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Morgan Stanley Capital Group Inc. v. Public Utility District No. 1 of Snohomish County, Washington

Docket No.: 06-1457
Certiorari Granted: Sep 25 2007
Argued: February 19, 2008
Decided: June 26, 2008
Consolidated with: CONSOLIDATED WITH 06-1462 FOR ONE HOUR ORAL ARGUMENT.

PartyNames: Morgan Stanley Capital Group Inc. v. Public Utility District No. 1 of Snohomish County, Washington, et al.
Petitioner: Morgan Stanley Capital Group Inc.
Respondent: Public Utility District No. 1 of Snohomish County, Washington, et al.

Court Below: United States Court of Appeals for the Ninth Circuit

Morgan Stanley Capital Group Inc.
v.
Public Utility District No. 1 of Snohomish County, Washington, et al.
Question Presented:

Whether the Ninth Circuit erred by failing to abide by this Court's decisions in United Gas Pipe Line Co. v. Mobile Gas Service Corp., 350 U.S. 332 (1956), and Federal Power Commission v. Sierra Pacific Power Co., 350 U.S. 348 (1956), which preclude the Federal Energy Regulatory Commission from retroactively undoing valid, bilaterally negotiated, arms-length wholesale energy contracts that have, at most, minimal impact on retail rates.

Question:

May the government permit utility companies to renegotiate long-term contracts with wholesale energy suppliers and, if so, what circumstances justify renegotiation?

Note:

THE MOTION OF GOLDEN STATE WATER COMPANY FOR DISQUALIFICATION

Holding: judgment is affirmed and reman
Vote: 5-2
Recused: Chief Justice Robert
Opinion By:
Read MORGAN STANLEY CAPITAL GROUP INC. V. PUBLIC UTILITY DISTRICT NO. 1 OF SNOHOMISH COUNTY, WASHINGTON opinion (PDF)
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