David Austin quoted in Canadian Business

Firm News

David Austin was recently interviewed by Canadian Business‘ Doug Ward about a $750 million settlement following a decade-long legal battle in which the state of California accused Powerex of manipulating energy prices during the state’s 2000-01 energy crisis.

According to David, Powerex’s legal options were limited by FERC’s regulatory powers in the U.S.: “Because you are a regulated entity, you are not allowed to gang up on somebody who needs electricity. You don’t have to sell it to them, but you can’t gang up on them—and this presumably is what the evidence showed.”