Calpine Corp.

Reading Municipal Light Co. filed a lawsuit against their former energy supplier for breach of contract. Calpine channeled electricity to the Reading distribution center at rates established in a 2002 contract that was scheduled to run through October 2007, but Calpine went bankrupt. Reading has 28,000 customers in Reading, North Reading, Wilmington, and Lynnfield whose rates would have had to increase because of the corporation's bankruptcy. However, Reading Municipal Light was able to recover $42.5 million from Calpine; residents' bills actually went down for the month of May, 2006. (May-11-06) [BOSTON GLOBE]

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