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Julia Taylor Rejoins Dentons as Real Estate Partner in Kansas City
Dentons, the global law firm, today announced that Julia Taylor has rejoined the Firm as a partner in the Real Estate practice. In her role, Taylor will clients on a broad range of real estate matters including acquisitions, dispositions, leasing, development, multifamily, construction and financing of retail, office and industrial properties.
Bar Association President Laura Gibson joins Dentons to head Houston Labor and Employment team
The global law firm Dentons today named Houston Bar Association (HBA) president Laura Gibson as partner in the Firm's Litigation and Dispute Resolution practice.
Launch of the South African Marine Research and Exploration Forum
On 29 January 2016, the Department of Science and Technology and the Offshore Petroleum Association of South Africa signed a memorandum of understanding in terms of which the South African Marine Research and Exploration Forum (SAMREF) was established.
Policing Your Trademark — How Far Is Far Enough?
Trademark owners and practitioners must tread a fine line between overly aggressive “bullying” and lax enforcement efforts that may result in consumer confusion, lost profits and goodwill, and claims of abandonment.
TSX and TSXV join regulators in accommodating rights offerings
The rights offering exemption has historically been an underutilized means of raising capital for public issuers. This exemption from the requirement to file a prospectus allows issuers a method of financing whereby existing security holders of the issuer are given the opportunity to acquire additional securities at a discount from the market price.
Starting your career as a student at Dentons exposes you to a world of experience and opportunities
With 125+ locations in 50+ countries, Dentons is home to top-tier talent that is found at the intersection of geography, industry knowledge and substantive legal experience. Working with Dentons, you will have the opportunity to learn from the best lawyers in the industry at the largest law firm in the world.
Global franchising partners contribute to award-winning book
Dentons' global franchising team have contributed to 'The Franchise Book' (Aranzadi /Thomson Reuters), a newly published book providing a multidisciplinary study of franchising as a business model of the century, while offering the reader an account of the experiences of some of the most important franchises.
Dentons US Chief Innovation Officer joins the Economic Innovation Group's Policy Council
The global law firm Dentons announced today that John Fernandez, US Chief Innovation Officer and Global Chair of NextLaw Labs, joined the Economic Innovation Group’s (EIG) newly created Policy Council, an external advisory group comprised of leading experts and practitioners for the think tank based in Washington, DC.
Dentons ranked in the top 100 by Stonewall in their Top 100 Employers 2016
Dentons is pleased to announce that the Firm has been ranked 97 in the Stonewall Top 100 Employers 2016, which ranks employers that are the highest performing organisations in Stonewall's Workplace Equality Index 2016.
On June 2, 2014, the Environmental Protection Agency (EPA) released its Clean Power Program, the cornerstone of the Obama Administration's Climate Change Action Plan, which was announced last year and promised regulatory controls on greenhouse gas emissions from the power sector. EPA's most recent proposal establishes requirements for states to issue "standards of performance" for emissions of carbon dioxide (CO2) from existing fossil fuel electrical generating units (EGUs) under the Clean Air Act (CAA) section 111(d). But the broad name EPA has given to its proposal -- Clean Power Program -- more accurately reflects the sweeping nature and scope of its efforts to help propel the US power sector forward onto a cleaner, less carbon intensive path.
The Clean Power Program follows EPA's proposed New Source Performance Standards for new EGUs under CAA section 111(b) (new unit rule), published in February 2014. But where the new unit rule was clearly intended to drive new plant construction toward coal-fired power with carbon capture and sequestration and natural gas combined cycle generation, the Clean Power Program seeks to promote a wide array of low or zero-carbon options, including further natural gas dispatch, renewable energy, nuclear energy, energy efficiency and demand-side management, and to ensure that these elements are integrated into long-term planning and investment. EPA's broad reach creates legal vulnerabilities for the proposal, but it also creates opportunities for states and for electricity generators to make greater investments in a clean energy future.
The Clean Power Program's goal is to secure 30% CO2 reductions from fossil fuel-fired generation by 2030 based on a 2005 baseline. To get there, EPA sets "goals" -- target carbon intensity rates for each state -- expressed as the average rate of emissions per net megawatt hour (MwH) of electricity across all power plants in that state. EPA develops these goals by taking each state's 2012 power plant emission levels and calculating a reduction target based on the application of four "building blocks" identified, in the aggregate, as the "Best System of Emission Reductions." These are:
Through these calculations, EPA claims that it is taking into account the specific mix of emissions, power sources and resources available in each state, allotting higher targets to states with limited options beyond coal generation while also giving other states with significant renewable programs or climate change policies in place credit for their reductions.
After setting these hard targets, EPA provides states with significant flexibility in developing plans to meet them. The plans are then subject to approval by EPA based on criteria set forth in the proposal. In terms of compliance, state plans must ensure that the targets are met, beginning in 2020. States must demonstrate through decade-long averaging that they meet an interim target from 2020-2029, reporting their progress every two years. States must meet their final target by 2030, and after that date, the targets must be met on a three-year rolling average basis.
As to the substance of those plans, states can apply emission limits directly to affected EGUs, use any of the building blocks in a "portfolio approach," or use any other measure as long as they are enforceable and help meet interim and final targets. States can also create regional programs and submit regional plans. States can even convert their rate-based targets to mass-based targets (tons of CO2 emitted) since that may better enable them to participate in regional trading programs.
Finally, as to timing, states must submit plans within one year of the finalization of the rule, which EPA intends to complete in June 2015. This means states must file plans by June 2016. However, they may seek an additional year or, if they create regional plans, two extra years. States must apply for an exemption and still make interim filings in June 2016. Once a plan is submitted, EPA has a year to review, and once approved, state requirements become federally enforceable.
Upon publication, the proposed rule will be open for a 120-day comment period, twice the time usually allotted other major EPA rules. EPA will be certain to receive millions of comments, as it did on its new unit rule. EPA will also hold four public hearings in several states and in Washington, DC over the summer. EPA plans to finalize the rule by June 2015; after that, it will be surely challenged in court. EPA also plans to issue a final new unit rule before or concurrently with the Clean Power Program, as well as a companion rule setting standards for modified and reconstructed EGUs.
If the Clean Power Program is finalized largely as proposed, it could create major opportunities for clean energy providers and investment in clean energy. This could include spurring further dispatch and construction of new natural gas generation capacity, further development of renewable power, and perhaps a rescue of "at risk" nuclear plants. It would also provide opportunities for utilities and other entities to enhance energy efficiency measures and take a wide range of actions to reduce energy demand well beyond EGUs or the power sector. At the same time, it is likely to lead to additional retirements of coal plants, already buffeted by sustained low gas prices and EPA's air toxics rule.
The proposal has already generated legal and political opposition. Members of Congress immediately attacked the proposal as too costly. Opponents of the regulation are likely to challenge the program in court based, in part, on its very breadth, arguing that section 111(d) in no way authorizes EPA to implement such sweeping regulation of the power sector.
Whether and how the Clean Power Program might eventually impact the power sector may ultimately depend as much on the DC Circuit Court as it does on who is in the White House.
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