Electricity Regulation

Sidley lawyers frequently advise clients on issues arising from transactions involving electric utility businesses. Recently, we have assisted financial institutions in obtaining approvals for acquisitions or dispositions of assets and interests in electric utility businesses, including Exempt Wholesale Generators (EWGs) and Qualifying Facilities (QFs). We also assist clients, including underwriters’ counsel, in securities and debt issuances and matters involving securitization and structured finance in the electric industry.

Sidley represents clients in complex litigation before the Federal Energy Regulatory Commission (FERC) involving contract obligations, rate treatment for generation facilities designated as Reliability Must Run units and Regional Transmission Organization/Independent System Operator tariff issues. Sidley has also been active in representing energy companies in the Enron bankruptcy and other energy company bankruptcies stemming from the California electricity crisis. For the past several years, Sidley lawyers have been defending a major electric utility in class actions and other litigation against claims of price manipulation and antitrust violations in the California electric market.

Sidley has been extensively involved in all aspects of the restructuring of the electric utility industry, drawing upon our experience in deregulation and restructuring issues for clients in the railroad, telecommunications and natural gas industries. Sidley lawyers have prepared and helped obtain passage of restructuring legislation, both at the state and federal levels, and have substantial experience assisting clients with restructuring decisions in a deregulated environment. We actively participate in shaping and litigating administrative rules to govern competition in electricity and related services, including all matters relating to a client’s internal relations and its relationships with affiliates.

Since the enactment of the Energy Policy Act of 2005 and the subsequent initiation of numerous FERC rulemakings proceedings to implement that statute, Sidley lawyers have advised clients on developments in the regulation of the electric industry concerning the Public Utility Holding Company Act, Section 203 of the Federal Power Act, the status of EWGs and QFs and FERC’s new civil and criminal penalty authority to remedy violations of federal law.