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Court Cuts Acadia Loose From Calpine Energy Contracts

Law360 (March 23, 2006, 12:00 AM EST) -- After an earlier plea from Acadia Power Partners LLC that bankrupt power generator Calpine Corp. was forcing it into a state of financial distress, a federal bankruptcy judge ruled Thursday that Acadia can cut its ties from Calpine and sell its energy to other utilities.

Judge Burton R. Lifland said Acadia, a joint venture between Louisiana utility Cleco Corp. and California-based Calpine, can fix its contracts with Calpine in order to sell its power to other firms.

Under the Calpine deal, Acadia was stuck selling all...
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