In an order issued on April 17, the Federal Energy Regulatory Commission (FERC) agreed to defer implementation of certain cybersecurity and operational reliability standards administered by the North American Electric Reliability Corporation (NERC) that had important compliance milestones later this year, including the suite of supply chain risk management standards that have been under development for several years and were set to take effect on July 1. The move by FERC is intended to provide some measure of relief from impending compliance burdens and to allow electric utilities to focus their resources on responding to the coronavirus (COVID-19) pandemic.
Power & Pipes
FERC, CFTC, and State Energy Law Developments
Our labor and employment colleagues have prepared a LawFlash providing our current thinking regarding key issues that employers should begin considering now to minimize difficulties as they reopen or expand current operations.
Nevada became the sixth state to adopt an energy storage procurement goal on March 12. The Public Utilities Commission of Nevada (PUCN) adopted a regulation in Order No. 44671 that establishes biennial energy storage procurement goals of 100 MW by December 31, 2020, and increasing to 1 GW by 2030.
Our colleagues in the investment management practice have prepared a chart that summarizes the available relief provided by the US Securities and Exchange Commission, Financial Industry Regulatory Authority, Commodity Futures Trading Commission, and National Futures Association from certain regulatory requirements.
Read our recent LawFlash discussing the Federal Energy Regulatory Commission’s (FERC) plan to assist regulated entities in managing enforcement- and compliance- related burdens during the ongoing coronavirus (COVID-19) pandemic, particularly FERC plan to exercise prosecutorial discretion regarding events arising during the pandemic.
Although the Coronavirus Aid, Relief, and Economic Security Act signed into law on March 27 does not expressly provide relief for energy companies, many of its provisions impact energy sector companies. Read our recent LawFlash to learn more.
In response to the US president’s declaration of a national emergency due to the coronavirus (COVID-19) pandemic, on March 20 the Pipeline and Hazardous Materials Safety Administration (PHMSA) issued a notice to operators stating that, effective immediately and until further notice or modification, PHMSA does not intend to take any enforcement action with respect to operator qualification (OQ) and control room management (CRM) requirements, and will consider exercising enforcement discretion regarding certain drug testing requirements.
Our colleagues have prepared a LawFlash addressing the US Securities and Exchange Commission’s March 25 extension of certain filing periods and current views regarding disclosure considerations due to the coronavirus (COVID-19) crisis.
Read our recent LawFlash regarding current modifications to enable state and local agencies in California to continue making decisions during the pandemic, while preserving opportunities for public involvement by teleconference or electronic means.
Read our recent LawFlash detailing the criteria for essential critical infrastructure workers in the electricity, petroleum, and natural gas and propane industries, including the vendors and service providers to the energy industry, and consider whether to provide letters or notices identifying key personnel as essential critical infrastructure workers.