National Grid Can't Collect To Keep Plant Running, FERC Told

Law360, New York (April 29, 2013, 7:58 PM EDT) -- New York municipal utilities on Friday said they shouldn't be charged by National Grid to allow a mothballed coal-fired plant the company sold to NRG Energy Inc. for $355 million to continue running, saying National Grid hasn't shown that the costs are necessary in order to maintain grid reliability.

The Municipal Electric Utilities Association of New York urged the Federal Energy Regulatory Commission to reject National Grid's proposal to revise its transmission rate calculated by a previously approved formula in order to automatically recover costs it's...
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.