How investment treaties can provide leverage in disputes with governments under production-sharing contracts | Allen & Overy LLP

Legal Briefing

Following a sustained period of low oil prices, stakeholders in the oil and gas sector are under increasing pressure to extract value from the contracts that they are party to. This can put strain on longstanding relationships and can lead to disputes that, in a better price environment, would not necessarily have seen the light …

Energy storage – the answer to the UK’s power trilemma? | Brodies

Legal Briefing

Unsurprisingly, one of the hot topics of the moment is energy storage. As anyone connected with the energy industry is aware, the prospects for decarbonising our electricity system at the same time as ensuring secure and affordable energy seem to be reaching further into the future. Addressing the so-called ‘trilemma’ of decarbonisation, security of supply …

Capacity for debt? Funding issues and the capacity market | Burges Salmon

Legal Briefing

The capacity market, which was introduced as part of the government’s electricity market reform, was established to ensure security of supply in light of the increasing diversity of generation technologies in the UK market. Previous articles from the Burges Salmon team have set out the details of the capacity market and tracked recent updates and consultations. …

The end of the CRC scheme – the inevitable sting in the tail | Clarke Willmott LLP

Legal Briefing

The CRC Energy Efficiency Scheme is to be abolished. Although that will be popular among the organisations affected (CRC organisations) there is – and how could there not be? – a sting in the tail. On the plus side, after March 2019 CRC organisations will no longer have to forecast their energy use and buy …

REMIT – tough enforcement hits energy disclosure regime | Shakespeare Martineau LLP

Legal Briefing

More than four years after its inception, the EU’s Regulation on Energy Market Integrity and Transparency No 1227/2011 (REMIT) is finally getting onto the radar of compliance departments. The first fines for non-compliance have recently been handed out by regulators, and on 7 April 2016 the second phase of REMIT’s data collection and reporting requirements …

Seven questions oil and gas management should ask when approaching restructuring | Shearman & Sterling

Legal Briefing

It seems that lower oil prices are here to stay, at least in the short to medium term. While some in the sector built cash reserves during the boom years or have already renegotiated with their creditors, several are looking at some form of restructuring. This can range from opex/capex reductions to balance sheet restructurings. …