Texas High Court Mulls Wind Energy Credit Penalties

Law360, Houston (October 15, 2012, 9:52 PM EDT) -- A predecessor of NextEra Energy Inc. told Texas’ highest court Monday it should not have to pay $29 million under a contract for renewable energy with an Energy Future Holdings Corp. unit, saying a lower appeals court had misinterpreted the agreement.

On behalf of the predecessor, FPL Energy LLC, attorney Nina Cortell argued that a liquidated damages provision in the agreement applied to underdelivery of renewable energy credits — not electricity — and that the Energy Future subsidiary, now known as Luminant Energy Co. LLC, had...
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