Wah Chang v. Public Utility Commission

Petitioner Wah Chang entered into a special contract with PacifiCorp whereby PacifiCorp agreed to supply Wah Chang with electricity at rates different from its standard industrial tariff. For the first three years of the five-year contract, Wah Chang was to receive a rate that was substantially lower than PacifiCorp’s standard industrial rate; for the remaining two years, Wah Chang was to be charged a rate tied to the Dow Jones California/Oregon Border (DOW COB) index, a market index that purported to reflect the average price for “day ahead” wholesale power transactions at the…