In a case that could have serious implications about the limits of judicial review, the Supreme Court will be deciding a narrow statutory interpretation question. The initial question is whether FERC has authority to regulate the rules used by operators of wholesale-electricity markets to pay for reductions in electricity consumption and to recoup those payments through adjustments to wholesale rates. But wrapped within that question is how much deference the Supreme Court is willing to give FERC on this matter. -- Featuring: Mr. Erik S. Jaffe, Sole Practitioner, Erik S. Jaffe, PC.