In a May 21 article for Law360, Michael Hornstein, David Doot, Joseph Fagan, Michael Stosser and Eric Runge discuss the D.C. District Circuit's decision to support FERC's basing return on equity on the median of a zone of reasonableness. Southern California Edison had challenged the use of median rather than the midpoint for several transmission projects. The attorneys write that "using the median instead of the midpoint can have a material affect on the ROE, with a correspondingly large revenue impact. It remains to be seen whether this decision will be a precursor to an industrywide reassessment of existing ROEs, potentially triggering numerous complaint proceedings seeking to lower ROEs to reflect the commission's current methodology."
Day Pitney Energy and Utilities Partners Sebastian M. Lombardi (Hartford) and Evan C. Reese III (Washington, DC) have been named to the inaugural 2023 Lawdragon 500 Leading US Energy Lawyers list. For more information on the methodology, click here.
Day Pitney Energy Partner Sebastian M. Lombardi's election by the Connecticut Bar Foundation's board of directors to the James W. Cooper Fellows Program was featured in the Law360 Pulse article, "Conn. Bar Foundation Elects 22 Attys As Fellows."