Lifestyle

Moore’s Bacon Seeks ‘Level Playing Field’ In Power Line Fight

Feb 2 2010 | 9:50am ET

When it comes to the power line proposed for his enormous Colorado ranch, Moore Capital Management founder Louis Bacon and the two utilities that want to build the line don’t agree on much.

A lawyer for Bacon yesterday told a Colorado Public Utilities Commission administration law judge that it should toss the application for the power line because representatives of Xcel Energy and Tri-State Generation and Transmission Association improperly met with members of the commission without a representative of Bacon present.

“We believe we’re entitled to a level playing field and a decision by an impartial tribunal,” Timothy Flanagan said.

Meanwhile, Bacon also challenged the merits of the project, which would build a 140-mile power line across Bacon’s 250-square-mile Trinchera Ranch in southern Colorado. Bacon bought the ranch from the Forbes family two years ago for $175 million.

Trinchera says there is a better route that would both cost less and deliver more power.

Not so on both counts, say the utilities. Trinchera’s proposal would nearly double the length of the power line and increase its $180 million price tag by tens of millions of dollars. They also dismissed Bacon’s claim that they are improperly trying to sway the CPUC, calling the claim a diversionary tactic. David McGann, a lawyer for Xcel Energy, said such meetings between the CPUC and utilities such as itself are permissible.

A ruling on Bacon’s dismissal bid is expected this week.


In Depth

Will Liquid Alts’ Performance Sustain Future Asset Flows?

Aug 25 2014 | 10:34am ET

Liquid alternative investment funds saw the highest percentage of capital inflows...

Lifestyle

Hedgies, Economists and Musicians Mingle At Milkin Mixers In Hamptons

Aug 25 2014 | 6:00am ET

Leave it to Michael Milken to bring some gravitas and sweat to the Hamptons -- along...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.