Recently, the U.S. Court of Appeals for the District of Columbia Circuit rejected Southern California Edison’s challenge to the Federal Energy Regulatory Commission's methodology for determining a company’s base return on equity. One noteworthy lesson from the case is that this method can have a material affect on the ROE, with a large revenue impact, say attorneys with Day Pitney LLP.
The outcome of High Prairie LLC v. Enbridge Energy LP turned out to be a disappointment for industry watchers hoping for a definitive ruling on whether the Federal Energy Regulatory Commission would break with well-established precedent and require an interstate oil pipeline to interconnect with another pipeline, say attorneys with Bracewell & Giuliani LLP.
The pros of using predictive coding far outweigh the cons. Given the heavy pressure on law firms and in-house counsel to reduce discovery costs, as well as the Justice Department's recent stance on the subject, it appears predictive coding will continue to emerge from the obscure world of legal technology to the mainstream of legal practice, say Michael Moscato and Myles Bartley of Curtis Mallet-Prevost Colt & Mosle LLP.
The interpretation by the Supreme Court of Texas in Reeder v. Wood County Energy LLC grants vast protection to oil and gas operators, but by doing so, it is perceived by some as muddling the differences between tort and contract law, says Michael Bolton and Kate Kalanick of Faegre Baker Daniels LLP.
Although there are benefits to “going green” in the construction, development and operation of buildings, there are also risks unique to green building that will test the boundaries of coverage under typical liability insurance policies, say attorneys with Sedgwick LLP.
The Fourth Circuit recently issued a ruling in PCS Nitrogen Inc. v. Ashley II of Charleston that may limit the availability of the bona fide prospective purchaser defense. By narrowly construing one of the elements of the BFPP defense, the court has underscored the importance of strict compliance with all requirements of the defense, say attorneys with K&L Gates LLP.
Public-private partnerships have been used in a wide range of sectors to provide public services, from power plants and railroads to hospitals and sanitation plants. Yet there are a variety of potential contractual arrangements and the financing of a PPP can be complex, say Maryam Khosharay and Herbert Glaser of Haynes and Boone LLP.
Recently, the U.S. Environmental Protection Agency announced proposed technology-based effluent limitation guidelines and standards for steam electric power-generating units. These guidelines will certainly impose significant costs, and when coupled with the cost of the EPA’s rules under the Clean Air Act, there can be little question that some coal-fired facilities will close as a result, say attorneys with Latham & Watkins LLP.
While the recently introduced bill permitting renewable energy projects to use a master limited partnership structure seems like good policy, there is concern that opening the MLP franchise to projects without a strong track record of producing steady cash flows could result in failed projects and cast a pall over the entire investment category, say attorneys with Sidley Austin LLP.
Recently, a New York appellate court upheld lower court decisions in Norse Energy Corp. USA v. Town of Dryden and Cooperstown Holstein Corp. v. Town of Middlefield, which found municipal bans on natural gas development to be a valid exercise of home rule. There are a number of reasons, however, that the court should have instead overturned these decisions, says Yvonne Hennessey of Hiscock & Barclay LLP.