The August 21, 2012 decision of the U.S. Court of Appeals for the D.C. Circuit to vacate EPA's Cross-State Air Pollution Rule marks a material interpretation of EPA's authority under the Clean Air Act - an "unsettling" departure from judicial restraint (according to the dissent). To consider what this means for power producers and other energy market participants, Cadwalader held a teleconference discussion on Tuesday, September 4 about the implications of this important decision.
Hosted by Cadwalader bankruptcy partner George Davis, this conference featured energy partner Ken Irvin, who discussed the court's decision and its impact on energy markets and generators, and litigation partner David Williams, who discussed the different appellate review options available to EPA.
The call also featured guest speakers Lee Van Atta and Ronald Moe of SAIC and Matthew Mazzucchi of Houlihan Lokey, who addressed the impact vacating CSAPR has on earnings and capital expenditures of generators, which still face material costs for compliance with a gauntlet of EPA regulation, including: Mercury and Air Toxics Standards (MATS or Utility MACT), proposed Cooling Water Intake Structures regulation, proposed disposal of Coal Combustion Residuals regulation, and proposed Greenhouse Gas regulations.
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