FERC's nominees to restore its quorum, as discussed in Inside FERC, have been highlighted by Chip Cannon's comments
The energy sector is keeping a close eye on the Federal Energy Regulatory Commission (FERC), as the body is expected to regain a quorum of commissioners following President Trump's nominations. However, the timeline for Senate action on the nominees is still uncertain, according to a recent Inside FERC article titled "Trump formally nominates Chatterjee, Powelson; Senate timing still uncertain."
The nominees, who are known figures in the energy sector, have yet to undergo their Senate confirmation hearings. Once confirmed, they will join the commission and help address the backlog of orders that have been piling up. Chip Cannon, a partner at Gump energy regulation, markets and enforcement, anticipates a return of FERC to full functionality, which is seen as beneficial for the energy industry, providing more certainty for the sector.
Cannon also noted that the commission would have to triage the orders, prioritizing those with statutory requirements. The specific orders that make up the backlog were not detailed in the Inside FERC article. The commission's actions on these orders could impact the timing of energy sector transactions, with some transactions potentially waiting for orders from FERC in order to close. The timeline for FERC to work through its backlog could be lengthy, with some estimates suggesting it could take until autumn or even later to work through.
It's important to note that the Inside FERC article did not specify which nominees for FERC Cannon was referring to in this context, nor did it provide any additional information on the Senate's timeline for confirming the nominees. The source of the information is Inside FERC's article "Trump formally nominates Chatterjee, Powelson; Senate timing still uncertain."
The return of FERC to full functionality is seen as a positive development for the energy industry, as it will help bring more certainty to the sector. The industry will be keeping a close eye on the Senate's confirmation process and the commission's progress in addressing the backlog of orders.
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