Energy Future: NextEra Energy reconsideration order stay motion denied

By Caroline Salls

Pittsburgh, Dec. 11 – Energy Future Holdings Corp. interested party NextEra Energy, Inc.’s motion for a stay of an order granting a motion for reconsideration of the approval of its termination fee, pending the outcome of NextEra’s appeal of the order, was denied Monday by the U.S. Bankruptcy Court for the District of Delaware.

NextEra appealed the reconsideration order on Oct. 30.

As previously reported, the court said in an Oct. 3 ruling that it will reconsider a September 2016 order approving a NextEra Energy $275 million termination fee because that order “was based upon a fundamental misapprehension of critical facts.”

The fee in question was included in NextEra’s agreement to purchase Energy Future’s economic interest in Oncor Electric Delivery Co, LLC.

The purchase agreement with NextEra was terminated earlier this year after the transaction failed to obtain the approval of regulatory officials in Texas.

Energy Future is a Dallas-based power generation company and utility operator. The company filed for bankruptcy on April 29, 2014. The Chapter 11 case number is 14-10979.

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