AES Rips Utility For Protesting $240M Power Plant Sale

Law360, Wilmington (May 15, 2012, 7:24 PM EDT) -- Bankrupt AES Eastern Energy LP accused a New York utility on Monday of improperly taking a contract dispute with the company to regulators weighing approval of the $240 million sale of AES' two operating power plants.

In April, a Delaware bankruptcy judge cleared the sale of the upstate New York power plants to AES bondholders, pending approval from the Federal Energy Regulatory Commission. But the utility, New York State Electric & Gas Corp., has asked FERC to condition its approval on the debtors honoring a contract...
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