On November 8, the Federal Energy Regulatory Commission (FERC) approved a major rate settlement on pipeline corrosion issues for the owners of the Trans Alaska Pipeline Systems (TAPS), based on a November 1994 agreement in principle among the parties. The settlement results from an alternate dispute resolution (ADR) technique that employed a mini-trial and involved high-level representatives for all parties. Under the settlement, which establishes a framework for continuing the cooperative program, TAPS will spend $23 million on corrosion remediation projects, and the Alaskan government's participation in the case will be terminated. The settlement is confidential until also approved by the Alaska Public Utilities Commission.
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