(United States Ninth Circuit) - In a petition for review brought by various entities challenging the Federal Energy Regulatory Commission (FERC)'s calculation of certain refunds arising out of the California energy crisis in 2000 and 2001, the petition is: 1) granted in portion where FERC acted arbitrarily or capriciously in allocating the refund only to net buyers and not to all market participants; and 2) denied in portion as to the question of whether refunds should be netted hourly or a cross the entire refund period where FERC did not act arbitrarily or capriciously in its construction of tariffs.
Source: findlaw.com