Topics discussed this week include
Topics discussed this week include:
On February 21, 2019, the Federal Energy Regulatory Commission (FERC) issued Trailblazer Pipeline Company LLC (“Trailblazer”), FERC’s first order addressing how FERC applies its Revised Income Tax Allowance Policy Statement, as further revised on rehearing (collectively “Revised Policy Statement”), to a pipeline organized as a pass-through partnership that is not a master limited partnership (“MLP”) in a Natural Gas Act (“NGA”) section 4 rate case proceeding. FERC issued the Revised Policy Statement in response to the U.S. Court of Appeals for the D.C. Circuit’s (“D.C. Circuit”) decision in United Airlines, Inc. v. FERC (“United Airlines”), which found that FERC could not permit a specific MLP pipeline to recover an income tax allowance in its rates without further explaining why this did not result in the MLP’s investors “double recovering” their income tax costs, based on a concern that the investors’ pre-tax return on equity (“ROE”) also provided such compensation when calculated using the discounted cash flow (“DCF”) methodology. United Airlines did not consider other types of pass-through entities, such as non-publicly traded partnerships, or alternative methodologies to calculate ROE and the Revised Policy Statement did not address them directly.
On February 12, 2019, U.S. Deputy Secretary of Energy Dan Brouillette and U.S. Ambassador to Germany, Richard Grenell, participated in a German LNG Conference hosted in Berlin by German Federal Minister of Economic Affairs and Energy Peter Altmaier. The group was joined by high-level government and industry leaders, including Executive Director of the International Energy Agency, Dr. Fatih Birol.
Topics discussed this week include:
Thursday, April 25, 2019
Sidley Austin | 1501 K Street N.W. | Washington, D.C. 20005
11:30 a.m. – 12:00 p.m. Registration
12:00 p.m. – 6:30 p.m. Lunch, Program and Networking Reception
Government shut-down, climate change, inverse condemnation, energy & commodity regulation and enforcement – 2019 looks to be a pretty tumultuous year with lots of change.
We will host an in-depth discussion on evolving regulatory, transactional and business issues facing U.S. and international energy and commodities market participants.
As our industry continues adapting to regulatory, credit, and market challenges, we will host notable industry leaders, distinguished government officials, and Sidley attorneys offering timely insights on pressing issues and trends.
This complimentary half-day program in Sidley’s Washington, D.C. office, will feature informative presentations and panel discussions followed by a networking reception.
For more information or questions, please contact dcevents@sidley.com.
In our first enforcement update for 2019, we cover a range of issues (including some news from the end of 2018):
