Contract killing

The California Public Utilities Commission wants to renegotiate long-term contractsthe Department of Water Resources entered into during the state’s energycrisis. So far, Ferc has been less than receptive to the request. By Paul Lyon

The US Federal Energy Regulatory Commission (Ferc) is to issue a set of marketbehaviour rules it says will “help prevent market abuse, provide a morestable market-place and create an environment that will attract needed investmentcapital”. Ferc also says the rules are intended to alert sellers to varioustypes of prohibited behaviour, and that they “contain the breadth and flexibilityto address new and unanticipated activities as they may arise.”

It’s about time, market participants agree

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