Akin Gump Strauss Hauer & Feld LLP’s energy regulatory practice represents corporations, investment and private equity funds, electric power, natural gas and oil companies, project developers and financial institutions in project planning, major energy transactions and regulatory litigation.

Our practice is led by G. Philip Nowak who has been named a “Groundbreaking Lawyer” in both mergers and acquisitions and litigation by Public Utilities Fortnightly. In its 2009 Groundbreaking Law and Lawyers Report, the publication released the results of an online survey of in-house counsel at utilities, public utility commissions and trade associations to develop the first-ever hotlist of “Groundbreaking Lawyers” which included just 35 U.S. lawyers practicing in diverse areas ranging from mergers and acquisitions and litigation to renewable energy and clean air compliance.

Energy Transactions

Members of the energy regulatory practice have extensive experience handling all of the regulatory due diligence for, and documentation of, major energy purchase and sale, merger and investment transactions. In addition, they secure all required Federal Energy Regulatory Commission (FERC) and other federal and state regulatory approvals. Among the recent representations of the members of Akin Gump’s energy regulatory practice are the following—

Power

• represented a major electric utility company in its acquisition of and merger with an electric utility with the transaction valued at more than five billion dollars
• represented an energy company in its negotiation of a power purchase agreement valued at more than $200 million with a wind power generation facility
• represented a foreign investment fund in its $1.5 billion purchase of major electric generation facilities in the United States and its ongoing operation of those generation facilities
• represented a lender in connection with a $750 million dollar debt financing and related hedging transactions for the owner of electric generation facilities in the United States
• represented an energy company in its $1.2 billion sale/leaseback of a major electric generation facility
• represented a provider of wholesale power, capacity and ancillary services in its $2.3 billion purchase of a generation portfolio from, and the acquisition of a 50 percent stake in a development joint venture with, a privately held power plant investor
• represented an investment bank in its 144A common stock offering on behalf of a power generation company
• represented an electric utility company in its development of a major high-voltage transmission line and obtained the first order issued by the FERC for incentive rate treatment for the recovery of the company’s investment
• represented various investment and private equity funds in their acquisition of, or interests in, power generation and other infrastructure facilities
• represented an electric utility company in connection with the development, construction and interconnection of one of the first merchant transmission lines in the United States.

Oil and Natural Gas

• obtained on behalf of natural gas pipeline and storage companies, and liquefied natural gas (LNG) companies FERC authorizations to construct and operate major pipeline, storage and LNG facilities
• represented natural gas and oil companies in contract negotiations involving gas purchase and sales, and gas and oil transportation agreements
• provided legal counsel to underwriters in securities issuances and debt offerings by natural gas and oil companies regarding FERC regulatory risks
• represented an interstate pipeline in all aspects of construction approval for a pipeline lateral, including environmental compliance
• served as regulatory counsel for a major natural gas storage field constructed near Katy, Texas
• counseled interstate and intrastate pipelines on regulatory compliance on a variety of NGPA section 311 issues related to transportation, storage, and parking and lending matters
• counseled oil pipelines and shippers on Interstate Commerce Act matters.

Energy Litigation

Members of Akin Gump’s energy regulatory practice are experienced litigators who represent clients before the FERC and in the federal and state courts. They represent corporate, investment and private equity fund, electric utility company and natural gas clients in litigated proceedings involving all aspects of the restructuring and operation of the electric energy and natural gas industries, as well as on matters of concern to particular clients. Among the major regulatory litigation matters handled by members of Akin Gump’s energy regulatory practice are the following—

• represented an electric utility company in FERC Federal Power Act (FPA) section 206 complaint proceedings involving a multi-million dollar dispute between the Midwest Independent Transmission System Operator, Inc. (Midwest ISO) and PJM Interconnection L.L.C. (PJM)
• represented an electric utility company in a FERC petition for declaratory order proceeding involving the FERC’s exclusive jurisdiction over wholesale sales of electric energy in interstate commerce
• represented an electric utility company in a FERC FPA section 206 complaint proceeding and related petition for declaratory order proceeding involving the terms and conditions of withdrawal from the Midwest ISO
• obtained a FERC order in a FPA section 206 complaint proceeding for an electric utility company denying its supplier’s claim for more than $15 million in connection with the supplier’s sale of wholesale power to the company
• represented an electric utility company in FERC proceedings involving the elimination of transmission rates for service between the Midwest ISO and PJM
• represented an electric utility company in FERC proceedings involving the establishment of the forward capacity market (FCM) in New England
• represented an electric utility company in connection with a joint FPA section 205 application for FERC authorization of a common base return on equity and rate incentives for participation in a regional transmission organization (RTO) and for new transmission investment, and federal appellate review of the FERC order
• represented an energy company in FERC proceedings involving the establishment of transmission rates for service within and between the Midwest ISO and PJM
• represented utilities in the litigation of FPA section 203 merger and acquisition proceedings at the FERC
• represented natural gas companies in contested FERC proceedings for authorization to construct, own, and operate pipeline and LNG terminal facilities.

Akin Gump’s energy regulatory practice represents and advises clients on an ongoing basis in connection with legislative and regulatory developments affecting the electric power, natural gas and oil industries. Members of the practice have participated in the development of electric energy, capacity and ancillary services markets, as well as region-wide and individual utility open access transmission tariffs, and continue to advise and represent clients in connection with matters involving those markets and tariffs, including compliance with the FERC’s standards of conduct, code of conduct and affiliate transactions regulations.

Members of the energy regulatory practice represent clients in the negotiation of power supply agreements, generation and transmission interconnection agreements, electric energy transmission service agreements, tolling agreements, energy management agreements, natural gas purchase and sales agreements and gas and oil transportation agreements. They have been involved in the development—and continue to advise clients regarding the ongoing operation—of independent system operators (ISO) and regional transmission organizations (RTO), including ISO New England Inc., PJM and the Midwest ISO.