Energy Trading
Haynes and Boone lawyers are experienced in the trading and marketing of energy commodities. Our attorneys have supported sophisticated trading desks and understand the legal, commercial and operational aspects of energy origination and trading, including physical and financial. Practice highlights include:
- Structured trades and originations
- Negotiating and drafting industry-specific documentation (including EEI, ISDA, GISB and NAESB)
- Preparation of presentations and reports needed for internal management and controls
- Value-at-risk assessment and policies
- Experience in negotiating and structuring transactions with cooperatives, municipalities and public power authorities, including the Tennessee Valley Authority and the Bonneville Power Administration
- Cross-product and cross-commodity experience, including physical and financial and wholesale and retail, in a full range of commodities (gas, power, liquids, crude, coal and emissions)
- Training and education of traders (including value-at-risk, contract formation and electronic recording, antitrust, and standards of conduct - including market affiliate rules)
- Contract settlement and close-out netting and set-off rights (square and triangular netting, safe harbor contracts, cross-product and cross-commodity, and settlement pricing determination)
- Power and gas book acquisitions and integration
- Negotiation of qualified scheduling entity (QSE) agreements
- Development of renewable energy credits programs including the purchase and sale of renewable energy credits
- Negotiation of hedges associated with both wholesale and retail power obligations including indexed transactions
- Structuring and negotiation of energy manager agreements