The Port of Corpus Christi is the U.S.’ largest energy export gateway and in terms of total revenue tonnage as increased midstream investments have opened export markets for the prolific Permian Basin.
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5th Circ. Upholds Texas Utility s $60M Liability Cap
Law360 (July 19, 2021, 7:10 PM EDT) A divided Fifth Circuit panel upheld a lower court s determination that a Texas utility s liability for stopping power purchases from a wind farm well before the end of a long-term contract is limited to $60 million, deciding the wind developer s argument to the contrary makes no sense.
The three-judge panel s majority said Friday that the Lower Colorado River Authority s liability is limited to $60 million in a long-running case over the utility s decision to back out of its 18-year contract about a third of the way through. However, a dissenting judge said Papalote Creek II LLC invested hundreds of millions to.