On December 7, 2010, AGL Resources Inc. (“AGL”) and Nicor Inc. (“Nicor”) announced that Nicor will merge with an AGL subsidiary to form one of the largest natural gas distribution companies in the United States.
Business Developments
CFTC Will Not Give Bilateral Exempt Commodity Swaps Grandfathered Relief From Dodd-Frank Act
By Troutman Pepper Locke on
Posted in Uncategorized
On Friday, September 10, 2010, the Commodity Futures Trading Commission (“CFTC”) issued a notice that the agency had decided not to issue a one-year exemption as grandfathered relief for bilateral exempt commodity swaps (“bilateral swaps”) operating under the current exemption pursuant to the Commodity Exchange Act (“CEA”). The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) as implemented, deletes this exemption provision from the CEA as of July 15, 2011, but the Dodd-Frank Act did give the CFTC the discretion to grant grandfather relief to parties.
Procedural Delay Sought for MAPP Transmission Project
By Troutman Pepper Locke on
Posted in Uncategorized
On January 8, 2010, Pepco Holdings Inc. (“Pepco”) asked the Maryland Public Service Commission (“PSC”) to suspend their procedural schedule for the Mid-Atlantic Power Pathway transmission project (“MAPP”).
Alleghany, AEP Delay PATH Line Project
By Troutman Pepper Locke on
Posted in Uncategorized
On December 29, 2009, Alleghany Energy Inc. (“Allegheny”) and American Electric Power Co. (“AEP”) announced that they are suspending the Virginia portion of their 270-mile high-voltage Potomac-Appalachian Transmission Highline project (“PATH Project”).
PJM Approves $1.4 Billion Transmission Upgrade Plan
By Troutman Pepper Locke on
Posted in Uncategorized
On October 15, 2009 the PJM Interconnection (“PJM”) Board approved an additional $1.4 billion in electric transmission grid upgrades and enhancements. This brings PJM’s total investment in their Regional Transmission Expansion Planning (“RTEP”) process since 2000 to $14.7 billion.
Real Estate Investment Trusts May Create Growth For the Grid
By Troutman Pepper Locke on
Posted in Uncategorized
On August 31, 2009, the Climate Change Policy Partnership based at Duke University released a report, Electrical Transmission-Barriers and Policy Solutions, suggesting that real estate investment trusts (“REITs”) could provide the vehicle for creating the capital necessary to expand the national transmission grid in order to meet future electricity demands.
FERC Staff, Amaranth Agree to New Settlement in Enforcement Case
By Troutman Pepper Locke on
Posted in Uncategorized
On July 23, 2009, the Commission’s Enforcement Litigation Staff (“Staff”), Amaranth Advisors LLC (“Amaranth”), and one of Amaranth’s two former gas traders filed a new settlement in its high-profile enforcement case. The Commission previously rejected a settlement submitted by the parties earlier this year (See February 20, 2009 edition of the WER).
Entergy Moves Closer to Joining SPP
By Troutman Pepper Locke on
Posted in Uncategorized
On July 20, 2009, Entergy Services, Inc. (“Entergy”) submitted comments indicating that it will consider becoming a member of the Southwest Power Pool (“SPP”). Entergy’s filing addressed issues raised during the Joint FERC and State Regulator Conference held on June 24, 2009, in Charleston, South Carolina.
FTC to Delay Enforcement of Red Flags Rule until November 1, 2009
By Troutman Pepper Locke on
Posted in Uncategorized
Just announced, the Federal Trade Commission (“FTC”) has suspended enforcement of the Red Flags Rule for a third time, resulting in a new compliance date of November 1, 2009, which is an additional three month delay from the most recent compliance date of August 1, 2009 (see May 1, 2009 edition of the WER).
WAPA May Join LS Power as Partner to 500 kV Idaho-Nevada Line
By Troutman Pepper Locke on
Posted in Uncategorized
On July 16, 2009, the Western Area Power Administration (“WAPA”) and an LS Power affiliate, Great Basin Transmission LLC (“Great Basin”), announced that they have entered into a memorandum of understanding (“MOU”) where WAPA may partner with Great Basin to develop the Southwest Intertie Project (“SWIP”). While the MOU will not affect Great Basin’s current open season for SWIP, a partnership with WAPA could allow construction to start while arrangements for the sale of capacity to third-party shippers are being negotiated.