Does the Uniform Commercial Code Apply to Power Purchase or Sale Agreements?
One thing that all consumer-owned utilities have in common is power contracts. All utilities have at least one wholesale power purchase agreement. Utilities that have their own generating resources or have made forward power purchases will also likely need wholesale power sales agreements to deal with surplus power. Many consumer- owned utilities have special contracts with large retail customers. What these utilities may not realize, however, is how their legal rights and obligations under these different power contracts may be affected by the Uniform Commercial Code…….read moreShare