Calpine Appeals To Get Out Of Energy Contracts

Law360 (February 2, 2006, 12:00 AM EST) -- Gearing up for a nasty fight with California’s attorney general, Calpine Corp. has challenged a federal judge’s rejection of the company’s request last week to cancel eight long-term electricity contracts.

The bankrupt power provider’s appeal motion seeks to reverse the judge’s decision that only the Federal Energy Regulatory Commission (FERC), and not the bankruptcy court, has authority to handle Calpine’s request.

Calpine’s reasoning is simple: If the request ends up in the hands of the commission, it will almost certainly be rejected.

The appeal is certain...
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