The goal of this course is to provide an overview of the federal economic regulation of oil and refined products pipelines. Taught by industry practitioners and regulators from the Federal Energy Regulatory Commission, the course begins with a brief overview of the oil and refined products pipeline industry and then describes key statutes and regulations governing and affecting the transportation of oil and other liquid petroleum products. Instructors explain important legal and regulatory concepts and requirements, pipeline services, the scope and limits of FERC and state jurisdiction and key issues affecting the industry. *please note the content on the agenda is based on the last time this course was presented live, and is subject to change based on presenter updates*

Hosted by:

Speakers Include:

Susan Beall Kittey, Assistant General Counsel, Kinder Morgan, Inc.

Glenn Benson, Partner, BakerHostetler

Adrianne Cook, Subject Matter Expert, Federal Energy Regulatory Commission

Damien Lyster, Partner, Vinson & Elkins

Laura Swett, Counsel – Energy Regulation, Vinson & Elkins

Bob Van Hoecke, Principal, Regulatory Economics Group, LLC

Monique Watson, Partner – Energy Regulation, Vinson & Elkins LLP

Dr. Michael Webb, Vice President, Regulatory Economics Group, LLC

May 29, 2024

1:30 – 2:00 PM: Registration opens

2:00 – 3:30 PM: Introduction to the Oil, NGLs, and Refined Products Pipeline Industry

• Industry Overview: Who’s Who?
• Pipeline Infrastructure
• Other Modes of Transporting Oil and Refined Products
• Overview of pipeline operations
  • Oil pipelines
  • Refined Products Pipeline
  • Jurisdiction Over Construction of Oil and Product Pipelines
• Contracts and Policies
  • Prorationing Policies
  • Open Seasons
  • Committed Volumes vs. Uncommitted Volumes
  • Petitions for Declaratory Order (PDOs)

3:45 – 5:00 PM: History of Regulation and Tariffs

• Regulatory Basics
  • Oil Pipeline Economic Regulation Today
  • Federal and State Jurisdiction
• Tariffs
  • Tariff Overview – Rates, Rules, and Regulations
  • eTariff
  • Order No. 780
  • Accounting: Form 6 & Page 700

5:00 PM: Happy Hour

May 30, 2024

9:00 – 9:30 AM: Registration & Breakfast

9:30 – 10:15 AM: Rate-Setting Mechanisms

• Overview of Types and Prevalence
• Indexed Rates – EPACT 92 Streamlining
• Initial Rates
• Settlement Rates
• Negotiated Rates
• Market-Based Rates
• Cost-of-Service Rates

10:30 – 11:30 AM: Cost of Service Rates

• Basic Cost of Service Concepts
• DOC v. TOC
• Base v. Test Period
• Rate Design Concepts

11:30 AM – 12:30 PM: Lunch is Served

12:30 -1:30 PM: Market Based Rates

• Overview of Market-Based Rates (MBR)
• Background
• FERC Standards
• Recent and Pending MBR cases
• Future Developments

1:45 – 3:00 PM: Litigation and FERC-Initiated Rate Investigations

• Tariff Filings
• Complaints
• Market-Based Rate and Negotiated Rate Litigation Issues
• The Hearing Process
• Rate Examination
• Trends in Litigation

3:15 – 4:00 PM: Policies and Current Issues

• Significant Rulemakings and Policy Issues
  • The Indexing Complaint Standard
  • Five-Year Review of Oil Pipeline Index
  • Affiliate Transactions
    • The Magellan order on rehearing
    • Proposed Policy Statement: Oil Pipeline Affiliated Committed Services (PL23-1)
  • Oil Pipeline Capacity NOI (AD22-7)
• Waiver of Tariff Filings and Reporting

Thank you to our Sponsors