The Law Office of David A. Portz PC: General business counsel and a deep energy focus HyperLink    HyperLink    HyperLink
 
         

PRACTICE AREAS


Energy Focus

Clients: PortzPC serves large North American wholesale energy sector participants, natural gas and crude oil E&P segment participants, electricity producers, retail electric providers and utilities located across the U.S. PortzPC also assists full service law firms needing ready commodities expertise, and provides counsel to private equity investors and their business entities regarding energy market activities and compliance. PortzPC has provided short term staffing to help with short term office absences, and longer secondments for rapid development of energy trading document portfolios and other projects, or handling “overflow”.

Commodities: PortzPC expertise covers natural gas, electricity, emissions and renewable energy credits, crude, refined products, NGLs, coal and fuel oil, and financial products hedging price, interest rate and currency risks.

Contracting and Documentation: Transaction expertise covers commodity trading, origination and hedging, gas transportation and storage - drawing on a familiarity with regulatory requirements and compliance, gas transportation and power transmission arrangements and various types of structured transactions, including gas purchases, power off-take and tolling agreements. PortzPC assists clients’ completion of energy commodities master agreements and all related documentation, and provides counsel on formats and contracting and credit practices. Familiar with:

  • Wholesale Power, Gas, Liquids, Coal Crude and Refined Products, and Coal - Marketing and Trading Transactions and Master Agreements, e.g., ISDAs (with the various product and credit annexes and Protocols), EEIs, NAESBs (natural gas and NGLs), WSPP, LEAP Master, Master Coal Agreement, various environmental and emissions templates, and long form confirmation templates)
  • Power Purchase Agreements, Tolling Agreements, Supply Agreements, Energy Management Agreements, requests for proposals (RFPs), ancillary services arrangements, gas and liquids production and processing agreements
  • Credit documentation – Guarantees, letters of credit, security agreements , pledge agreements and other credit support documentation, netting and master netting arrangements, lockbox arrangements, collateral management arrangements. Works closely with clients’ credit risk groups
  • Hedging arrangements for market participants in gas, power, chemicals and E&P sectors, reserve-based borrowers
  • Modifications to trading documentation to adapt to Dodd Frank requirements.
  • Gas transportation & storage, and power transmission arrangements
  • Futures commission merchant contracting
  • Retail power contacting, WIMBEs
  • Environmental products
  • Generation Facilities – Fuel Purchases and Sale of Output, Hedging
  • RTO/ISO relations, compliance
  • Force majeure counsel and trading desk crisis management
  • Services businesses, agency arrangements, sleeves
  • Novations, assignments and terminations of relationships
  • Terminations upon bankruptcy, negotiations in connection with restructurings
  • ERCOT expertise, and familiar with other ISO/RTO structures and products
  • Municipal utilities’ energy market relationships and transactions
  • Due diligence reviews
  • Legal risk memos and transaction analyses, RFOs

Regulatory Input: PortzPC assists energy industry clients in their assessment and implementation of Dodd-Frank-related compliance measures. PortzPC consults on energy trading compliance needs – assessing changes in marketplace and available standards. PortzPC maintains a strong commitment to each client’s compliance record and is vigilant of client reputation risks.

Training: PortzPC conducts training sessions in power, natural gas and ISDA documentation, credit support documentation. PortzPC provides speakers and input on energy trading topics in industry forums, designs in-house training programs and resources. PortzPC coaches on best practices, negotiation positions and strategies.