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Debtors Federal Energy Regulatory Commission

Vinson & Elkins LLP

In re Ultra Petroleum Corp. – Fifth Circuit: Debtors May Reject FERC-Approved Gas Transportation Agreements

Vinson & Elkins LLP on

In Federal Energy Regulatory Commission v. Ultra Resources, Inc. (In re Ultra Petroleum Corp.),1 a panel of the Fifth Circuit Court of Appeals (the “Fifth Circuit Panel”) provided valuable clarity regarding a 2004 decision in...more

Dechert LLP

Jurisdiction Over Rejection of Power Purchase Agreements—Confusion Continues

Dechert LLP on

Periods of volatility in energy prices cause spikes in energy companies’ bankruptcies. These bankruptcies lead to debtors’ attempts to reject power purchase agreements (“PPAs”). These attempts ignite the unresolved legal...more

Morgan Lewis

FERC Requires a Business to Pay Off a Related Business’s Debts Before Entering RTO Market

Morgan Lewis on

When a business entity that is regulated by the Federal Energy Regulatory Commission (FERC) is closely related to another business entity, FERC takes the position that under some circumstances it may treat the two different...more

Blank Rome LLP

In PG&E Bankruptcy, FERC Reasserts Concurrent Jurisdiction over the Disposition of Wholesale Power Contracts

Blank Rome LLP on

With the May 1 order, the Commission reaffirms its view that it has concurrent jurisdiction over debtors’ efforts to reject their FERC-jurisdictional contracts in bankruptcy. Further developments in judicial proceedings in...more

Holland & Knight LLP

FERC Asserts Its Authority to Review Rejection of Wholesale Power Agreements Days Before PG&E Files Bankruptcy

Holland & Knight LLP on

On Jan. 25, 2019 – just days before Pacific Gas and Electric (PG&E) proposes to file its bankruptcy case – the Federal Energy Regulatory Commission (FERC) issued an order asserting its concurrent authority to approve proposed...more

K&L Gates LLP

Distressed Solutions: Energy Bankruptcies and the Intersection of Contract Rejection and FERC

K&L Gates LLP on

We have seen an increase in energy companies filing for bankruptcy, and more may be on the horizon. This is a great time to review and discuss an interesting ruling in the FirstEnergy case regarding the intersection of...more

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