People / Kathryn Shurin
Shurin Katy

Kathryn Shurin

Kathryn “Katy” Shurin is a member of the Firm’s Energy, Power and Natural Resources Practice Group and the Chair of the Firm’s Renewables Practice. She represents financial institutions, commodities trading companies, energy marketers, project developers and other energy companies and investors in an array of complex commodity and derivatives transactions in the power, renewables, natural gas and upstream oil and gas sectors. Katy’s representations often involve highly structured, asset-backed transactions that utilize project and structured finance concepts and techniques. Katy has deep experience representing clients with respect to structured transactions and offtake arrangements involving gas-fired power plants, solar-powered facilities, wind farms and hybrid solar or wind plus battery storage projects located in each major power market in the United States, including ERCOT, SPP, PJM, MISO, CAISO, NYISO and ISO-NE.

Katy’s experience also includes negotiating environmental products trading agreements, including with respect to renewable energy credits (RECs), renewable identification numbers (RINs), carbon capture allowances (CCAs), low carbon fuel standard (LCFS) credits, regional greenhouse gas initiatives (RGGIs) and voluntary emissions reductions (VERs). While many of Katy’s transactions are bespoke arrangements, Katy is also highly familiar with the master agreements used in the power, gas and environmental products trading industries, including the ISDA and physical annexes thereunder, NAESB, EEI and WSPP.

In addition, Katy also has significant experience representing energy clients in workout and restructuring matters, both in and out of court. In particular, she has represented secured suppliers of power and natural gas and secured lenders to retail energy providers in Chapter 11 proceedings filed by the retail energy providers in the Southern District of Texas, Delaware and the Southern District of New York.

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Selected Client Representations
  • Representation of project developers and corporate and municipal buyers in the negotiation of power purchase agreements and virtual power purchase agreements in each major United States power market;
  • Representation of commodities affiliates of international financial institutions and marketing affiliates of international energy companies in the negotiation of physically and financially-settled wind and solar hedges in ERCOT, SPP, MISO and CAISO;
  • Representation of marketing affiliates of international energy company in the negotiation of proxy generation transactions relating to wind- and solar-powered generation facilities located in ERCOT and SPP;
  • Representation of commodities affiliates of international financial institutions in the negotiation of revenue puts relating to gas-fired power plants located in PJM, NYISO and ERCOT;
  • Representation of commodities affiliates of international financial institutions in the negotiation of heat rate call options relating to gas-fired power plants located in PJM, NYISO and ERCOT;
  • Representation of international financial institutions and international energy companies in the negotiation of physical supply, hedging and working capital facilities for retail power and natural gas providers in each ISO in the United States;
  • Representation of secured suppliers of power and natural gas and lenders in multiple Chapter 11 cases filed by retail electric providers in the District of Delaware, the Southern District of New York, and the Southern District of Texas, including with respect to 363 sales of retail electric provider assets;
  • Representation of buyers and sellers of secured claims against debtor in Chapter 11 proceedings;
  • Representation of buyers and sellers in the purchase and sale of RECs, RINs, RGGIs, CCAs, VERs and other environmental products;
  • Representation of commodities affiliates of international financial institutions in the negotiation of tolling agreements and other gas supply transactions; and
  • Representation of international financial institutions in the negotiation of reserve-based loans and secured trading programs thereunder.
Qualifications

Education

J.D., Washington and Lee University School of Law, 2009

B.A., Middlebury College, 2004, magna cum laude

Admissions

New York

Texas

Article/Mention
Katy Shurin Talks With Law360 About Texas Winter Storm’s Effect on Power Contracts
August 18, 2021

Haynes and Boone, LLP Partner Katy Shurin was quoted in a Law360 article about how Winter Storm Uri in February changed the way energy producers and financiers structure power hedges and negotiate around calamitous weather events. Below is an excerpt: …Several power producers lost big during the storm — ranging from hundreds of millions to about $1 billion — after they were forced to buy energy [...]