David Applebaum Quoted in Law360 on Possible Lack of Quorum at FERC
Akin Gump energy regulation, markets and enforcement partner David Applebaum has been quoted by Law360 in the article “Chairman’s Hasty Exit Threatens To Cripple FERC,” regarding the upcoming departure of Norman Bay as head of the Federal Energy Regulatory Commission (FERC). The article notes that the move will leave FERC with only two commissioners—an unprecedented situation that will leave it without a quorum and prevent it from taking any major actions that require a vote.
“They can and will advance investigations, and there are matters in federal court the enforcement staff can and will continue to litigate,” said Applebaum, a former investigations director at FERC’s enforcement office. “Each month that goes by where the commission can’t finalize an enforcement case has a negative effect on the enforcement program and market participants.”
Further complicating the situation, the article points out, is that another vacancy will occur in June when the term of Commissioner Colette Honorable expires.
“Right now, people are just more uncertain about what the future brings,” Applebaum said. “If months go by, it can start to be a pretty significant backlog of issues that need to be addressed.”