Inflation Reduction Act
Barclays Motion to Dismiss Raises Significant Issues About FERC Jurisdiction
After an investigation of actions in the western electricity markets by Barclays Bank PLC (“Barclays”), Daniel Brin, Scott Connelly, Karen Levine, and Ryan Smith (collectively, the “Traders” and together with Barclays, “Defendants”), the Federal Energy Regulatory Commission (“FERC”) issued an...
Barclays Motion to Dismiss Raises Significant Issues About FERC Jurisdiction
After an investigation of actions in the western electricity markets by Barclays Bank PLC ("Barclays"), Daniel Brin, Scott Connelly, Karen Levine, and Ryan Smith (collectively, the "Traders" and together with Barclays, "Defendants"), the Federal Energy Regulatory Commission ("FERC") issued an...
Checking Off the List: DOE Approves a Third Non-FTA LNG Export Authorization
The Department of Energy ("DOE") recently issued its third order authorizing the export of liquefied natural gas ("LNG") to non-Free Trade Agreement ("FTA") countries. This latest order, for Lake Charles Exports, LLC ("Lake Charles"), will allow exports of up to...
CFTC Exercises Disruptive Trading Authority for the First Time
By order dated July 22, 2013, the Commodity Futures Trading Commission ("CFTC" or "Commission") settled charges against Panther Energy Trading LLC and its principal Michael Coscia for engaging in the disruptive trading practice known as "spoofing." The CFTC charged that...
CFTC Exercises Disruptive Trading Authority for the First Time
Bob Pease served as team leader and one of the authors of the CFTC Disruptive Trading Interpretive Guidance and Policy Statement that put into place the spoofing rule. By order dated July 22, 2013, the Commodity Futures Trading Commission (CFTC...
FERC Requires Filing of Additional Oil Pipeline Rate Base Information
On July 18th, the Federal Energy Regulatory Commission ("FERC") approved a final rule that makes substantive changes to the components of FERC Form 6, which interstate oil pipelines are required to file each year. [1] The rule requires additional reporting...
FERC Assesses Record Civil Penalty But the Story Is Just Beginning
By Order dated July 16, 2013 the Federal Energy Regulatory Commission (FERC) assessed civil penalties against Barclays Bank Plc. and four of its traders "“ Daniel Brin, Scott Connelly, Karen Levine and Ryan Smith (Order). The Order is notable for...
FERC Assesses Record Civil Penalty But the Story Is Just Beginning
By Order dated July 16, 2013 the Federal Energy Regulatory Commission (FERC) assessed civil penalties against Barclays Bank Plc. and four of its traders – Daniel Brin, Scott Connelly, Karen Levine and Ryan Smith (Order). The Order is notable for...
DOE Approves LNG Export Authorization for Freeport LNG "“ A Win for LNG Exports?
The Department of Energy recently authorized Freeport LNG Expansion, L.P. ("FLEX") to export LNG to non-Free Trade Agreement countries. Importantly, this is the first order on LNG exports issued by the DOE since it collected comments on its two-part LNG...
Shippers Rolling the Dice to Gain Oil Pipeline Capacity
With the growing capacity constraints on oil pipelines, the Federal Energy Regulatory Commission ("Commission") has recently extended the bounds of what it considers acceptable methods of apportioning limited capacity. In Seaway Crude Pipeline Company LLC , 143 FERC ¶ 61,036...
FERC Punts on Closely Watched Request to Order a Shale Oil Pipeline Interconnection
In an order issued on March 22, the Federal Energy Regulatory Commission ("FERC") once again declined to require an interstate oil pipeline to grant an interconnection requested by another pipeline. The order, issued in response to a complaint by High...
Competition Advocacy Group Files Comments in FERC Proceeding Involving Transmission Merger
On January 22, 2013, the American Antitrust Institute (AAI), an independent non-profit organization with a mission to advance the role of competition in the economy and protect consumers, filed comments in the Federal Energy Regulatory Commission's proceeding involving the proposed...
FERC Demands Due Diligence and Continues Focus on ISO Communications
Last month, the Federal Energy Regulatory Commission (FERC) issued an Order Approving Stipulation and Consent Agreement [1] (EnerNOC, Inc., 141 FERC ¶ 61,211 (2012)) to resolve an investigation by the Office of Enforcement (Enforcement) into whether EnerNOC, Inc. (EnerNOC) submitted...
FERC Tees Up Enforcement for 2013
The specter of enforcement actions by the Federal Energy Regulatory Commission is looming large over the energy industries. In the post-election flurry of FERC enforcement activity, FERC curtailed JP Morgan Venture Energy Corp.'s authority to sell power at market-based rates...
CFTC Provides a Bit of Last-Minute Breathing Room on Swaps Regulation
On Friday October 12, the Commodity Futures Trading Commission's (CFTC) regulations defining the term "swap" took effect, triggering a cascade of new regulatory requirements pursuant to the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) for entities holding...