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Represent an investment bank in a non-public FERC Enforcement investigation of alleged manipulation of electricity markets with respect to the bidding of electric generation into certain RTO markets.
Represent a natural gas trading company and six of its executives and employees in a wide-ranging ongoing FERC enforcement investigation, involving extensive data requests and depositions, of alleged manipulation of natural gas trading in early 2012.
Represent an oil and gas producer in FERC's enforcement investigation regarding the Cheyenne Plains Open Season and in a resulting settlement.
Represent seven major energy trade associations including Edison Electric Institute, American Gas Association, Natural Gas Supply Association, and Electric Power Supply Association in preparing a comprehensive White Paper evaluating FERC’s enforcement initiatives both substantively and procedurally, presenting it to FERC, and paving the way for the implementation of significant reforms to FERC’s enforcement program.
Represent a virtual electricity trader in an on-going non-public FERC investigation of fraud and manipulation with respect to trading virtual electricity products and congestion revenue rights in the California ISO markets. As in other cases, we have responded to extensive data requests from FERC, defended depositions, reviewed documents and prepared position papers evaluating the factual and legal issues.
June 6, 2016, Inside Energy & Environment
California’s Office of Environmental Health Hazard Assessment (OEHHA) recently took a further step toward expanding the scope of state Proposition 65 regulations to out-of-state online retailers that sell into California when it issued an emergency regulation under Proposition 65 for canned and bottled foods and beverages containing bisphenol A (BPA). The ...
March 14, 2016, Law360
November 12, 2014, Law360
Covington's Gary Guzy is quoted on the agreement between the U.S. and China to reduce their greenhouse gas emissions:
"Gary Guzy, senior of counsel at Covington & Burling LLP and former deputy director and general counsel of Obama’s Council on Environmental Quality, said the agreement was "enormously significant."
"There has been significant difficulty in ...
April 24, 2014, Inside Energy & Environment
At a recent speech at an energy industry conference CFTC Commissioner Scott D. O’Malia highlighted energy market participant concerns with the CFTC’s Dodd-Frank Rulemakings. These concerns indicate potential regulatory changes at the CFTC that could impact energy market participants. Commissioner O’Malia noted that the CFTC must re-visit the swap dealer ...
March 6, 2014, Inside Energy & Environment
Earlier this year, the CFTC and FERC announced an information sharing Memorandum of Understanding (MOU) between the two agencies. The agencies have now announced that they have begun sharing market data pursuant to this MOU. In addition, they have created an Interagency Surveillance and Data Analytics Working Group “to coordinate information sharing between the ...
January 16, 2014, Inside Energy & Environment
Norman Bay, Director of FERC’s Office of Enforcement, testified yesterday before the Senate Subcommittee on Financial Institutions and Consumer Protection regarding regulations for financial holding companies and physical commodities. In prepared remarks, Mr. Bay stated that FERC has the “tools necessary to effectively police FERC-regulated markets” but ...
January 6, 2014, Inside Energy & Environment
Here at Inside Energy & Environment we are honored to share that Law360 has named Covington’s energy practice as a 2013 “Energy Practice Group of the Year.” In giving this award, Law360 recognized the breadth of Covington’s practice capabilities (including litigation, transactions, regulatory and government policy) in both the traditional energy and clean ...
January 3, 2014, Inside Energy & Environment
On January 2, 2014, the Federal Energy Regulatory Commission (FERC) and the Commodity Futures Trading Commission (CFTC) entered into two Memoranda of Understanding (the MOUs) to set forth procedures to address circumstances of overlapping jurisdiction (the Jurisdiction MOU) and to share information in connection with market surveillance and investigations into ...
December 30, 2013, Inside Energy & Environment
Barclays Bank and four of its traders (collectively, “Barclays”) moved on December 16, 2013 to dismiss charges of market manipulation brought by FERC’s Office of Enforcement. FERC’s complaint seeks to affirm a combined $488 million in civil penalties and disgorgement in federal court for the Eastern District of California based on its claim that Barclays … ...
December 10, 2013, Inside Energy & Environment
FERC on December 2 filed two suits in the District of Massachusetts to affirm orders alleging market manipulation in the ISO New England demand response market in 2007 and 2008. In the first case (docket number 13-13054), the Commission seeks to affirm its August 29, 2013 order finding that Competitive Energy Services (CES), an energy … Continue Reading