President & Fellows of Harvard College v. PECO Energy Co.

The plaintiffs, parties to contracts with the defendants (collectively, PECO) that obligated the plaintiffs to purchase, and PECO to sell, electricity, sought declaratory relief in the Superior Court. The dispute arose out of PECO’s insistence that the plaintiffs were entitled under the agreement to select either a five-year contractual term or a two-year contractual term, but not both. The plaintiffs assert the opposite, specifically, that they are authorized to select a two-year agreement and, at its expiration, contract for the remainder of the five-year term.3 Certain other parties were…