Why the Ninth Circuit Court's Decision on Contracts Signed during the Western Markets Crisis Is a Call for FERC to Enhance Its Oversight of Market Competitiveness

Current complaints about problems in the nascent wholesale energy markets should not allow buyers to escape their contractual obligations. It would throw out the baby with the bathwater if the December 2006 decisions provide an excuse for buyers to renege on contractual commitments because today's energy markets are imperfect.