In a closely watched battle between FirstEnergy Solutions (“FirstEnergy”) and the Ohio Valley Energy Corporation (“OVEC”) that could have significant implications for the U.S. power sector, the U.S. Bankruptcy Court for the Northern District of Ohio asserted its primacy over the Federal Energy Regulatory Commission (“FERC”) in deciding whether to allow FirstEnergy to repudiate certain FERC-regulated power purchase agreements (“PPAs”).
USA, Ohio, Employment & Labor, Energy & Natural Resources, Insolvency & Restructuring, Litigation, K&L Gates LLP, Electricity generation, Unsecured creditor, Power purchase agreement, FERC, FirstEnergy, Federal Power Act 1920 (USA)
Two’s company when it comes to debt funding. Surely, three makes things a little crowded? It doesn’t have to be that way.