Vermont Department of Public Service v. Federal Energy Regulatory Commission, Vermont Electric Power Company, Intervenor

STARR, Circuit Judge:

This case calls upon us to review an agency’s interpretation of an electric utility contract. Specifically, the Vermont Department of Public Service (“VDPS”) challenges the Federal Energy Regulatory Commission’s determination that VDPS’s contract with Vermont Electric Power Company (“VELCO”) for transmission of power permitted VELCO unilaterally to make a series of rate filings with the Commission disaffirming certain supervisory powers reserved to VDPS in the original transmission contract. After careful review, we conclude that FERC’s interpretation of the contract was…