Category Archives: Oil & Gas

More FERC Federalism: D.C. Circuit Affirms FERC’s Jurisdiction Again – New England Power Generators Ass’n v. FERC

By Kenneth Irvin, Gregory Lawrence, Natalie Mitchell, and Katrina Olsen On July 8, 2014, the United States Court of Appeals for the District of Columbia Circuit denied the petition for review filed by New England Power Generators Association, Inc. and other market participants’ over … Continue reading

Posted in FERC, Oil & Gas, Power, Regulation

FERC Versus State Authorities: Supreme Court Agrees to Review ONEOK v. Learjet

By Kenneth Irvin, Terence Healey, Natalie Mitchell, and Christopher Polito On July 1, 2014, the U.S. Supreme Court granted a petition to hear an appeal by several companies contending that antitrust claims filed against them under state law over alleged manipulation of gas prices … Continue reading

Posted in FERC, Oil & Gas, Power, Regulation

ACER 2014 REMIT Report Confirms Continued Inquiries into Market Conduct

By Doron Ezickson and Adam Topping ACER calls for substantial funding increase to enable more aggressive monitoring and enforcement efforts in coordination with national regulators. On Tuesday 10 June 2014, the Agency for the Cooperation of Energy Regulators (“ACER”) published its annual … Continue reading

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

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

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

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

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