A New York Supreme Court dismissed as unripe a lawsuit challenging a New York State Public Service Commission (PSC) determination that a cryptocurrency company’s acquisition of ownership interests in a company that owns and operates a natural gas plant in North Tonawanda did not require further review under the Public Service Law. The PSC determined that environmental concerns raised by petitioners—which involved whether the transaction required the PSC to assess compliance with the New York State Climate Leadership and Community Protection Act’s greenhouse gas emissions reduction and environmental justice mandates—were beyond the scope of the PSC’s “limited review.” The New York court found that the petition did not present a ripe controversy because the petitioners had timely applied to the PSC for rehearing pursuant to the Public Service Law and the PSC had not yet ruled on the rehearing petition. The court did not reach alternative grounds for dismissal raised by the parties to the transaction. These parties argued that the petitioners lacked standing and that the case was moot because the transaction had closed in February 2023.

Lawsuit challenging the New York State Public Service Commission's decision to authorize a Canadian cryptocurrency company’s acquisition of ownership interests in a company that owns and operates a natural gas plant in North Tonawanda.

Clean Air Coalition of Western New York, Inc. v. New York State Public Service Commission

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New York Court Said Challenge to Review of Cryptocurrency Company’s Acquisition of Power Plant Was Not Ripe

Filed

United States of America

New York

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Area of the economy in which actors engage in identical or related activities.

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Either money or something of monetary value is transferred between two or more organisations, people or countries.

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New York Court Said Challenge to Review of Cryptocurrency Company’s Acquisition of Power Plant Was Not Ripe

Fossil fuel

Economic sector

Finance