LAW2503

The regulation of the energy industry in the United States is complex, broad and enforced by a variety of federal and state governmental entities. Further, it is continually evolving in response to global and national events, market shifts, political dynamics and priorities, and technological advances, including economic liberalization and open access policies, tightening environmental regulation and the need to transition the electric power industry and other parts of the energy industry consistent with decarbonization goals. Multiple federal and state agencies, departments and other governmental entities regulate energy development, and the ownership, control and operation of electric energy, natural gas and oil production, transmission/transportation and distribution of energy resources, including with respect to the rates, terms and conditions of wholesale and retail services, as well as energy market rules. This course will provide an introduction to energy law, regulation and policy in the United States with a focus on the electric power and natural gas industries. With respect to the electric power industry, the course will cover federal and state laws, regulations and policies regarding the generation, transmission and distribution, and wholesale and retail sales of electric energy, capacity and ancillary services. With respect to the natural gas industry, the course will cover federal and state laws, regulations, and policies as relates to the transportation, storage and distribution, and wholesale and retail sales of natural gas, with a focus on open access policies in the natural gas industry that served as the foundation for open access policies in the electric power industry. The course will also provide an overview of recent developments of importance in these industries, with a focus on the ongoing clean energy transition, especially as related to the electric power industry. The first part of the course will focus on the theory and practice of utility regulation and its evolution from common law to administrative regulation. The second part of the course will briefly cover the natural gas industry with a focus on the development of open access transportation and competitive supply beginning in the 1990s and more recent developments relating to the shale gas revolution. The third part of the course will cover the electricity industry with a focus on the development of open access transmission and competitive wholesale markets and related developments in retail markets. The fourth part of the course will cover the clean energy transition with a focus on clean energy and clean energy enabling technologies, including distributed energy technologies, products, and services, as well as efforts related to the clean energy transition and decarbonization efforts. Elements used in grading: attendance, class participation, periodic quizzes on assigned readings, and a final class writing assignment.