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Drawing on over 39 years of experience in the energy industry, Bud Earley, a non-lawyer senior advisor, provides analysis and advice on a wide range of federal and state energy regulatory issues, including transaction and rate issues, regional transmission organization (RTO) tariffs and rules, interconnection, retail choice and demand response for electricity customers, a natural gas pipelines and hydroelectric facility licenses, and LNG export authorizations.
Working with Covington teams, Mr. Earley has provided advice and analysis to investment firms, utilities, independent power producers, project developers, customers, marketers and U.S. and international energy companies,
Prior to joining Covington, Mr. Earley served for over 30 years in various staff positions at the Federal Energy Regulatory Commission (FERC). While at the FERC, Mr. Earley was instrumental in developing and applying policies regarding the transition of the electric utility industry to competition, including policies regarding independent power producers, transmission access, standard generator interconnection procedures, organized electricity markets, mergers and market-based rates.
- For a major U.S. utility, secured favorable rulings from FERC regarding rate incentives for major transmission projects, market-based rate authority for its generation assets and a declaratory order regarding an underwater transmission project.
- For a major U.S. energy company, advised on securing DOE approval to export LNG and from FERC to construct an LNG terminal.
- For a prominent coalition of major electricity market stakeholders, providing ongoing analyses and other services regarding state and federal regulatory and policy matters related to electricity competition.
- For U.S. investment firms, secured FERC approval of the sale of a generator to a U.S. electric utility, and advised on the Federal Power Act implications of unwinding a series of investments in U.S. transmission and hydroelectric facilities.
- For a prominent Asian investment firm, securing FERC approval of a substantial investment in a U.S. electric utility
- For a U.S. and transmission cooperative, obtained a favorable ruling from FERC on a complaint against a transmission provider for violating its open access tariff, and securing an interconnection agreement for a new generator.
- For potential LNG terminal developers, advised on the regulatory process for securing approvals from DOE and FERC to export LNG and build LNG terminal facilities.
- For a coalition of U.S. electric generating companies, advised on successful federal court challenge of state regulatory interference in FERC-jurisdictional wholesale markets.
- Advised foreign government agency on reforming its electricity market surveillance program.
- For a U.S. generating company, successfully advised on organized market tariffs and business practices in an enforcement investigation regarding alleged market manipulation.
Memberships and Affiliations
- Energy Bar Association
Previous Experience
- Allegheny Energy, Inc., Director of FERC and RTO External Affairs
- FERC, Director of Regional Market Coordination, Office of Markets, Tariffs and Rates
- FERC, Advisor to Commissioner William Massey
- FERC, Director of Electricity Policy, Office of Economic Policy
March 28, 2019, Inside Energy & Environment
Setting the return on equity (ROE) that utility stockholders may earn from providing certain services, primarily electric transmission and pipeline services, is a fundamental aspect of FERC’s cost-of-service regulatory regime.[1] FERC has used the same basic method to determine ROE since the 1980s but recently made some reforms that applied to a few electric ...
March 2019, Pratt's Energy Law Report
February 25, 2019, Inside Energy & Environment
FERC has approved a final rule that sets a $10 million threshold for requiring FERC prior approval of public utility mergers and consolidations and requires public utilities to simply notify FERC of mergers and consolidations with a value over $1 million but less than $10 million. The changes place mergers and consolidations under the same...… Continue Reading
January 7, 2019, Inside Energy & Environment
FERC recently proposed to streamline its market power rules so that generators in markets operated by Regional Transmission Organizations and Independent System Operators would no longer need to demonstrate a lack of horizontal market power in order to charge flexible market-based rates. Instead, FERC will rely on the existing market monitoring and mitigation ...
December 26, 2018, Inside Energy & Environment
DOE’s authorizations to export natural gas, including LNG, from the U.S. impose reporting requirements regarding the destination of the exported gas and certain contracts regarding its supply and sales. DOE recently modified one of those requirements in a significant way and proposed sharper guidelines for complying another to minimize regulatory burdens and ...
December 20, 2018, Inside Energy & Environment
Carbon pricing is seen by many as an effective means of reducing carbon dioxide (CO2) emissions from electricity generation. California and several Eastern states have enacted “cap and trade” emission allowance programs, which have forced generators in those states to pay a price for their CO2 emissions. With the Obama Administration’s Clean Power Plan not...… ...
November 16, 2018, Inside Energy & Environment
A recent amendment to the Federal Power Act (FPA) that will become effective March 27, 2019 sets a $10 million threshold for requiring Federal Energy Regulatory Commission (FERC) prior approval of public utility mergers and consolidations. That amendment also calls for FERC to adopt a rule requiring public utilities to simply notify FERC of mergers...… Continue ...
August 7, 2018, Inside Energy & Environment
The Department of Energy (DOE) recently acted in two separate orders to clear the path for small volume exports of LNG and allay concerns about the durability of its export authorizations. In July, 2018, DOE adopted a rule to streamline its standards and process for approving small-scale LNG exports. In a separate policy statement issued...… Continue Reading
April 30, 2018, Inside Energy & Environment
Taking another step toward a comprehensive policy on the participation of electric storage resources and other distributed electric resources (DERs) in wholesale markets run by independent grid operators, FERC has requested additional comments on its proposal regarding aggregating DERs and their potential effects on the bulk power system. FERC’s request follows ...
April 25, 2018, Inside Energy & Environment
Under the Natural Gas Act (NGA), FERC certificates the construction and operation of pipelines to transport natural gas in interstate commerce if they are “required by the present or future public convenience and necessity.” For almost two decades, FERC has used a 1999 policy statement’s guidelines to evaluate whether new pipelines meet that statutory ...
April 6, 2018, Inside Energy & Environment
In its recent landmark Order No. 841, FERC directed Regional Transmission Organizations (RTOs) and Independent System Operators (ISOs) to remove barriers to participation by electric storage resources in their wholesale electricity markets. The expectation is that each RTO/ISO will adopt rules that recognize and compensate physical and operational ...
Too Much of a Good Thing? An Illustrated Guide to Solar Curtailment on California’s Grid
April 3, 2017, Green Tech Media
Bud Earley is quoted in a Green Tech Media article examining how California is managing oversupply of solar power. According to Earley, wind generators are not curtailing because they “generally receive -- in addition to market revenues -- production tax credits, renewable energy credits, and contractual energy payments, which amount to about $130/MWh for the ...
April 2017, Pratt's Energy Law Report
The Federal Energy Regulatory Commission issued a Policy Statement clarifying the flexibility electric storage resources have regarding rate designs to recover their costs. Wilbur ("Bud") Earley discusses these policies and rules, which are of interest to storage operators and investors, grid managers, other participants in Regional Transmission Organizations, ...
January 2017, Energy Law Report
March 27, 2015, InsideEnergy&Environment Blog
November 10, 2014, InsideEnergy&Environment Blog
January 22, 2014, Covington E-Alert
September 12, 2013, Covington E-Alert
July 25, 2013, Covington E-Alert
November 20, 2012, Covington E-Alert
October 25, 2012, Covington E-Alert
July 26, 2012, Covington E-Alert
June 29, 2012, Covington E-Alert
May 23, 2012, Covington E-Alert
April 26, 2012, Covington E-Alert
February 29, 2012, Covington E-Alert
November 22, 2011, Covington E-Alert
July 12, 2011, Covington E-Alert
FERC Begins Review of Transmission Investment Incentives, Possibly Signaling a Change in Policy
May 31, 2011, Covington E-Alert
FERC Approves Rules to Improve Compensation to Demand Response in Organized Electricity Markets
April 1, 2011, Covington E-Alert
FERC Opens Inquiry on Revising Market Power Standards in Light of Revised DOJ/FTC Merger Guidelines
March 31, 2011, Covington E-Alert
February 25, 2011, Covington E-Alert
January 11, 2011, Covington E-Alert
December 1, 2010, Covington E-Alert
December 1, 2010, Covington E-Alert
November 1, 2010, Covington E-Alert
October 29, 2010, Covington E-Alert
October 18, 2010, Covington E-Alert
July 29, 2010, Covington E-Alert
June 28, 2010, Covington E-Alert
June 18, 2010, Covington E-Alert
April 1, 2010, Covington E-Alert
March 29, 2010, Covington E-Alert
December 10, 2009, Covington E-Alert
November 5, 2009, Covington E-Alert
September 24, 2009, Covington E-Alert
August 7, 2009, Covington E-Alert
July 24, 2009, Covington E-Alert
July 22, 2009, Covington E-Alert
May 7, 2009, Covington E-Alert
April 29, 2009, Covington E-Alert
December 2, 2008, Covington E-Alert
FERC Acts on Enforcement Compliance Policy, Standards of Conduct and Organized Electricity Markets
October 27, 2008, Covington E-Alert
September 24, 2008, Covington E-Alert
June 26, 2008, Covington E-Alert