Utilities Set To Resolve Power Dispute With Enron

Law360, New York (June 14, 2006, 12:00 AM EDT) -- The Federal Energy Regulatory Commission (FERC) is close to ruling on a controversial settlement that would require two small utilities to pay bankrupt Enron Corp. more than $50 million for electricity the energy company does not plan to deliver.

Silicon Valley Power, based in Santa Clara, Calif., would pay Enron $36.5 million for power it agreed to purchase even though Enron never supplied the company with electricity. Valley Electric Association, a cooperative that serves a region of Las Vegas, would pay Enron $14 million. Both utilities...
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