JPMorgan Unit Can’t Block Calif. Power Project, FERC Says

Law360, New York (January 7, 2013, 5:24 PM EST) -- A JPMorgan Chase & Co. unit’s contracts with a California power plant operator do not give it the right to veto a generator conversion project at the plant, the Federal Energy Regulatory Commission ruled Friday.

According to FERC, which granted a petition for a declaratory order filed by California electricity market overseer California Independent System Operator Corp., agreements between BE CA LLC — a subsidiary of JP Morgan Ventures Energy Corp. — and power plant operator AES Huntington Beach LLC do not give BE the right...
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