Jamaica Public Service Company (JPS) is 80 per cent owned by Mirant Corp. JPS is among assets to be sold this year. - File

Mirant Corp said on Monday it was considering apossible sale and other moves to boost the power provider's value for shareholders.

The Atlanta-based energy company is currently selling its business in the Philippines, six United States natural gas-fired plants and its Caribbean operations.

The transactions are expected to close by the year's end.

Mirant said it is also considering returning excess cash from sale proceeds to stockholders, or signing a deal with another company, including a possible merger. The company does not expect to consider making an acquisition.

"We are commencing this exploration o in order to provide our stockholders with the greatest possible value," said Edward R. Muller, Mirant's chairman and chief executive officer.

J.P. Morgan is serving as Mirant's financial advisor.

Last month, the international energy company said it earned US$1.86 billion (?€1.39 billion), or US$6.28 per share, in 2006 on revenue of US$3.1 billion (?€2.32 billion).

Its shares rose US$3.44, or 8.5 per cent, to close at US$44.08 on the New York Stock Exchange on Monday after briefly rising earlier in the day to a 52-week high of US$45.99.

- AP