Catherine represents market participants in audits and investigations before the Federal Energy Regulatory Commission (FERC), Commodity Futures Trading Commission (CFTC), North American Electric Reliability Corporation (NERC), Department of Energy (DOE), Public Utility Commission of Texas (PUCT) and other state agencies and public utility commissions. She conducts internal investigations, responds to agency inquiries and negotiates the resolution of audit and investigatory matters related to power, natural gas, crude oil and liquids. She has worked extensively on implementation and impact of rulemakings of the Dodd-Frank Act. She also assesses internal practices and implements compliance programs related to market manipulation, position limits and reporting, transaction and price reporting, greenhouse gas and other emissions reporting, document retention, interlocking officer and director positions, regional reliability standards, DOE efficiency standards and the Public Utility Holding Company Act.
Catherine advises clients on energy transactions, including mergers, company and asset acquisitions/dispositions, energy/asset management and tolling arrangements and transmission and scheduling services agreements. She manages due diligence for all types of energy transactions, including regulatory due diligence, and advises on the regulatory obligations associated with acquisitions/dispositions, including FERC approvals and jurisdictional waivers.
Catherine helps establish trading organizations, from companies growing their business from within to those integrating an acquired trading business. In this capacity, she advises on the requirements necessary to enter into and participate in the wholesale energy markets, including market-based rate authorizations, DOE import and export licenses, qualifying facility certifications and state registrations.
Awards and Rankings
Recognized by The Legal 500 United States in the area of energy: regulatory (2015-2016) and energy regulatory: conventional power (2017-2018)
Recognized by Fortnightly as a Top Utility Lawyer of 2011
Recognized by Chambers Global: World's Leading Lawyers for Business in the area of energy (2017-2018)
Recognized by Chambers USA: Guide to Leading Business Lawyers in the area of electricity regulation and litigation (2010-2018)
Selected for inclusion in Washington, DC, Super Lawyers (2013-2015)
“Eversheds Sutherland (US) offers the perfect balance for me: big time clients, challenging work, talented attorneys and a collegial work environment that makes me enjoy coming to the office.”
Conducted comprehensive compliance review and program implement for energy firm.
Defended an energy trading company in FERC and CFTC investigations.
Advised on creation of two new power trading firms.
Advised on acquisition of North American retail and wholesale trading operations.
“If financial transmissions rights (FTRs) are defined as swaps, regional transmission organizations and independent system operators-the centralized market makers that administer FTRs-could be forced to form new exchanges, derivatives clearing organizations or swap execution facilities to meet the new rules.”
Legal Alert: FERC orders natural gas pipelines to address federal income tax changes (July 24, 2018)
On July 18, the Federal Energy Regulatory Commission (FERC) issued orders (i) adopting procedures to implement the federal corporate income tax rate reduction in natural gas pipeline rates, and (ii) ...
Legal Alert: FERC eliminates tax allowances for MLP pipelines, proposes tax-related rate reviews (March 20, 2018)
On March 15, 2018, the Federal Energy Regulatory Commission (FERC) issued important orders regarding two significant tax-related rate matters affecting interstate oil and natural gas pipelines. The ...
Legal Alert: CFTC’s Updated Enforcement Advisory Attempts To Shift Incentives In Favor Of Self-Reporting And Full Cooperation (September 29, 2017)
On September 25, 2017, the Division of Enforcement (Division) of the US Commodity Futures Trading Commission (Commission) issued an “Updated Advisory On Self Reporting And Full Cooperation.”1 The ...
Legal Alert: The Deadline for Compliance With the U.S. Variation Margin Rules Is Approaching! Are You Ready? (December 20, 2016)
The requirement that non-cleared swaps be fully margined, which is one of the last pillars of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), will take effect ...
Legal Alert: ISDA Publishes Variation Margin Protocol (August 23, 2016)
On August 16, 2016, the International Swaps and Derivatives Association, Inc. (ISDA) published the ISDA 2016 Variation Margin Protocol (VM Protocol). The VM Protocol is intended as a tool to help ...
Legal Alert: CFTC Proposes to Expand Mandatory Clearing to Include Additional Classes of Interest Rate Swaps (June 20, 2016)
On June 9, the Commodity Futures Trading Commission (CFTC) released a notice of proposed rulemaking regarding an expansion of CFTC Regulation 50.4(a). If adopted, additional classes of interest rate ...
Legal Alert: CFTC Intermediaries to Adopt and Implement Cybersecurity Programs by March 1, 2016 (February 29, 2016)
Commencing March 1, 2016, all commodity pool operators, commodity trading advisors, futures commission merchants, retail foreign exchange dealers, introducing brokers, major swap participants and ...
Legal Alert: CFTC and EU Regulators Agree on a Common Approach for the Regulation of CCPs (February 12, 2016)
Earlier this week, the Commodity Futures Trading Commission (CFTC) and European regulators announced that they have reached agreement on a “common approach” regarding requirements for central ...
Legal Alert: CFTC Amends Regulation 1.35 (February 3, 2016)
U.S. Commodity Futures Trading Commission (CFTC) Regulation 1.35 requires futures commission merchants (FCMs), retail foreign exchange dealers (RFEDs), introducing brokers (IBs) and members of a swap ...
Legal Alert: Preliminary Report on the Swap Dealer De Minimis Exception (December 10, 2015)
On November 18, the staff of the Commodity Futures Trading Commission (CFTC) issued a much anticipated report on the de minimis exception from the “swap dealer” definition, the Swap Dealer De Minimis ...
Ten Questions to Ask When Thinking About Compliance (Fall 2010)
Who's In Charge of Carbon Markets? (July 2008)
Reprinted with permission Public Utilities Fortnightly
Climate Change: White Paper Favors Cap-And-Trade (October 2007)
There's a New Sheriff in Town: Energy Derivatives and FERC (July/August 2007)
“People are trying to figure out: ‘Where am I going to spend my money?’ I think energy firms are torn between making investments they really need to make and putting cash aside on the off chance they are going to have to post margin.”
US Department of Energy Storage Financing Summit (June 7, 2017)
The US Department of Energy, Eversheds Sutherland (US) LLP and Mustang Prairie Energy are proud to host the 2017 US Department of Energy Storage Financing Summit - Reducing Contract Risks for ...
2016 ACC Annual Meeting (October 16-19, 2016)
Sutherland is a proud Gold sponsor of the Association of Corporate Counsel’s Annual Meeting on October 16-19, 2016, in San Francisco, California. The ACC Annual Meeting is the largest gathering of ...
Webcast: Asset Optimization and Management: Potential Enforcement Exposure in Energy Commodity Markets (June 30, 2016)
ACC Energy Committee
Sutherland attorneys Gregory Kaufman, Catherine Krupka, Michael Sweeney and Stephen Tsai present Asset Optimization and Management: Potential Enforcement Exposure in Energy Commodity Markets, a ...
Webcast: Hedge Exemption Abuse (October 22, 2015)
As the U.S. Commodity Futures Trading Commission (CFTC) moves from implementing final rules adopted under Title VII of Dodd-Frank to enforcing compliance with them, hedging activity of market ...
Legal Quick Hit: Recent Trends in Energy Regulatory Investigations (March 19, 2014)
ACC Legal Quick Hit
Companies face a multitude of issues at the outset of an inquiry from a regulator or market operator, including cooperation with the inquiry, preserving privilege, complying with CFTC CCO compliance ...
Packed Just Right (September 30, 2012 - October 3, 2012)
ACC 2012 Annual Meeting
Sutherland is proud to be a returning Gold Sponsor of the Association of Corporate Counsel’s 2012 Annual Meeting, taking place September 30-October 3 at the World Center Marriott in Orlando. The ACC ...
ACC’s 2011 Annual Meeting: Learn Share Grow (October 23, 2011 - October 26, 2011)
Association of Corporate Counsel
Sutherland is proud to be a returning sponsor of the Association of Corporate Counsel’s 2011 Annual Meeting scheduled for October 23-26 at Denver’s Colorado Convention Center. The ACC Annual Meeting ...
2011 Argus U.S. Oil Market Regulation Summit (September 27, 2011)
Argus U.S. Oil Market Regulation Summit
Sutherland is a proud sponsor of the 2011 Argus U.S. Oil Market Regulation Summit. Partners James M. Cain, Peter H. Rodgers and Catherine M. Krupka are speaking at the event on September 27, 2011, in ...
Dodd-Frank Act: Back to Basics for End Users (June 7, 2011)
Future Industry Association Energy Forum
The Dodd-Frank Act: Back to Basics for End Users (June 7, 2011)
American Bar Association Webinar
Sutherland Attorneys Catherine M. Krupka and Ann M. Battle are speaking at the American Bar Association's webinar: The Dodd-Frank Act: Back to Basics for End Users.Much of the news on the ...
Member, Federal Energy Bar Association
Member, Law and Compliance Division, Futures Industry Association
Member, Women's Council on Energy and the Environment
Vice President, Charitable Foundation of the Energy Bar Association
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