Law360, New York (March 29, 2007, 12:00 AM ET) -- The Supreme Court’s “Mobile-Sierra doctrine,” as interpreted by the courts for decades, has long given parties with contracts subject to the Federal Energy Regulatory Commission’s (FERC or Commission) jurisdiction a relatively high degree of certainty that their contracts would not be subject to modification by FERC, absent a showing that the rate would “adversely affect the public interest.”
As understood by the courts and FERC, this public interest test would permit the undoing of a contract only in “extraordinary circumstances” beyond mere buyer’s or seller’s remorse....
Decisions Threaten Market-Based Rate Contracts
To view the full article, take a free trial now.
