NY Biz Group Seeks Direct $78M Payout From Constellation

Law360, New York (April 11, 2012, 5:31 PM ET) -- Major New York electricity consumers like industrial giant Alcoa Inc. and Cornell University said Tuesday that $78 million from Constellation Energy Commodities Group Inc.'s manipulative trading settlement should be paid directly to ratepayers, signaling a possible struggle over the money.

Their filing, before the New York Public Service Commission, came a week after Federal Energy Regulatory Commission Chairman Jon Wellinghoff — whose agency reached the settlement with Constellation and will decide where the money goes — encouraged Gov. Andrew Cuomo to apply to use the cash...
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