Calpine Seeks OK on Ending Power Contracts

From Bloomberg News

Calpine Corp., which filed the largest bankruptcy case of 2005, asked a judge to allow it to seek permission to drop eight power contracts and deny a request by utilities that want a regulatory agency to review the issue.

U.S. District Judge Richard Casey reserved decision on the matter and said he hoped to rule by the weekend. Calpine has said it is losing about $1.1 million a day on the contracts.

San Jose-based Calpine is trying to reject the contracts and impose new terms in Bankruptcy or district court.


* La Canada Flintridge City Council members have decided to appeal an appellate court ruling that narrowed a city's control over cell towers on public land.

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