Southern California Edison's (SCE) proposal to sell its interest in the Four Corners Generating Station, a coal-fired plant in New Mexico, has won approval from the California Public Utilities Commission (CPUC), which ends involvement by regulated utilities in the state with coal-fired power.

SCE had until 2016 to pull out of the Four Corners plant.

"With today's decision, we close a chapter in California for our regulated utilities and their ownership interest in coal-fired generation facilities," CPUC President Michael R. Peevey said. "Senate Bill 1368 mandated greenhouse gas emissions performance standards, and SCE is furthering those objectives by divesting its ownership share in Four Corners.

"SCE ratepayers will be the beneficiaries of the gains on the sale of this asset, and all Californians will benefit as the state takes one more step closer to reduced greenhouse gases and a cleaner environment."

SCE owns a 48 percent share in Four Corners Generating Station Units 4 and 5, operated by the Arizona Public Service Company (APS).