FERC Nixes JPMorgan Challenge To Grid Operator Clawback

Law360, New York (June 6, 2013, 5:53 PM EDT) -- Denying a protest by a JPMorgan Chase & Co. energy unit, the Federal Energy Regulatory Commission on Wednesday granted a bid by California's grid operator for a revision its cost recovery program that would send $52 million in overpayments back to power producers.

California Independent System Operator Corp. petitioned FERC in June 2012 to approve its plan to resettle bid cost recovery payments between April 2009 and March 2011 in order to correct bid overpayments. The recovery process allows power generators governed by CAISO to recoup...
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