With apologies to Dr. Seuss.
Joel deJesus has been practicing energy law for over twenty-five years both as an outside counsel and in various in house positions. He is currently a partner at Dinsmore & Shohl, LLP, where he provides regulatory advice and representation to companies on a wide variety of FERC matters. Joel was actively involved in the rulemaking proceedings to implement EPAct, and has also provided regulatory support on energy transactions such as asset sales.
Carmen Gentile, a former president of the Federal Energy Bar Association and a partner of Joel deJesus for five years, has been practicing energy law before the FERC and the U.S. Courts of Appeals since 1971. He has supervised the submission of numerous Section 203 applications on behalf of public utilities and financial entities for a variety of asset and securities transactions, including in 2015 several requests for FERC approval for the merger of facilities under Section 203(a)(1(B). He currently is affiliated with Mogel & Sweet LLP, and is practicing law as Carmen L. Gentile, PLLC.
In 2005, Congress amended Section 203 of the Federal Power Act, both to expand FERC's oversight over mergers and acquisitions, and to streamline that oversight by eliminating consideration of small-dollar transactions. Yet, FERC interpreted Section 203(a)(1)(B) to apply to any merger or consolidation, of any jurisdictional facilities, even those with de minimis financial value.
This reading of Section 203(a)(1)(B) has raised questions about whether FERC and industry resources are being used efficiently to protect the public interest. Much of those resources seem instead to be expended on matters that were once considered, and arguably should continue to be considered, de minimis.
I. My goodness how the time has flewn. How did it get so late so soon?
The Energy Policy Act of 2005, EPAct, was signed into law on August 8, 2005. Section 1289 of Title XII, Subtitle G, amended Section 203 of the Federal Power Act.
Prior to EPAct, the first sentence of Section 203 provided: