This seminar will address the basic principles of Federal economic regulation of energy production, transportation, and delivery. Energy drives the economy, and the substantial investment required to produce, refine, transport, and deliver energy brings with it significant government regulation. The starting point is an understanding of the physical aspects of energy—the different sources of energy and the practical aspects of extraction, refining, transportation, and delivery to users—and the application of economics and antitrust law to understand the rationale for extensive Federal regulation of interstate transmission of energy.

The seminar will consider early steps to regulate private industry for the public good, the principles of economic regulation (such as dealing with natural monopolies, requiring certificates or permits for energy facilities, balancing the need for industry to attract capital with rate-payer protection through cost-of-service ratemaking, assuring “just and reasonable” rates and terms and conditions of service, preventing undue discrimination, relying on competitive market forces as a substitute for regulation), and initiatives to unbundle energy transactions and place greater reliance on market forces (partial deregulation). The principal Federal agency in this respect is the Federal Energy Regulatory Commission, but the Department of Energy, the Commodities Futures Trading Commission, and the Environmental Protection Agency also have significant roles.

Energy law offers many paths to the successful practice of law. Traditional economic regulation involved representing utilities or pipelines before Federal or state agencies but, with the vast changes that have occurred over the past two decades, there are significant opportunities to apply energy law expertise in many different settings, including regulatory, transactional, financial, and environmental practices.

Additional Information:
Credit Hours: 1
Grading Option: Letter Grade Only
Graduation Writing Requirement: No
Flexible/Upper-Level Writing Requirement: No
Skills Requirement: No
Simulation Course: No
Experiential Learning: No
Seminar: No
Special Withdrawal Course: No
Final Exam Given: No
Paper Or In-Class Presentation: Paper Required
Attendance Policy: Per Statement Of Student Policies

* The law school has a policy that is used to calculate credit hours. Please see the Statement of Student Policies.