Edison said Thursday it entered into an agreement with Princeton, New Jersey-based RG Energy Inc. to buy power from the company’s newly refurbished Long Beach plant in an effort to help meet demand next summer, Edison said.

NRG agreed to provide up to 260 megawatts from the natural gas fired Long Beach Generating Station under a 10-year contract. The station is adjacent to the Port of Long Beach and was retired in January 2005.

The plant will be reconfigured as a “peaker,” meaning it will only be used to quell power needs during maximum demand periods. The conversion is expected to be completed by Aug. 1.

Shares in Edison closed up 65 cents to $46.51 Thursday.