Debate On Long-Term Power Pacts Hits High Court

Law360, New York (February 19, 2008, 12:00 AM EST) -- Lawyers tussled Tuesday in front of the U.S. Supreme Court over how broad the Federal Energy Regulatory Commission's authority to reconsider long-term wholesale power contracts ought to be, and specifically whether the agency needs to re-examine certain contracts assigned at the height of California's 2000-01 energy crisis.

The setting for the discussion was the high court's oral argument for Morgan Stanley Capital Group Inc. v. Public Utility District No. 1 of Snohomish County et al., as well as a similar case brought by American Electric Power...
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