Think geomagnetic disturbances are not relevant to you? Think again. On October 18, 2012, the Federal Energy Regulatory Commission (“FERC”) issued a Notice of Proposed Rulemaking (“NOPR”) in Docket No. RM12-22-000 to address the potential threat of such a disturbance. Buried in footnote 24 of the NOPR is the potential cost, up to $500,000 per blocking device that may need to be installed on “each affected transformer.” Certain generator step-up transformers as well as certain transformers owned and operated by transmission providers registered to comply with North American Electric Reliability Corporation (“NERC”) Reliability Standards may be subject to a future requirement to install such costly new equipment. A disruption to the Hydro-Quebec grid that occurred in 1989 was cited as an example of the harm that may be associated with geomagnetic disturbances. (more…)
Tuesday, October 16, 2012
2:00 pm – 3:00 pm ET
The future of the power and energy industries from the perspective of investors and sponsors – including implications for coal, gas and oil prices, regulatory activity, permitting trends, enforcement, environmental, and legislative and tax prospects – will face changes based on the outcome of both the Presidential and Congressional elections this November.
Bracewell & Giuliani will host a complimentary webinar featuring Scott Segal, head of the Policy Resolution Group of Bracewell & Giuliani LLP. For over 20 years Scott has been a leading lawyer and advocate in Washington, D.C. for energy investors, sponsors, developers, and power producers on sensitive issues such as energy legislation and regulation, the Clean Air Act, and environmental issues. Scott will be joined by Jeff Holmstead, who heads Bracewell’s Environmental Strategies Group and was the longest-serving head of the EPA’s Office of Air and Radiation, and by the head of our Financial Restructuring Group, Evan Flaschen.
This webinar will focus on issues such as:
- The impact the next President and Congress will have on energy and clean air policy
- Regulatory prospects, challenges and opportunities for coal-fired projects
- Regulatory prospects, challenges and opportunities for fracking
- Investment opportunities in energy-related industries and technologies
- Is it safe yet to invest in green energy projects and technologies? Nuclear?
- Implications of the election for power and energy restructurings
For more information or to register, click here.
Category: Air Quality/Climate Change, Enforcement, Environmental, National Energy Law, Natural Gas/LNG, Nuclear, Offshore, Regional Energy Law, Reliability, Renewable Energy/Cleantech, Upstream Energy
Bracewell & Giuliani LLP announced today that five partners, formerly with Dewey & LeBoeuf, will join the firm in its New York, Washington, D.C., and Connecticut offices, effective immediately. The group includes John G. Klauberg, Dewey’s former co-head of the Utilities, Power and Pipelines Global Industry Sector Group, as well as Catherine P. McCarthy, former Dewey co-head of the Energy Regulatory Department. It is anticipated that they also will be joined by a number of associates.
“We are excited to be adding this group,” said Bracewell Managing Partner, Mark C. Evans. “We have been looking to enhance our energy practice in the northeast, and our new partners will immediately help us in this regard. Many of our partners have worked with John and Cathy and their teams for years and have great respect for their work. They will all be outstanding additions to the firm,” added Evans.
The partners include John G. Klauberg and Frederick J. Lark (New York); Catherine P. McCarthy and David R. Poe (Washington, D.C.); and Charles F. Vandenburgh (Connecticut).
For more information, click here.
Rudy Giuliani was in Houston last Thursday to address an oil and gas industry symposium, and spoke with the Houston Business Journal’s Deon Daugherty about a number of energy issues. On the agenda:
- Taking cues from China about how to build a nationwide energy policy that will serve future power needs while still developing the long-term future of renewables.
- Realistic strategies for achieving energy independence.
- The role that nuclear energy can play.
To read the complete interview, click here.
With the 2012 election year upon us, it promises to be an interesting year in energy politics and policy. Here are 12 (really 13 because of some creative headline writing) issues that will keep the sector hopping this year.
1. Keystone Cops – The biggest energy story of the first quarter without a doubt will be the Keystone pipeline. Not only has this issue blossomed into a larger-than-reality political issue, the President has seemingly been boxed into a corner on the issue that will force him to choose between two major constituencies – labor and environmentalists – just after he thought he got the political break he needed to delay the decision, thanks to Nebraska Republicans. Nonetheless, the battle will rage as the decision approaches. Regardless of the final result after 60 days (I’m predicting politics/jobs will win the day), the legal battle will likely begin then (promising a real fight) – of course likely delaying a final decision until after the election anyway. (more…)
Category: Air Quality/Climate Change, CFTC, Courts, DOE, Enforcement, Environmental, FERC, Mergers & Acquisitions, National Energy Law, Natural Gas/LNG, Nuclear, Offshore, Organized Markets, Regional Energy Law, Reliability, Renewable Energy/Cleantech, Shale Development, Transmission
In a November 18 annual report on FERC enforcement actions, the agency’s Enforcement Staff disclosed the outcomes of those actions, including those that the agency took in response to 93 self-reports of violations. The clear message from this annual recap is that prompt self-reporting pays big dividends.
Fiscal year 2010 showed a 24 percent decrease in the number of self-reports compared to the preceding fiscal year, but of those self-reports a majority, 58 percent, were closed with no penalty assessed. The remaining self-reports were still pending an initial review. As to why so many self-reports are closed without penalty, Enforcement Staff explained that in most cases the offender took effective remedial action and promptly submitted a self-report. Further, the Commission chose to impose no penalty in cases where the violation harmed neither the market or other parties or where the violation was inadvertent. Other reasons for declining penalties included: (more…)