                       | 4 
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Project Other Income (Expense)                          |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Interest and other
    income                           |  |                                | 1    |                            |   |                              |   |                           | 0 |                              |   | (0                          | ) |                                       | 0  |                             |   |                                    |   |                       | 0 
|Intercompany
    interest income
    (expense)          |  |                                | (40  | )                          |   | 40                            |   |                           |  |                              |   |                            |   |                                       |   |                             |   |                                    |   |                       |  
|Interest expense                                        |  |                                | (114 | )                          |   |                              |   |                           |  |                              |   |                            |   |                                       |   |                             |   |                                    |   |                       |  
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Total other
        income
        (expense)            |  |                                | (153 | )                          |   | 40                            |   |                           | 0 |                              |   | (0                          | ) |                                       | 0  |                             |   |                                    |   |                       | 0 
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Income (Loss) before Income Taxes and Cumulative Effect |  |                                | 8    |                            |   | 40                            |   |                           | 0 |                              |   | (0                          | ) |                                       | 0  |                             |   |                                    |   |                       | 4 
|Income taxes                                            |  |                                | 7    |                            |   | 16                            |   |                           |  |                              |   | (0                          | ) |                                       | 0  |                             |   | (0                                  | ) |                       | 2 
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Income (Loss) before Cumulative Effect                  |  |                                | 1    |                            |   | 24                            |   |                           | 0 |                              |   | (0                          | ) |                                       | 0  |                             |   | 0                                   |   |                       | 2 
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Cumulative effect of change in accounting, net of tax   |  |                                |     |                            |   |                              |   |                           |  |                              |   |                            |   |                                       |   |                             |   |                                    |   |                       | (1
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Net Income (Loss)                                       |  | $                              | 1    |                            | $ | 24                            |   | $                         | 0 |                              | $ | (0                          | ) | $                                     | 0  |                             | $ | 0                                   |   | $                     | 1 
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Funds Flow from Operations                              |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Income (loss) before Income Taxes and Cumulative Effect |  | $                              | 8    |                            | $ | 40                            |   | $                         | 0 |                              | $ | (0                          | ) | $                                     | 0  |                             | $ | 0                                   |   | $                     | 4 
|Add (deduct):                                           |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Depreciation and amortization                           |  |                                | 63   |                            |   |                              |   |                           |  |                              |   |                            |   |                                       | 0  |                             |   |                                    |   |                       |  
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   
|Funds Flow from Operations                              |  | $                              | 71   |                            | $ | 40                            |   | $                         | 0 |                              | $ | (0                          | ) | $                                     | 0  |                             | $ | 0                                   |   | $                     | 4 
|                                                        |  |                                |      |                            |   |                               |   |                           |   |                              |   |                             |   |                                       |    |                             |   |                                     |   |                       |   

|      
|------
|Note 1
|Note 2
|      

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