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FERC Lets Harbinger Up Investment In Energy Cos.

Law360 (November 7, 2008, 12:00 AM EST) -- The U.S. Federal Energy Regulatory Commission has decided to allow hedge fund Harbinger Capital Partners to increase its stake in several power companies, saying that although Harbinger already owns stock in power giant Calpine Corp. there would be no ill effects for competition.

FERC said on Thursday that it would allow Harbinger and some of its affiliates to take stakes in Entegra Power Group LLC, Mirant Corp. and Sunoco Power Generation. The commission has the authority to approve investment company ownership of utilities under the Federal...
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