FERC accepts Enron settlement valued at 1.5 billion
The settlement allows unsecured claims of $875 million and imposes a $600 million civil penalty in favor of California, Oregon and Washington, and provides cash or cash equivalents of about $47.4 million.
FERC added that negotiations with other parties are continuing in an attempt to reach agreements with Houston-based Enron and the agency's staff involving market manipulation and overcharges during the 2000-2001 energy crisis.
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Court reinstates constitutional challenge to Ontario's hefty ‘global adjustment’ electricity charge
TORONTO - Ontario’s court of appeal has decided that a constitutional challenge of a steep provincial electricity charge should get its day in court, overturning a lower-court judgment that had dismissed the legal bid.
Hamilton, Ont.-based National Steel Car Ltd. launched the challenge in 2017, saying Ontario’s so-called global adjustment charge was unconstitutional because it is a tax — not a valid regulatory charge — that was not passed by the legislature.
The global adjustment funds the difference between the province’s hourly electricity price and the price guaranteed under contracts to power generators. It is “the component that covers the cost of…
