FERC Approves $85.7M Settlement Over Energy Crisis

Law360, New York (April 2, 2008, 12:00 AM EDT) -- Midway Sunset Cogeneration Co. has agreed to pay $85.7 million to settle claims arising from its involvement in a 2000-2001 energy crisis that drove up natural gas and electricity prices in the western United States.

The Federal Energy Regulatory Commission said Wednesday that it had approved the agreement between Midway Sunset and several utility companies and public agencies in the state of California, calling it “fair and reasonable and in the public interest.” The settlement includes interest accrued through June 30, 2007.

“This settlement brings us...
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