FERC Nixes JPMorgan Suit Over $3.7M In Energy Payments

Law360, New York (December 5, 2012, 7:53 PM EST) -- The Federal Energy Regulatory Commission held Wednesday that a JPMorgan Chase & Co. energy unit's complaint against the California Independent System Operator seeking $3.7 million in energy payments was premature, saying the relevant settlement process has not been exhausted.

A three-commissioner panel dismissed without prejudice J.P. Morgan Ventures Energy Corp.'s complaint, which accused CAISO of violating its tariff by underpaying for energy generated under “exceptional dispatch” instructions between April and June.

But the tariff allows for up to 15 months after the trading day to resolve...
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