The commission's power grab over bankruptcy courts condemns merchants to a corporate netherworld.
Since we last visited the conflict between the Federal Energy Regulatory Commission (FERC) and bankruptcy courts over who decides whether a debtor can terminate unprofitable power contracts,1 a new district court decision out of Texas has come down tilting the field in favor of FERC's assertion of exclusive authority.
Fortnightly Magazine - May 2004
Business & Money
A spate of proposed U.S. tax rule changes soon may open a window of opportunity for certain utilities.
In the mid-1990s, before the rise of the Internet and the fall of Enron changed the calculus of business investing and the regulatory landscape, the historically staid U.S. utility industry began to be viewed as a "growth play." This triggered a global buying spree that led U.S. companies to invest tens of billions of dollars in electricity generation and distribution businesses all over the world.