JPMorgan Accused Of Blocking Crucial Calif. Power Project

Law360, New York (November 16, 2012, 5:25 PM EST) -- The California Independent System Operator on Friday asked federal regulators for permission to move forward with a power plant conversion project it says a JPMorgan Chase & Co. subsidiary is improperly blocking over an agreement with the plant operator.

California ISO claims in a filing with the Federal Energy Regulatory Commission that the project at two Huntington Beach Generation Station units is necessary to ensure Southern California has reliable electricity next summer. But according to the filing, power generator operator AES Corp. won’t take any action...
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