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.
On September 11, Beth Barton will serve as the moderator at "Tapping into the Power of Offshore Wind - A Conversation with the Women Making it Happen," a joint meeting of the Connecticut Power and Energy Society (CPES) and New England Women in Energy and the Environment (NEWIEE).
Paul Belval will be co-presenting a webinar, "Developing and Financing Wind Energy Projects: Contract Provisions, Protecting Developer and Landowner Interests," for Strafford.
On June 13, Beth Barton and Harold Blinderman spoke at the Connecticut Business & Industry Association (CBIA) 2019 Energy & Environment Conference in Cromwell, CT.
On June 13, Sebastian Lombardi will be moderating a panel, "Northeast Updates on Tackling Fuel Security," at the 2019 Energy Bar Association (EBA) Northeast Chapter Annual Meeting in Washington, DC.
Alex Judd will be moderating a panel, "Future Cities: Building Projects from the Green Up," at the 2019 New England Energy Conference & Exposition (NEECE), a joint conference of the Northeast Energy and Commerce Association and the Connecticut Power and Energy Society being held at the Mystic Marriott in Groton, CT.
Josh Cohen, chair of Day Pitney's Bankruptcy and Restructuring practice group was quoted extensively in an article, "FERC Rebuke Won't Be Last Word In PG&E Power Deals Fight," published by Law360.
David Doot, Steven Cash and James Blackburn, IV authored an article, "Risk and Opportunity with the Industrial Internet of Things," which was published in the July-August 2019 issue of The Journal of Robotics, Artificial Intelligence & Law.
Day Pitney Press Release
Partners Josh Cohen and Dave Doot were quoted in an analysis article, "PG&E's Ch. 11 Brings Rift With FERC Over Power Deals," published by Law360.
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).