FERC's Unclear Guidance On Horizontal Market Power

Law360, New York (April 10, 2013, 5:05 PM EDT) -- The Federal Energy Regulatory Commission recently declined to authorize under Section 203 of the Federal Power Act (FPA) a proposed transaction pursuant to which MACH Gen LLC would sell, and Saddle Mountain Power LLC would buy, all outstanding equity interests of New Harquahala Generating Company LLC.[1]

Since the proposed transaction, absent mitigation, failed FERC’s screens for horizontal market power by a wide margin, applicants proposed to transfer control over a generating plant owned by New Harquahala to Twin Eagle Resource Management LLC, an independent third party,...
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