At Bracewell, We Know Energy®; we are not just an energy regulatory practice, but energy lawyers across multiple disciplines who understand the regulatory implications of achieving your commercial objectives. Our energy regulatory team is comprised of energy lawyers immersed in the industry and well versed in our clients’ businesses. For decades, Bracewell’s energy regulatory attorneys and consultants have practiced within and before federal and state courts, the Federal Energy Regulatory Commission (FERC), the U.S. Department of Energy (DOE), as well as state energy regulatory agencies. Our regulatory team includes counsel with more than 25 years of senior-level experience at the U.S. Commodity Futures Trading Commission (CFTC) and FERC.
Our lawyers have a deep understanding of the overarching energy regulatory regime and have been internationally recognized as a market leader by Chambers Global, with our Oil & Gas (Regulatory & Litigation) group receiving a Band 1 (2015-2020) ranking and our Electricity (Regulatory & Litigation) group receiving a Band 3 ranking in 2020. Market commentators recognize that Bracewell is frequently seen on big-ticket transactions, projects and regulatory disputes in both the power and oil and gas spaces.
Additionally, as part of our support to clients and friends of the firm on enforcement matters, Bracewell administers the Energy Compliance Network, an ad hoc industry group that monitors energy compliance and enforcement issues at the FERC, CFTC and state regulatory commissions. To keep our clients abreast of current regulations and potential impacts, Bracewell’s regulatory team also offers analysis and commentary featured on our Energy Legal Blog®.
We are a leading law firm in compliance with commodity trading regulations and the defense of enforcement of those regulations by regulators. Our team includes lawyers who have held in-house positions overseeing bank and trading company commodity businesses and structuring transactions, as well as senior positions with federal energy commodity regulators. We are consistently engaged in representations before the U.S. CFTC and the FERC and are well known to agency staff. Our large dedicated team with significant experience in the full range of commodity regulation has an in-depth understanding of our clients’ trading strategies and objectives and the regulations that govern them, allowing us to provide practical advice to mitigate compliance and enforcement risks and successfully resolve enforcement matters.
Our lawyers help clients avoid compliance issues that lead to activity by the DOE’s Office of Enforcement. Our energy regulatory team works closely with the firm’s litigation, transactional, white collar and environmental lawyers to provide comprehensive compliance and enforcement representation. We routinely develop audit procedures, regulatory compliance manuals and suggest procedures to ensure continued compliance with the requirements of the CFTC, FERC, DOE, Federal Trade Commission and various state agencies. We represent clients in responding to enforcement inquiries and investigations from FERC, CFTC and self-regulatory organizations such as CME Group and ICE Futures U.S. Our work extends from the initiation of the investigation, through data responses and depositions, to the matter’s final resolution. Bracewell provides comprehensive representation before the CFTC and other regulators in the development of regulations and policies to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act.
With decades of experience practicing within and before federal and state energy regulatory agencies, our energy team knows how to make regulation work for and not against our clients’ interests. Bracewell's energy regulatory group represents clients in all aspects of power generation and transmission regulation, licensing and ratemaking. The group's attorneys and non-attorney regulatory consultants, together with the firm's white-collar crime and regulatory investigations group, have experience in representing clients before the DOE, FERC, CFTC, Securities & Exchange Commission, Department of Justice and Federal Trade Commission in regulation, compliance and enforcement cases. Our regulatory team includes counsel with more than 25 years of senior-level experience at the CFTC and FERC, and our clients benefit from the relationships our lawyers and consultants have developed with decision-makers and staff at these agencies.
Bracewell’s large oil and gas regulatory team is unique among law firms handling oil and gas regulatory matters – we are not exclusively regulatory lawyers, but multi-disciplinary practitioners who are able to help clients navigate the implications of regulatory issues in project developments, acquisition and divestiture transactions, and disputes. Bracewell’s energy regulatory attorneys regularly practice within and before the FERC, DOE, CFTC, and other federal and state energy regulatory agencies. Our oil and gas regulatory practice is recognized as a market leader by Chambers Global, Chambers USA and Legal500 US earning the top ranking in each publication. We Know Energy®.
Recent Notable Matters
TC Energy Corporation — approximately $1.275 billion sale of US midstream assets held by its subsidiary, Columbia Midstream Group, to a subsidiary of UGI Corporation including regulatory work, jurisdictional analysis and responding to buyer diligence
Equinor — $1.1 billion sale of a 50 percent interest in two US offshore wind development projects to BP, including formation of a partnership to develop and operate the Empire Wind project offshore New York and Beacon Wind project offshore Massachusetts, which together could generate up to 4.4 GW. Regulatory advice included preparing and submitting bids into competitive solicitation processes conducted by New York and New Jersey for the supply of offshore renewable energy credit and advising on matters related to participation in the wholesale markets within these states
ENGIE North America Inc. — federal energy regulatory counsel related to the development of 2 GW of renewables, including 1.5 GW of wind and 500 MWs of solar
Kinder Morgan, Inc. — regulatory and commercial counsel for the approximately $2.0 billion Permian Highway Pipeline Project, designed to transport up to 2.0 billion cubic feet per day of natural gas
Kinder Morgan, Inc. — regulatory and commercial counsel for the approximately $1.7 billion Gulf Coast Express Pipeline Project, designed to transport up to 1.92 billion cubic feet per day of natural gas
Central Maine Power Company — FERC matters related to the New England Clean Energy Connect $950 million transmission project
Xcel Energy Services Inc. — FERC rate case for long-term requirements customers under cost-of-service power sales agreements
Vistra Energy Corporation — obtaining regulatory approval for the swap of two natural gas fired generation facilities, the 350 MW Sayreville Cogeneration plant in New Jersey and the 350 MW Bellingham Cogeneration facility in Massachusetts
White Cliffs Pipeline, L.L.C. — commercial and regulatory issues associated with open season and contracting
Powerex Corp. — US legal and regulatory advisor in negotiations with the California ISO (CAISO) to create a framework for cross-border participation in the CAISO's western energy imbalance and expanded multi-state day-ahead markets; representation at FERC for approval of the same
Apache Corporation — strategic partnership with EPIC Midstream Holdings, LP and Noble Energy Inc. to develop the EPIC Crude Oil Pipeline, including transportation service agreements, tariffs and related regulatory matters
Apache Corporation — formation of SCM Alpine, LLC, which will own and operate a greenfield NGL y-grade pipeline, including transportation service agreements, tariffs and related regulatory matters
Shell Energy North America (US), L.P. — heavily litigated Western energy markets cases before FERC involving long-term contracts
Phillips 66 Partners LP — joint venture construction and operating agreements for the Gray Oak Pipeline, LLC, a joint venture with Andeavor and an equity option with Enbridge Inc., and in a joint venture to develop the new South Texas Gateway Terminal with Buckeye Partners LP, a terminal at the Corpus Christi Bay, including transportation services agreements and related regulatory issues
Central Maine Power Company and The United Illuminating Company — a series of FERC complaint proceedings, including full hearings, and D.C. Circuit appeals regarding the return on equity the companies recover for their transmission investments through FERC jurisdictional transmission rates
Cheniere Energy, Inc. — formation of a joint venture for the development of the Midship pipeline project, an approximately 200 mile, 36-inch, FERC-regulated natural gas pipeline with capacity of up to 1,400 MMcf/day from the Scoop/Stack plays in Oklahoma to Bennington, Oklahoma, including drafting and negotiating precedent agreements for anchor shippers for the project and advising on regulatory and commercial matters
Energy Transfer Partners L.P. (including Sunoco Logistics) — regulatory counsel on crude oil pipeline projects including Dakota Access, Bayou Bridge, Permian Express 2, Permian Express 3, and other crude oil pipelines; advised on open season and transportation agreement issues and handled regulatory approvals, including obtaining declaratory orders from FERC approving rates and terms and conditions of service
Enterprise Products Partners L.P., Targa Resources, and Energy Transfer Partners — various filings in dockets involving the Magellan Petition for Declaratory Order on marketing affiliates and the pending petition for rulemaking on marketing affiliate standards of conduct for oil pipelines;. drafted comments in those dockets for other pipeline companies
New England Power Generators Association — filed complaint on behalf of the NEPGA against ISO New England regarding how to price the capacity of a large generation resource in the annual capacity auction
Rockland Capital, LLC — FERC approvals and other energy regulatory submittals for Rockland's asset acquisition of a portfolio of six generating plants with a combined generation capacity of 972.5 MW from AES Ohio Generation, LLC
Avangrid Renewables Holdings, Inc. — regulatory and commercial advice regarding a complex structure providing for the optimization of transmission among renewable generators
Great Plains Energy Incorporated — FERC regulatory submittals, including Federal Power Act Section 203 authorization, for the revised stock-for-stock merger of equals transaction with Westar Energy, Inc., creating Evergy Inc., a company with a combined equity value of approximately $14 billion, and with nearly 13,000 MW of generation capacity and more than 51,000 miles of distribution lines
TexGen Power LLC (formally ExGen Texas Power, LLC) — successfully handled Texas PUCT review of generator holdco though bankruptcy process and foreclosure with non-traditional equity requiring a unique market power analysis
Hydro One Limited — FERC counsel for approvals for the now terminated $5.3 billion acquisition of Avista Corporation in an all-cash transaction, that would have established one of North America's largest regulated electricity and natural gas businesses with more than $25.4 billion in combined assets
Multi-national company — CFTC investigation in which CFTC staff has alleged market manipulation involving a petroleum product
Numerous clients — both registered and unregistered, in investigations and enforcement proceedings conducted by CME Group and ICE Futures US, including investigations into allegations of position limit violations, non-bona fide prearranged trades (exchange for related positions and block trades), fictitious and wash trades, fraud, market manipulation, and disruptive trade practices
Cheyenne Light, Fuel and Power Company — fixed stated transmission rate case before FERC for an electric utility located in Wyoming related to a large transmission project and subsequent transmission formula rate case
Numerous clients — non-public, CFTC and FERC investigations surrounding allegations of wash and fictitious trades, position limit violations, and market manipulation, including responding to data requests, defending depositions, responding to CFTC Wells notices and FERC preliminary conclusions and settlement negotiations
Shell Energy North America (U.S.) L.P., Avangrid Renewables Holdings, Inc., Madison Gas and Electric Company, EDF Trading North America L.L.C., Northeast Utilities Service Company, American Electric Power Company, Total Gas & Power, Covanta Energy Corporation, ENGIE (f/k/a GDF SUEZ Energy North America, Inc.), Black Hills, NRG Energy, Inc. and South Jersey Industries, Inc. — comprehensive representation before the CFTC and other regulators in the development of regulations and policies to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act