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Vertically integrated utilities frequently sell wholesale electricity to municipally owned utilities or rural electric cooperatives that resell the electricity in local markets.' These smaller utilities often compete with the vertically integrated utility for retail customers. If the larger utility charges a wholesale price so high that the smaller utilities cannot buy and distribute power at a retail price competitive with the retail price charged by the larger utility, a "price squeeze" occurs. A wholesale rate creating a price squeeze may violate federal law in two ways: it may be a monopolistic practice in violation of the antitrust laws, and it may be an "unreasonable" rate prohibited by the Federal Power Act.2 A retailer injured by a price squeeze thus may seek relief from the wholesale rate before two different decisionmakers: a federal district court, which is the arbiter of antitrust disputes, or the Federal Energy Regulatory Commission (FERC),3 which is the agency charged with enforcing the Federal Power Act. The relationship between federal district courts and the FERC is unsettled in price-squeeze cases. In order to eliminate a price squeeze in an antitrust suit, a court may have to become involved in the process of setting wholesale rates by requiring a defendant utility either to file a lower wholesale rate with the FERC or to refrain from charging a filed rate. In so doing a court may interfere with Congress's explicit delegation of control over wholesale rates to the FERC. Recognizing this problem, courts have disagreed

Antitrust Jurisdiction and Remedies in an Electric Utility Price Squeeze