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Paul Forrester is a respected corporate finance and securities lawyer whose practice is especially focused on structured credit, including collateralized loan obligations, energy (including oil and gas, utilities, shipping, refinery and pipeline) financings and project development, and financing (especially concerning renewable energy, industrial, petrochemical, power and transportation projects and infrastructure).

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On June 17, 2021, the United States Federal Energy Regulatory Commission (FERC) issued an order establishing a new Joint Federal-State Task Force on Electric Transmission, calling for nominations for state commission representation on it, setting forth preliminary details of it and identifying topics for it to consider. The Legal Update at the link below provides

On June 9, 2021, North Carolina Governor Roy Cooper issued Executive Order 218, which targets 2.8 GW of offshore wind by 2030 and 8 GW by 2040 and anticipates the creation of 600,000 related jobs and an annual contribution to North Carolina’s economy of $70 billion. The Legal Update at the link below provides details

In the aftermath of Winter Storm Uri and the market turmoil that ensued, legislation that contemplates using securitization to potentially fund related economic damages and other dislocation has been proposed in both Texas and Oklahoma; however, in many cases, the proposed legislation does not contemplate critical requirements under the applicable rating agency methodologies. The Legal

On April 21, 2021, the European Commission adopted a comprehensive package of measures to help improve the flow of money toward sustainable activities across the European Union.

The measures adopted include:

The EU Taxonomy Climate Delegated Act, which aims to support sustainable investment by making it clearer which economic activities most contribute to meeting the

The Polar Vortex 2021 Fallout continues to be in the news in Texas.  In the Legal Update below you will see the most recent developments.

https://connect.mayerbrown.com/391/8308/compose-email/more-polar-vortex-2021-fallout–2nd-puct-commr.-resigns–lt.-gov.-calls-on-puct-or-ercot-to–fix–$16b–error-.asp?sid=blankform

 

In the now obviously challenged Electric Reliability Council of Texas (ERCOT) power market, a strange dance recently occurred. On February 21, 2021, the Public Utility Commission of Texas (PUCT), which oversees ERCOT, issued an order authorizing ERCOT to use its sole discretion in taking actions under the ERCOT Nodal Protocols to resolve financial obligations between

On February 22, 2021, the United States Federal Energy Regulatory Commission (FERC) announced its intention to open a new proceeding to examine the threat that climate change and extreme weather events pose to electric reliability. The proceeding will examine how grid operators prepare for and respond to extreme weather events, including, but not limited to,

Over 1,000 firms have made either indicative or concrete pledges to align their greenhouse gas emissions with the Paris Agreement—which means reducing emissions to zero by 2050. For many firms, achieving this aim will require the use of carbon offsets at some point. On January 27, 2021, the Taskforce on Scaling Voluntary Carbon Markets published

The inauguration of the Biden administration will bring a plethora of policy changes focused on US electric power production, fuel, and climate change mitigation and remediation. The Biden administration’s Climate Executive Order, discussed further in this Legal Update, declares the intention to “reduce greenhouse gas emissions” and “bolster resilience to the impacts of climate change.”

On January 20, 2021, US President Joseph Biden signed a series of executive orders, including one titled “Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis.” This executive order contains a series of directives to federal agencies and departments that will significantly impact the energy sector and signals the high