Author Archives: Cadwalader

Update Regarding D.C. Circuit’s Demand Response Ruling

By Kenneth Irvin, Gregory Lawrence, Sohair Aguirre and Natalie Mitchell There have been several notable developments in the Electric Power Supply Ass’n v. FERC proceeding, and in other, related proceedings since the firm’s last memo regarding the D.C. Circuit’s demand response ruling. On June … Continue reading

Posted in FERC, Oil & Gas, Power, Regulation

EPA Proposes First Carbon Emissions Limits for Power Plants

By Athena Eastwood, Kenneth Irvin, Gregory Lawrence, Douglas Fischer and Neal Kumar On June 2, 2014, the U.S. Environmental Protection Agency announced its Clean Power Plan, which would impose the first federal limits on carbon-dioxide (CO2) emissions from power plants in the United States.  The … Continue reading

Posted in Emissions, EPA, Power, Regulation, Renewables

D.C. Circuit Vacates FERC’s Wholesale Demand Response Compensation Rule Because It “Goes Too Far”

By Kenneth Irvin, Gregory Lawrence, Sohair Aguirre and Natalie Mitchell On May 23, 2014, the U.S. Court of Appeals for the District of Columbia Circuit (“D.C. Circuit”), in a 2-1 decision, vacated in its entirety and remanded Order No. 745 of the Federal Energy … Continue reading

Posted in FERC, Oil & Gas, Power, Regulation

FERC Orders Evidentiary Hearing for Alleged Market Manipulation by BP

By Christopher Polito and Paul Pantano On May 15, 2014, the Federal Energy Regulatory Commission (FERC) issued an order setting an evidentiary hearing before an administrative law judge (ALJ) to determine whether BP America Inc., BP Corporation North America Inc., BP America … Continue reading

Posted in Commodity Trading, Enforcement and Investigations, FERC, Oil & Gas, Regulation

SAVE THE DATE: 2014 Energy & Commodities Regulation, Compliance and Enforcement Conference

Cadwalader, Wickersham & Taft LLP will be hosting its annual Energy & Commodities Conference in Houston, Texas. The program will feature informative presentations and panel discussions on the evolving regulatory and enforcement issues affecting the U.S. and international energy and … Continue reading

Posted in CFTC, Commodity Trading, CSAPR, Dodd-Frank, DOJ, EMIR, Emissions, Enforcement and Investigations, EPA, ERCOT, Events, FERC, FTC, MiFID, MiFIR, Mining/Metals, Oil & Gas, Power, PUCT, Regulation, Renewables, SEC

Significant Upwind Impact: The Supreme Court Upholds Cross-State Air Pollution Rule

By Athena Eastwood, Kenneth Irvin, Gregory Lawrence, David Williams, Sohair Aguirre, and Sarah Tucker. On Tuesday, April 29, 2014, the U.S. Supreme Court upheld the U.S. Environmental Protection Agency’s (“EPA”) Cross-State Air Pollution Rule (“CSAPR”).  EPA v. EME Homer City Generation, L.P., No. 12-1182.  In a … Continue reading

Posted in Cases, CSAPR, Emissions, Energy Infrastructure, EPA, Power, Regulation, Renewables

EMIR Clearing and Margin Consultation Paper Proposes Rules Which Will Impose Substantial Trading Costs on Market Participants

By Doron Ezickson, Nick Shiren, Assia Damianova, and Adam Topping The European Market Infrastructure Regulation (“EMIR”) imposes a number of risk mitigation techniques on counterparties to uncleared swaps.  Some of those involve much tighter operational procedures (such as the rules for timely confirmations, portfolio … Continue reading

Posted in Commodity Trading, EMIR, Oil & Gas, Power, Regulation

New Jersey Appeals Court Interprets Force Majeure Clause in NAESB

By Kenneth Irvin, Daryl Rice and Sohair Aguirre In a ruling of significant importance for those confronting force majeure (“FM”) issues in natural gas trades, and a win for Hess Corporation (“Hess” or “Plaintiff”), the Superior Court of New Jersey, Appellate Division ruled … Continue reading

Posted in Cases, Oil & Gas, Power

Going Public: Powhatan Energy Fund’s “Insurance Policy” Regarding FERC Enforcement’s Non-Public Manipulation Investigation into the Fund’s “High-Frequency” PJM Trading Activity

By Gregory Lawrence and Lynna Cobrall On February 28, 2014, Powhatan Energy Fund (“Powhatan”) launched a public website disclosing that for more than three years, the Federal Energy Regulatory Commission (“FERC”) Office of Enforcement (“OE”) has been investigating Powhatan for … Continue reading

Posted in Enforcement and Investigations, FERC, PJM, Power, Regulation

Proposed FERC Rule Marks Significant Shift in Approach Toward Inter-Affiliate Service Agreements

By Ken Irvin, Anna Biegelsen, Ryan Norfolk, Katrina Olsen and Katherine Vorhis In a March 20, 2014, Notice of Proposed Rulemaking (Proposed Rule), the Federal Energy Regulatory Commission (FERC) proposed, among other things, a requirement that all interstate pipelines offer … Continue reading

Posted in FERC, Oil & Gas, Power, Regulation