MR. JUSTICE REED delivered the opinion of the Court.
Respondent California Electric Power Company produces electricity in California, partially by hydroelectric projects licensed under Part I of the Federal Power Act. 41 Stat. 1063, as amended by Title II of the Public Utility Act of 1935, 49 Stat. 838, 16 U. S. C. § 791a et seq., and markets the greater portion of it, subject to respondent Public Utilities Commission's authority, in that State. The jurisdictional...
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