Common use of Regulatory Background Clause in Contracts

Regulatory Background. Congrass enacted Part II of the FPA in 1935 to regulate the inter- state transmission and sale at wholesale of electricity ‘‘in the public 7 Nev. Power Co. v. Enron Power Mktg., Inc., 103 F.E.R.C. ¶ 61,353, at 62,384 (2003) (‘‘Nevada Power Initial Order’’), reh’g denied, 105 F.E.R.C. ¶ 61,185 (2003) (‘‘Nevada Power Rehearing Order’’).