Private letter rulings by the IRS are typically not public affairs. Yet, one recent decision is capturing the legal community’s attention. The matter at hand relates to the treatment of Accumulated Deferred Income Taxes (ADIT) connected to properties subjected to ‘condemnation’. In this specific ruling, the IRS concluded that condemnation of public utility property signifies…
With a goal to enhance safety measures in the burgeoning battery energy storage (BESS) sector, California has adopted a new law – Senate Bill 38. First signed off in early October by the state’s governor, the legislation amends Section 761.3 of the California Public Utilities Code to curb safety concerns tied to the expanding BESS…
The Federal Energy Regulatory Commission (FERC) is set to host its next open meeting on Thursday, October 19, 2023, indicating several significant items to be acted upon. According to the FERC’s Sunshine Notice agenda, these prominent items are majorly associated with the electricity industry. Among the notable topics, FERC plans to act on is a…
In a recent development in Illinois, Attorney General Kwame Raoul has filed a lawsuit against Residents Energy, LLC, claiming that the alternative retail electric supplier committed a severe breach of both the Illinois Consumer Fraud and Deceptive Business Practices Act and the Illinois Telephone Solicitations Act. The crux of the issue lies with the allegation…
In the world of coastal restoration and adaptation strategies, the Nantucket coast is a rugged and raw model of legal and environmental dynamics that unfold when nature clashes with human-made obstruction. This narrative dates back to over a year ago when a Massachusetts Superior Court Judge ordered the Sconset Beach Preservation Fund to comply with…
In a case of first impression, a US district court judge recently ruled that the acquisition of three New Orleans-area hospitals by Louisiana Children’s Medical Center from HCA Healthcare, Inc. was free from both the federal antitrust laws and the Hart-Scott-Rodino (HSR) Act premerger notification and filing requirements pursuant to the state action doctrine. The…
Under a new benchmarking program initiated by the New Jersey Board of Public Utilities (BPU), beginning October 1, 2023, reporting energy and water use will soon be a requirement for substantial commercial property owners. All owners or operators of commercial properties over 25,000 square feet in New Jersey will need to log their energy and…
On September 6, 2023, the Federal Energy Regulatory Commission (FERC) addressed arguments raised upon the rehearing of its May 4 Order. The original order found that Kimball Wind, LLC was not entitled to reimbursement for funds it had paid to the Western Area Power Administration (WAPA) for expansion of WAPA’s Kimball Substation. This station is…
The Federal Energy Regulatory Commission (FERC) issued an order on July 3, affirming its increased scrutiny of the ties between investors and public utilities. Of particular concern are the investors who exert control over these utilities through their representation on company boards, or the boards of companies that hold interests in these utilities. This order…