Appeals Court Upholds Powerex Ruling

Law360, New York (July 13, 2007, 12:00 AM EDT) -- A California state appeals court has issued a ruling that bars the California attorney general from suing energy wholesaler Powerex for engaging in allegedly fraudulent energy trading schemes that came to light after the collapse of Enron Corp.

The appeals court agreed with a lower court ruling that the Federal Power Act gives the Federal Energy Regulatory Commission exclusive jurisdiction over the wholesale energy market. The Act, according to the ruling, effectively bars all of the attorney general's claims. In its decision, the appeals court citied...
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