Sidley Energy Blog

This week’s enforcement update covers:

FERC files opposition to Powhatan and Chen motion to dismiss amended complaint;
Judge denies CFTC motion to compel based on agreement of parties;
FERC extends deadline for comments in grid resilience proceeding to May 9;
Supreme Court extends time for government to respond to TOTAL;
Sidley and The Brattle Group to host webinar on FERC energy storage order; and
Sidley’s Ken Irvin moderates PLI program on FERC enforcement.

CFTC, FERC, ISO, RTO

Sidley Environmental Trends

Mar 28 2018

Environmental Trends Contributors

Topics discussed this week include:

Administrator Pruitt releases new source review guidance memo, clarifying when emissions decreases are to be considered in the review process.
California federal judge orders remand to state court of climate-change-related state tort claims — creating split in district court.
Congress’s omnibus spending bill preserves the EPA budget and addresses other environmental issues such as pesticide funding and biomass emissions.
DC Circuit upholds Cross-State Air Pollution Rule as part of EPA’s regional haze rule.

General

English Court Rules on 2002 ISDA Master Close Out Provisions

Mar 27 2018

Simon Fawell, John McGrath and Matthew Dening

The English court of first instance has provided important guidance on the close-out provisions under the 2002 ISDA Master Agreement. Particular findings of note which will be of interest to all users of the 2002 form where English law is selected are:

The determining party must use objectively reasonable processes and must also reach an objectively reasonable result when making close-out calculations under the 2002 ISDA Master. This contrasts with the 1992 ISDA Master, where the English courts have found the more subjective standard of “rationality” applies.
Although the 2002 ISDA Master permits the use of indicative quotations, it is not commercially reasonable for a determining party to rely on them when it proposes to enter into a replacement transaction shortly afterward.
Once a party has submitted a calculation following termination, it is not open to that party to withdraw and replace it. However, the court may take into account revised calculations when determining what range of results a calculation in line with the ISDA Master would have arrived at.
The judge was unwilling to accept mark-to-market valuations or modeled evaluations as evidence for the price at which a replacement transaction would have been available in the market where they differed from actual quotations obtained from leading dealers in the market at the relevant time.

Close-Out, Energy, ISDA, Power

Sidley Environmental Trends

Mar 14 2018

Environmental Trends Contributors

Topics discussed this week include:

U.S. Court of Appeals sides with industry on definition of solid waste rule.
Climate change nuisance suit to remain in federal court.
Mandamus denied in climate change litigation.
EPA proposes to allow aerosol can recycling.
EPA dismisses civil rights claim against coal ash landfill.
EPA finalizes selected changes to fugitive emission requirements for oil and natural gas sector.
Bisphenol A has minimal health effects, FDA says.
Court blocks Prop 65 labeling for glyphosate on free speech grounds.

General

Energy Enforcement Update

Mar 05 2018

Kenneth Irvin, Terence Healey, Christopher Polito and Sharon Rose

This week’s enforcement update covers:

Powhatan and Chen file motion to dismiss FERC’s amended complaint;
FERC and Silkman/CES file motions for summary judgment regarding statute of limitations;
FERC Staff finds no withholding of pipeline capacity in New England markets;
BP files reply to FERC answer regarding on statute of limitations; and
FERC and ETRACOM stay discovery pending mediation.

ETRACOM, FERC

Sidley Environmental Trends

Mar 01 2018

Environmental Trends Contributors

Topics discussed this week include:

Waters of the United States challenges proceed in district courts.
Court dismisses challenge to “two-for-one” executive order.
BLM proposes significant revisions to gas venting and flaring rule.
Court preliminarily enjoins BLM methane suspension rule.
EPA seeks comment on Clean Water Act discharges via groundwater.
Environmental groups challenge offshore general discharge permits.
EPA looks to settle renewable fuel standards suit.
Environmental groups challenge Louisiana regional haze plan.
Court ruled that EPA unlawfully extended deadline for formaldehyde rule.
White House legislative outline attempts to speed infrastructure construction.
Supreme Court denies certiorari for five environmental cases.
Colorado issues new rules for gathering lines.

General

Sidley Environmental Trends

Feb 12 2018

Environmental Trends Contributors

Topics discussed this week include:

DOJ and EPA issue guidance documents with implications for environmental enforcement.
EPA ends “once-in always-in” MACT policy.
EPA delays applicability of WOTUS rule, prompting lawsuits.
EPA issues proposed ROD Amendment for $236 million cleanup of West Lake Landfill Superfund Site.
EPA releases FY 2017 enforcement results.
Ninth Circuit holds that discharges through groundwater to waters of the United States are regulated under the Clean Water Act.
White House infrastructure plan proposes major changes to NEPA permitting process for projects.

General

M	T	W	T	F	S	S
« May
				1	2	3
4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
25	26	27	28	29	30

Energy Enforcement Update

Sidley Environmental Trends

English Court Rules on 2002 ISDA Master Close Out Provisions

Sidley Environmental Trends

Energy Enforcement Update

Sidley Environmental Trends

Sidley Environmental Trends

Contact

Categories

Archives