2022 Sidley Energy Enforcement Update

This Sidley Energy Enforcement update covers:

  • Federal Energy Regulatory Commission (FERC) approves settlement between Enforcement staff and Coaltrain
  • Both FERC and Commodity Futures Trading Commission (CFTC) enforcement reports highlight the respective agency’s continued commitment to strong enforcement
  • U.S. Court of Appeals for the Fifth Circuit upholds FERC’s finding that BP manipulated the natural gas market but remands to FERC to recalculate its $20 million penalty
  • CFTC orders Glencore to pay a record-setting penalty of $1.186 billion
  • CFTC and Securities and Exchange Commission (SEC) orders over $1.8 billion in fines against 11 firms for recordkeeping failure — employees using unapproved method of communications such as texts and WhatsApp on personal devices


Sidley Energy Enforcement Update

This Sidley Update addresses the following:

  • District court judge finds that FERC may not pursue joint and several liability and disgorgement in Coaltrain case – FERC seeks interlocutory appeal.
  • FERC Report on Enforcement highlights increased enforcement activity in 2021.
  • FERC approves settlement between Enforcement staff and Golden Spread.
  • FERC orders penalties against GreenHat Energy, LLC and individuals.
  • DOJ and CFTC charge Puerto Rico resident and his firm for misappropriation of nonpublic information and fictitious trading.


FERC Opens Inquiry on Improvements to Electric Transmission Incentives Policy

On March 21, 2019, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued a notice of inquiry (“NOI”) in which the Commission addresses possible improvements to its electric transmission incentives policy.  The NOI requests stakeholder comment on a wide range of issues related to the Commission’s current transmission incentives policies. FERC Chairman Neil Chatterjee said, “as I announced in November, I believe these policies are overdue for a fresh look with input from all stakeholders, not just those that happen to be parties to a pending complaint proceeding.”  The NOI was published in the Federal Register on March 28, 2019.  Comments on the NOI are due on June 25, 2019 and Reply Comments are due on July 25, 2019.