FERC Must Review Power Contracts: Supreme Court

Law360, New York (June 26, 2008, 12:00 AM EDT) -- Affirming an earlier decision by a federal appellate court, the U.S. Supreme Court has ordered the U.S. Federal Energy Regulatory Commission to re-evaluate its decision not to modify certain contracts assigned at the height of California's 2000-2001 energy crisis.

The 5-to-2 majority opinion, written by Justice Antonin Scalia, agreed with the U.S Court of Appeals for the Ninth Circuit that FERC had gone astray when it ruled that it could not adjust long-term private contracts between electricity wholesalers and utilities, but rejected much of the reasoning...
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