CenterPoint May Recoup $21M After Appeal Victory

Law360, New York (May 7, 2008, 12:00 AM EDT) -- A Minnesota appellate court's ruling Tuesday could allow a CenterPoint Energy Inc. subsidiary to collect roughly $21 million in gas acquisition costs that state regulators barred the utility from recovering.

The state Public Utility Commission was “arbitrary and capricious” in denying CenterPoint's request to collect $28 million in costs incurred over five years and limiting it to collecting the $7 million it lost in the prior year, according to a three-judge panel of the Minnesota Court of Appeals.

“The commission failed to faithfully apply its applicable...
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.