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Jun 30, 2016

Accounting for FERC’s Ability to Revoke MBR Authority in Project Financing Agreements

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On June 9, the Federal Energy Regulatory Commission (“FERC”) issued an order revoking authority to charge negotiated “market-based” rates (“MBR Authority”) previously granted to several subsidiaries of Berkshire Hathaway Energy Company (the “Berkshire MBR Sellers”) for wholesale sales of electricity in four balancing authority areas in the western U.S. This order serves as a reminder of the possibility that FERC may revoke MBR Authority and the need to address this when structuring financing for entities relying on MBR Authority.

View full memo, Accounting for FERC’s Ability to Revoke MBR Authority in Project Financing Agreements

Authors and Contributors

Donna J. Bobbish

Counsel

Project Development & Finance

+1 202 508 8089

+1 202 508 8089

Washington DC

Robert Freedman

Partner

Project Development & Finance

+1 212 848 4340

+1 212 848 4340

New York

Patricia Hammes

Partner

Project Development & Finance

+1 202 508 8110

+1 202 508 8110

Washington DC