Energy Regulation, Markets & Enforcement

We represent a wide range of participants in the U.S. power markets, including regulated utilities, power traders/marketers, public power entities, independent power producers, project developers, transmission owners, equity investors, financial institutions and manufacturers of renewable technologies. Our team provides essential strategic advice to meet commercial objectives, and ensure compliance with key federal and state statutes and regulations.

We also work closely with the firm’s transactional practices to provide regulatory support for mergers and acquisitions (M&A), financings, restructurings and other complex transactions. We are active in representations before FERC, the Commodity Futures Trading Commission (CFTC), the Department of Energy (DOE) and other federal agencies, Congress, federal and state courts and state regulatory commissions. We have deep knowledge of the regulatory issues surrounding the oil and gas industries, and regularly counsel our clients with respect to compliance issues and avoiding regulatory pitfalls. This experience is also valuable on the transactional side, as we assist our clients in the preparation of natural gas and oil sales, gathering, processing, fractionation, and transportation agreements.

Our regulatory practice consists of leaders in analyzing and advising on complex issues that arise under the Federal Power Act (FPA), the Public Utility Regulatory Policies Act (PURPA), the Public Utility Holding Company Act of 2005 (PUHCA), The Interstate Commerce Act, the Natural Gas Act (NGA) and various state energy industry statutes.

We help our clients navigate the complex regulatory landscape and market design issues facing participants in the U.S. power markets. We regularly provide advice to clients on wholesale market design issues, including the operation of regional energy, capability and ancillary service markets.

Our understanding of wholesale market design issues allows us to provide value in drafting and negotiating contracts—including power supply agreements, generation and transmission interconnection agreements, electric energy transmission service agreements, tolling agreements, energy management agreements and scheduling coordinator/Qualified Scheduling Entity agreements, natural gas purchase and sales agreements, and gas and oil transportation agreements—based in those markets.

Lawyers in our energy regulation practice regularly defend participants in the energy sector in investigations and enforcement actions before FERC, the Department of Justice, the CFTC and other federal agencies, Congress, state public service commissions and state legislatures. We also represent clients in investigations by NERC and various Independent System Operators/Regional Transmission Operators (ISOs/RTOs) and their market monitors.

Our practitioners also have significant experience developing and implementing comprehensive compliance programs to help our clients comply with the FPA and other federal energy statutes, FERC regulations, ISO/RTO market rules, and various state energy statutes and regulations.

We have a premier practice in matters involving, among other things, Sections 203, 204, 205 and 206 of the Federal Power Act (FPA).

As such, we regularly advise clients on:

• Utility mergers and asset acquisitions and divestitures (and routinely file FPA Section 203 applications for such transactions).
• Utility issuances of securities and assumptions of liabilities (and file FPA Section 204 applications for such transactions).
• Market power and mitigation issues, including those resulting from mergers and other consolidations.
• Transmission rate incentives.
• Market-based rates for wholesale power sales.
• Generation and transmission interconnection procedures.
• Regional transmission planning issues.
• FERC standards of conduct.