Occidental Can't Challenge Rival's Rate Power, DC Circ. Says

Law360, New York (March 27, 2012, 5:11 PM EDT) -- The D.C. Circuit said Tuesday that Occidental Petroleum Corp. can't challenge a federal regulator's decision to give proposed electricity grid-linking project Tres Amigas control over certain rates, because there's no imminent danger to Occidental's business.

The court ruled that Occidental and its subsidiaries lack standing to oppose a negotiated rate authority given to New Mexico-based Tres Amigas by the Federal Energy Regulatory Commission because the petition was based solely on "conjectural or hypothetical" injuries, according to an opinion filed by U.S. District Judge Janice Rogers Brown....
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.