Texas High Court Ruling Allows Power Co. To Recoup $900M

Law360, New York (June 13, 2011, 7:38 PM EDT) -- The Texas Supreme Court denied three rehearing motions Friday in a dispute over recovery costs stemming from a 1999 state deregulation law, clearing the way for CenterPoint Energy Inc. to pursue $900 million in so-called stranded costs before the Public Utility Commission of Texas.

The court turned down motions from the PUC, the state of Texas and a group of petitioners including the city of Houston. It had issued a decision in March determining that the PUC should have used a different method to calculate the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.