Energy Co. Seeks To Cancel Contracts With Bankrupt PG&E
Law360 (February 20, 2019, 10:03 PM EST) -- A renewable energy provider has asked a California bankruptcy court for permission to terminate its contracts with Pacific Gas and Electric Co., saying its agreements to provide the utility with future power is a commodity contract exempt from the bankruptcy stay.
In a motion filed Tuesday, Enel Green Power North America sought to terminate a trio of 2017 contracts to build energy storage facilities that will, when, finished provide energy capacity to PG&E for between 10 and 20 years.
The nation's largest utility and its parent company filed for Chapter 11 in January, pointing to the fallout from Northern California's "catastrophic and...
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