Opinion of the Court filed by Circuit Judge TATEL.
TATEL, Circuit Judge.
In these consolidated cases, petitioner, a public utility, challenges two Federal Energy Regulatory Commission orders denying reimbursement for certain costs incurred in connection with the establishment of a now-defunct regional transmission organization. Finding FERC's decisions neither arbitrary nor capricious, we deny the petitions for review.
I.
In the late 1990s...
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