NextEra Files Complaint At FERC To Prevent PG&E From Abrogating Wholesale PPAs In Bankruptcy
NextEra Energy, Inc. and NextEra Energy Partners, L.P. (collectively, “NextEra”) filed at FERC a petition for declaratory order, complaint and request for expedited action (“petition”) against Pacific Gas and Electric Company (“PG&E”), pursuant to sections 206 and 306 of the Federal Power Act (“FPA”), 16 U.S.C. §§ 824e, 825e, and Rules 206 and 207 of the Commission’s Rules of Practice and Procedure, 18 C.F.R. §§ 385.206, 385.207, in which NextEra asks the Commission to order that, if PG&E files a petition for bankruptcy, PG&E may not abrogate, amend or reject in bankruptcy any of the rates, terms and conditions of its wholesale power purchase agreements subject to this Commission’s jurisdiction (“Wholesale Contracts”) without first obtaining approval from FERC under FPA sections 205 or 206, 16 U.S.C. §§ 824d, 824e.