Electricity Regulation
Sidley lawyers have represented the nation’s largest electric utilities on FERC regulatory matters relating to transmission tariff and rate issues including FERC rate cases and FERC incentive rate filings for large new transmission facilities, and disputes involving electric market operations. The FERC public utility practice includes a leading role in the ongoing multi-billion dollar FERC and appellate proceedings relating to resolution of the California electric crisis. In addition to litigation at FERC, Sidley lawyers have been involved in complex litigation in federal and state courts and before state regulatory commissions concerning energy disputes and antitrust and other commercial and contract issues arising from utility operations, including disputes arising from the California electric crisis.
Sidley lawyers frequently advise clients on issues arising from transactions involving electric utility businesses. We have substantial experience in litigation involving utility mergers and in preparation of utility merger applications. 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 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. We participated in the development of FERC Order 888 (involving open access transmission of electric power), and its subsequent implementation through imposition of open access tariff rates for utilities throughout the nation. 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 matters relating to a client’s internal organization and its relationships with affiliates.
Since the enactment of the Energy Policy Act of 2005, Sidley lawyers have advised clients with respect to numerous FERC rulemaking proceedings to implement that statute. We have also been actively involved in other developments in the regulation of the electric utility industry, including those regarding 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.
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