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CFTC Commissioner O’Malia Resigns from the CFTC to join ISDA

On Monday, July 21, CFTC Commissioner Scott D. O’Malia announced his resignation from the Commission as of August 8, 2014.  On July 23, the International Swaps and Derivatives Association (ISDA) announced that Mr. O’Malia was appointed chief executive officer and a director of ISDA.  See Scott O’Malia Appointed Chief Executive Officer of International Swaps and … Continue Reading

Commerce Department Clarifies Requirements for Exporting Condensate Oil

In a determination rendered last week, the Commerce Department provided guidance to two companies on the application of export controls to processed  condensate  that could mark a potential thaw in the long-standing ban on exports of crude oil. Condensate is an ultra-light oil that has seen increasing domestic development alongside the recent boom in shale … Continue Reading

Senate Confirms New CFTC Commissioners

On Tuesday, June 3, the Senate approved the nominations of Timothy Massad to be Chairman of the CFTC and Christopher Giancarlo and Sharon Bowen to be Commissioners of the CFTC.  Messrs. Massad’s and Giancarlo’s nominations were approved by voice vote.  Ms. Bowen’s nomination, however, was more controversial as demonstrated by its approval by a recorded … Continue Reading

The EU’s New Energy Efficiency Directive Becomes Applicable Across Europe

On June 5, 2014, the European Union’s Energy Efficiency Directive (“EED”) will become applicable in all EU Member States. This Directive establishes an EU-wide framework aimed at promoting energy efficiency and will provide important challenges and opportunities for companies doing business in Europe. What is the purpose of the Directive? The EED is one of … Continue Reading

Federal Court Upholds Colorado Renewable Energy Portfolio Law

A Colorado federal district court Friday rejected a constitutional challenge to the state’s renewable energy portfolio law, concluding that it did not impose an impermissible burden on interstate commerce. Thirty states and the District of Columbia have enacted renewable portfolio standards, which typically require that a specified percentage of energy supplied by state utilities derive from … Continue Reading

Potential CFTC Regulatory Changes for Energy Market Participants Highlighted by Commissioner Scott O’Malia

At a recent speech at an energy industry conference CFTC Commissioner Scott D. O’Malia highlighted energy market participant concerns with the CFTC’s Dodd-Frank Rulemakings.  These concerns indicate potential regulatory changes at the CFTC that could impact energy market participants. Commissioner O’Malia noted that the CFTC must re-visit the swap dealer definition rule to “establish a … Continue Reading

FERC and CFTC Launch Information Sharing MOU

Earlier this year, the CFTC and FERC announced an information sharing Memorandum of Understanding (MOU) between the two agencies. The agencies have now announced that they have begun sharing market data pursuant to this MOU.  In addition, they have created an Interagency Surveillance and Data Analytics Working Group “to coordinate information sharing between the agencies … Continue Reading

Third Circuit Upholds FERC Order Approving PJM Tariff Targeting State Generation Capacity Subsidies

In the latest salvo in an ongoing controversy over state efforts to subsidize local generation capacity development, the Third Circuit in New Jersey Board of Public Utilities v. FERC upheld a final FERC order approving a PJM Interconnection tariff governing its wholesale capacity market.  The court denied appeals by the New Jersey and Maryland utility … Continue Reading

Proposed Rules Requiring Carbon Capture at New Coal Power Plants Would Nearly Double Costs

Carbon dioxide (CO2) capture and storage (CCS) technologies, used for decades in industries that could produce revenue from the use of CO2 to offset the high costs, have more recently come to the forefront of clean energy policy as a way to reduce CO2 emissions from new and existing coal-fired power plants. In 2013, President … Continue Reading

The UK Government pledges to cut green taxes, but at what cost to gas and electricity suppliers?

Governments globally are grappling with difficult decisions about green energy policies: maintain green initiatives or remove the strains on economic growth? It is interesting to look across the globe for examples of how different Governments are reacting. In recent months, the UK has opted to “tweak” its green levies to save households an anticipated average … Continue Reading

EPA Approves Texas Clean Air Act SIP

After years of controversy, EPA has announced it is planning to approve Texas’ Clean Air Act State Implementation Plan (SIP).  EPA had previously rejected Texas’ SIP, contending that is program was incompatible with federal requirements.  In particular, Texas objected to EPA’s requirement that they install a permitting regime for Greenhouse Gas (GHG) emissions. However, in … Continue Reading

Law360 Names Covington “Energy Practice Group of the Year”

Here at Inside Energy & Environment we are honored to share that Law360 has named Covington’s energy practice as a 2013 “Energy Practice Group of the Year.”  In giving this award, Law360 recognized the breadth of Covington’s practice capabilities (including litigation, transactions, regulatory and government policy) in both the traditional energy and clean energy sectors, … Continue Reading

California Issues New Interim Fracking Regulations

California’s Division of Oil, Gas, and Geothermal Resources just issued final interim regulations (effective January 1, 2014) to implement California’s new fracking statute (SB 4), with permanent rules to follow by January 2015.  For an overview of the fracking statute, see our September E-Alert. The Division’s interim regulations are supported by a narrative description that provides … Continue Reading

FERC and CFTC Enter into Long-Awaited MOUs in Response to Dodd-Frank Act

On January 2, 2014, the Federal Energy Regulatory Commission (FERC) and the Commodity Futures Trading Commission (CFTC) entered into two Memoranda of Understanding (the MOUs) to set forth procedures to address circumstances of overlapping jurisdiction (the Jurisdiction MOU) and to share information in connection with market surveillance and investigations into potential market manipulation, fraud or … Continue Reading
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