Boston Generating operating loss shrinks to $299,000 in March

By Caroline Salls

Pittsburgh, April 26 - Boston Generating LLC reported a $299,000 operating loss for March, compared with a $304,000 operating loss posted for February, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York.

The net income for March was $52.45 million, improving from a $2.01 million February net loss.

According to the filing, the March net income included a $54.62 million income tax benefit.

The company had $91.12 million in cash and cash equivalents at March 31, down from $93.83 million at the end of February.

Boston Generating, a Charlestown, Mass., power company, filed for bankruptcy on Aug. 18, 2010. The Chapter 11 case number is 10-14419.

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