PG&E seeks rehearing of a Jan. 25 Federal Energy Regulatory Commission order asserting “concurrent jurisdiction” with the bankruptcy court over wholesale power contracts that may be rejected while the company is in Chapter 11.
The decision arose from a NextEra challenge to PG&E.
“PG&E believes strongly that the Bankruptcy Court is the exclusive forum to resolve a legal question, such as this,” the company said in a filing.
FERC said PG&E must obtain approval from both the agency and the bankruptcy court to “modify the filed rate and reject the contract, respectively.”
©2019 Bloomberg L.P. All rights reserved. Used with ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.