On July 19, the Federal Energy Regulatory Commission (FERC) issued proposed rule changes to clarify and update its advance approval and reporting requirements for officers and directors who hold positions simultaneously with more than one public utility or with a public utility and certain other specified companies. Regulators refer to these simultaneous positions as "interlocking positions" or "interlocks." Under Section 305 of the Federal Power Act, it is unlawful, absent FERC approval, for a person to hold such interlocks. The FERC has regulations that identify the requirements for obtaining approval for interlocks (Part 45) and for reporting those interlocks (Part 46). In its July 19 Notice of Proposed Rulemaking, the FERC proposed, among other changes:
Comments on the proposed rule changes are due 60 days after their publication in the Federal Register. Following an opportunity to fully consider any comments filed, the FERC will take final action on the proposed rule changes.
The FERC notice should serve as a reminder to energy companies subject to FERC regulations of the need to remain vigilant in ensuring compliance with FERC regulations generally, including the interlock requirements. An effective compliance program helps provide that assurance and reduces the risk of violations. An effective compliance program also can mitigate penalties if violations do occur. If needed, Day Pitney's compliance team can bring to bear for its clients its experiences designing "best practices" compliance programs and procedures and providing compliance assessment, audit and legal services. If you have questions concerning these latest proposed changes in the FERC's rules or energy compliance issues more generally, please contact any of the attorneys listed in the sidebar of this alert.
Day Pitney will host a FERC 101 event, co-sponsored by Connecticut Power & Energy Society and EBA, on November 13 in its Hartford and Washington, DC offices.
On November 13, Day Pitney LLP and FH+H, PLLC, along with PDB FutureCom International, hosted an invitation-only program, "Industrial Internet of Things (IIoT) & America's Critical Energy & Transportation Infrastructure," held at the new International Spy Museum in Washington, D.C.
Sebastian Lombardi will serve on a panel, "State Policies and the Markets: How the tension is playing out in PJM," at the Northeast Energy and Commerce Association's Power Markets Conference on November 8, at the Marriott Courtyard Hotel in Marlborough, MA.
Day Pitney White Paper
On September 27, partner Joseph Fagan will be speaking on a panel, "Policy v. Practical: What can the regional consumers expect from lawmakers, regulators and energy providers?," at the Northeast Energy and Commerce Association's (NECA) annual Fuels Conference in Marlborough, MA.
Day Pitney associate Alexander W. Judd has been elected to serve as Chair of the Energy, Public Utility and Communications Law Section of the Connecticut Bar Association (CBA).
Day Pitney Press Release
Paul Belval will be honored at "Celebrating Leaders for Justice," a dinner and ceremony being presented by the Greater Hartford Legal Aid (GHLA) Foundation.
Joseph Fagan was quoted in an article, "Fuel shippers seek U.S. review of 'excessive' Colonial Pipeline rates," published by Reuters.
Day Pitney and the National Governors Association (NGA) hosted an invitation-only forum, held at the Downtown Harvard Club of Boston, that brought together lawyers, policymakers, cybersecurity experts and other participants to identify and discuss legal issues related to the growing Industrial Internet of Things (IIoT).