Power supply

DALLAS — An appeals court in Texas ruled the Electric Reliability Council of Texas is not entitled to sovereign immunity on claims that it published false market information in 2011 and 2012 about a “scarcity of power supply.” Plaintiff Panda Power Funds says it relied on the information to spend $2.2 billion building three new power plants and now sells power “at a fraction of the price for which it would have sold power” if not for the Council’s representations.