If Pacific Gas & Electric goes bankrupt, who gets final say over onwhether it can renegotiateits old and expensive solar power purchase agreements federal regulators or the bankruptcy court?
This multi-billion dollar question has come to the fore as PG&E, overwhelmed by tens of billions of dollars in potential wildfire liabilities, prepares to file for Chapter 11 bankruptcy protection as early as tomorrow.
Last week, PG&E solar provider NextEra asked the Federal Energy Regulatory Commission (FERC) to use its authority under the Federal Power Act (FPA) to order the utility not to abrogate, amend or reject in bankruptcy any of the rates, terms and conditions of its wholesale power purchase agreements, including hundreds of megawatts of…
Read the full article at: https://www.greentechmedia.com/articles/read/the-looming-bankruptcy-battle-over-pges-renewable-energy-contracts
