Re-Examining First Principles of Regulation: NRG Power Marketing, LLC v. Maine Public Utilities Commission

Maine PUC and Morgan Stanley have resolved some of the key issues facing the energy industry. The Supreme Court has plainly and directly in both cases reaffirmed the central role that private contracts play in the energy industry and set terms to balance the need to secure long-term investment with the public interest that lies at the heart of the Federal Power Act.