Stephen J. Hug, Partner, Projects & Energy Transition

Stephen J. Hug

Partner

Areas of Focus

Stephen J. Hug, Partner, Projects & Energy Transition

Stephen J. Hug

Partner

shug@akingump.com

Areas of Focus

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Biography
  • Advises companies participating in the power sector on regulatory, commercial and transactional matters related to electric generation and transmission assets.
  • Represents generation developers, marketers and transmission owners in matters before the Federal Energy Regulatory Commission (FERC) and state regulatory commissions and agencies.
  • Previously served as an attorney advisor in the Office of the General Counsel, Energy Markets at FERC.

Stephen advises clients on a range of regulatory, commercial and transactional matters related to the U.S. power sector. He regularly counsels clients in matters related to federal and state regulatory policies, regulations and rules applicable to the electric and renewable power industries. He has extensive experience with FERC and the Federal Power Act (FPA), including obtaining authorization for the acquisition and disposition of securities in utilities and generation and transmission assets, tax equity and passive ownership interests, wholesale market design, enforcement and compliance, Regional Transmission Organizations/Independent System Operators (RTO/ISO) matters, and representation of utilities in contested proceedings before FERC.

Stephen also has experience with state regulatory matters, including:

  • State net metering programs
  • State renewable portfolio standards
  • Interconnection issues
  • Retail choice programs
  • Solicitations for offshore wind and other renewable resources.

Stephen regularly negotiates commercial agreements on behalf of generation developers, storage operators and energy marketers. Among other things, he has advised clients on power purchase agreements, tolling agreements, agreements for the sale of renewable energy credits and non-wires alternative agreements.

Prior to entering private practice, Stephen was an attorney advisor in the Office of the General Counsel, Energy Markets at FERC, where he reviewed and analyzed filings submitted under Sections 205 and 206 of the FPA.

Representative Work
  • Represented Equinor in the negotiation of purchase and sales agreements and conditional grant agreements with the New York State Energy Research and Development Authority (NYSERDA) in support of the 1,260 MW Empire Wind 2 and the 1,230 MW Beacon Wind projects.
  • Represented Equinor in the $1.1-billion sale of a 50% interest in two U.S. 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.
  • Represented Tenaska Inc. in a complaint proceeding at FERC against Southwest Power Pool, challenging allocation of approximately $100 million in network upgrade costs to wind generation facility.
  • Represented Convergent Energy and Power LP in the negotiation of settlement related to rates assessed by Southern California Edison for charging energy storage resources interconnected to SCE’s distribution system.
  • Represented New England Power Generators Association in a complaint against ISO New England Inc. concerning the retention of resources needed for fuel security.
  • Represented Vistra Corp. in FERC approvals and other regulatory submittals for exchange of equity interests with NextEra in natural gas fired generators.
  • Represented Vistra Corp. in petition for waiver of MISO interconnection rules to facilitate replacement of retiring fossil fuel resources with energy storage.
  • Represented Equinor Wind Services LLC in the agreement for sale of offshore wind renewable energy certificates to NYSERDA.
  • Represented Oakland Power (f/k/a Dynegy Oakland) in proceedings pertaining to a reliability must-run agreement with the California Independent System Operator Corp.
  • Represented Avangrid Renewables Holdings in the FERC approval of an acquisition of outstanding membership interests in 162 MW wind powered electric generation facility.
  • Represented Shell New Energies US LLC in the FERC approval for an acquisition of a competitive retail supplier.
  • Represented an energy storage developer in the agreement for sale of resource adequacy to California Community Choice Aggregator.
  • Represented Avangrid Renewables Holdings in the FERC approval to make sales of energy, capacity and ancillary services to an affiliated franchised public utility.
  • Represented Convergent Energy and Power LP in the negotiation of a settlement agreement establishing a first-of-its kind pilot program for energy storage resources participating in the regulation markets operated by PJM Interconnection LLC.
  • Represented Rockland Capital LLC in FERC approvals and other 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.
  • Represented Texas Microgrid LLC in the first-of-its-kind project financing for the construction and operation of a portfolio of distributed microgrids consisting of ultraclean natural gas-fired generators within ERCOT service territory with up to 232 MW of generating capacity.
  • Represented AP Energy Holdings Inc. and South Field Energy LLC in the $1.3-billion project financing and equity arrangements for the construction of the South Field Energy project, a 1,182 MW combined-cycle natural gas electric generating facility located near Wellsville, Ohio.

List may include matters worked on prior to joining Akin.

Education
  • J.D., American University, Washington College of Law, cum laude, 2009

  • LL.B., University of Ottawa, Ontario, cum laude, 2009

  • B.A., University of Massachusetts Amherst, summa cum laude, 2005

Bar Admissions
  • District of Columbia

Recognitions
  • Chambers Global, Energy: Electricity (Regulatory & Litigation), 2024.
  • Chambers USA, Nationwide Energy: Electricity (Regulatory & Litigation), 2021 and 2023 - 2024.
  • The Legal 500 US, Energy Regulatory: Conventional Power, 2020-2021.
  • IFLR, Rising Star, Energy and Natural Resources.
Affiliations and Public Service
  • Chair, International Energy Law and Transactions Committee, Energy Bar Association, 2013–2014; Vice-Chair, 2012–2013
Speeches and Publications
  • “Distributed Energy Resources,” Proximo U.S. Power and Renewables Finance, November 2021.
  • “NYISO Market Updates & Dynamics: Their Implications for Market Participants,” EUCI, September 2020.

Insights and Achievements

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