On January 11, 2012, the Commodities Futures Trading Commission (“CFTC”) issued a notice of proposed rulemaking to implement the “Volcker Rule” requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  Under the proposed rule, banks would be banned from trading on their own accounts, and would be allowed to make only limited investments in private-equity and hedge fund groups.  [Read more →]

On January 5, 2012, the White House launched an initiative to enhance the security and reliability of the nation’s electrical grid.  The initiative is known as the Electric Sector Cyber-Security Risk Management Maturity Project.  [Read more →]

The Environmental Protection Agency (“EPA”) provided the electric utility industry with an early Christmas gift last year.  On December 21, 2011, EPA issued its “UMACT” rule, setting forth maximum achievable control technology (“MACT”) standards for coal and oil generating stations. Troutman Sanders has prepared a memorandum summarizing the rule here.  The rule can be appealed 60 days after publication in the Federal Register.  We expect publication in the Federal Register at some point during January 2012. [Read more →]

On January 3, 2012, President Obama signed the Pipeline Safety, Regulatory Certainty and Job Creation Act of 2011 (“Pipeline Safety Act” or the “Act”) into law.  This Act marks the culmination of bipartisan efforts in the House and the Senate to examine and improve the state of pipeline safety regulation. The Act gives enhanced safety review authority to the Department of Transportation (“DOT”). [Read more →]

On December 29, 2011, the Federal Energy Regulatory Commission (“FERC or Commission”) issued an order clarifying its policy regarding amendments to pending Federal Power Act (“FPA”) Section 205 rate schedule filings, tariff filings, or service agreement filings. Mississippi Power Company, 137 FERC ¶ 61,241 (2011)  [Read more →]