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Fortnightly Magazine - January 1 1997

supreme court, writing in the 1948 decision of City of Akron v. Ohio PUC, when it advised:

[F]reedom of contract and private dealings may be restricted by law for the good of the community. ... [A]ll contracts the subject matter of which involves the public welfare will have read into them ... as if expressed in clear, and definite terms, all public regulation then existing or thereafter to be enacted ...

If utilities succeed in winning recovery for losses in stranded assets, will we see the well-heeled corporate customers step up to the trough for relief from their stranded contracts?



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