P.M. BRIEFING : Supreme Court Blocks Refunds
The Supreme Court today blocked indefinitely the effect of a lower-court ruling that could have provided natural gas consumers with tens of millions of dollars in refunds.
The justices, granting an emergency request by 21 energy companies, held in abeyance a decision by the U.S. 5th Circuit Court of Appeals that could have led to the refunds. They will act later on a formal appeal to be filed by the energy companies.
The New Orleans-based appeals court last Sept. 16 invalidated a 4-year-old federal regulation that allowed gas producers to raise some prices.
The appeals court ruled that the Federal Energy Regulatory Commission exceeded its authority in 1986 when permitting producers of “old” gas to raise their prices and to stop selling to pipeline companies not willing to pay the higher prices.
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