Law360 (February 19, 2021, 8:01 PM EST) -- A divided D.C. Circuit on Friday backed the Federal Energy Regulatory Commission's decision to slash incentives from units of transmission company ITC Holdings Inc. following a 2016 merger, rejecting arguments that FERC unlawfully performed a policy about-face.
The ITC units — International Transmission Co., Michigan Electric Transmission Co. LLC and ITC Midwest LLC — argued FERC had no legal basis to conclude that incentives they received needed to be halved because they had a reduced level of independence after ITC Holdings' merger with utility Fortis Inc., which also owns electricity generation facilities.
But a D.C. Circuit panel said in a 2-1...
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