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Jeffrey Jakubiak
Jeffrey Jakubiak
Partner — Energy Regulation
E: jjakubiak@velaw.com T: +1.212.237.0082
VCard BIO PDF
Partner — Energy Regulation

Jeffrey Jakubiak

Jeffrey Jakubiak
New York
T: +1.212.237.0082
F: +1.917.720.9115

The Grace Building
1114 Avenue of the Americas
32nd Floor
New York, New York 10036

Washington, D.C.

2200 Pennsylvania Avenue NW
Suite 500 West
Washington, D.C. 20037

E: jjakubiak@velaw.com
VCard BIO PDF
start quote symbolI was drawn to energy regulatory law by the fact that economics is integral to so much of what we do as lawyers in this area. My first academic love was quantitative economics and I bring this background and experience to much of my law practice, which often involves energy markets, ratemaking, accounting, and finance.end quote symbol
Jeffrey Jakubiak

Jeffrey counsels clients regarding a broad variety of electric, natural gas, and oil matters at the Federal Energy Regulatory Commission (FERC). His practice focuses on matters at the crossroads of law and economics, particularly cost-of-service ratemaking, energy transactions, electric company mergers and power sales, energy market manipulation, and the workings of energy markets. He has a deep understanding of the methodologies used by FERC to set returns on equity and to analyze generation market power, and has developed proprietary quantitative analytical tools that he uses to advise clients on electric asset transactions, market-based rate authorizations, and litigation risk.

Jeffrey’s FERC experience has been recognized by Chambers USA and Chambers Global. Clients have noted he is “an outstanding attorney who has full command of all aspects of the energy industry” and “is an excellent strategic thinker, and has exceptional analytical and writing skills” (Chambers USA 2019). In particular, he is “extremely experienced in FERC matters and understands the nuts and bolts of the law in this area” (Chambers USA 2016). He was also recognized as a leading lawyer for the area of Energy Law in the 2023 edition of The Best Lawyers in America®.

He has also authored several articles on energy economics presented at the annual meetings of the International Association for Energy Economics.

Experience Highlights

  • Represented international oil pipeline in litigation before the FERC over contracted service rates covering multi-year period

  • Represented electric utility in litigation before the FERC and U.S. Court of Appeals for the D.C. Circuit regarding regulated returns on equity

  • Represented electric utility in multiple proceedings before the FERC to obtain approval of new formula transmission rates, as well as related proceedings regarding annual changes to the charges under the formulas

  • Represented electric utilities in application to the U.S. Department of Energy for emergency order, pursuant to Section 202(c) of the Federal Power Act, directing RTO to enter into long-term power purchase agreements with nuclear and coal-fired power plants based on the fuel security and diversity they provide to energy markets

  • Prepared for electric utility holding companies preliminary merger market concentration analyses (a/k/a FERC “Appendix A” or HHI analyses) regarding possible purchase of electric utilities and/or electric generating facilities

  • Represented power marketer and developer of solar generation projects in obtaining FERC approvals under Section 203 of the Federal Power Act for restructuring involving investments by private equity investors

  • Represented affiliated multi-national energy companies and individuals in defending FERC allegations of natural gas market manipulation

  • Represented multiple electric utilities in FERC and NERC regulatory compliance audits

  • Represented natural gas trading company in FERC Office of Enforcement proceeding regarding compliance with Shipper Must Have Title policy

  • Represented electric utility in ReliabilityFirst audits regarding compliance with NERC Reliability Standards

  • Represented affiliated multi-national energy companies and individuals in defending FERC allegations of natural gas market manipulation

  • Obtained for an electric utility waiver of FERC’s regulations governing inter-affiliate sales of non-power goods and services

  • Represented energy management company in FERC Office of Enforcement investigations regarding compliance with RTO rules governing energy offers by electric generators

  • Represented power marketer in FERC Office of Enforcement investigation regarding compliance with RTO rules governing energy offers and bids

  • Obtained FERC approval for electric utility board members and executives to hold interlocking positions at affiliated and unaffiliated entities

  • Represented energy traders in FERC Office of Enforcement investigation regarding compliance with RTO rules governing energy offers

  • Represented natural gas trading company in FERC Office of Enforcement investigation regarding compliance with transaction reporting requirements

  • Represented electric utility in FERC Office of Enforcement audit regarding compliance with merger hold harmless commitments and with terms and conditions of Open Access Transmission Tariff formula rates and accounting practices

  • Represented non-utility generator in FERC Office of Enforcement proceeding regarding failure to obtain Federal Power Act approval prior to making wholesale sales of electric energy

  • Represented electric utility in FERC Office of Enforcement audits regarding compliance with Standards of Conduct regulations

  • Represented non-utility generator in FERC investigation into energy sold to the State of California during the energy crisis of 2000-2001

  • Represented electric utility in FERC proceeding under Section 203 of the Federal Power Act for approval of its purchase by international utility holding company

  • Represented international electric utility holding company in FERC proceedings under Section 203 of the Federal Power Act for approval to purchase U.S. electric utilities and non-utility generators

  • Prepared for electric utility holding companies preliminary merger market concentration analyses (a/k/a FERC “Appendix A” or HHI analyses) regarding possible purchase of electric utilities and/or electric generating facilities

  • Represented power marketer in proceedings before FERC under Section 203 of the Federal Power Act for approval for a private equity investor to contribute capital in multiple transactions over a multi-year period

  • Represented a private equity fund before FERC regarding investments in electric utility holding companies

  • Represented renewable power facility developer in proceedings before FERC under Section 203 of the Federal Power Act for approval of transaction involving corporate restructuring and partial purchase by private equity investor

  • Represented utility holding company in proceeding before FERC under Section 203 of the Federal Power Act for approval for an inter-affiliate sale of a generating facility

  • Represented electric utility holding companies and electric utilities in FERC proceedings under Section 203 of the Federal Power Act to acquire non-utility generators

  • Advised multi-state utility holding company on sale of vertically-integrated electric utility to another multi-state utility holding company

  • Advised state agency on sale of state-owned electric utility

  • Represented electric utility in litigation before the FERC and U.S. Court of Appeals for the D.C. Circuit regarding regulated returns on equity

  • Represented international oil pipeline in litigation before the FERC over contracted service rates covering multi-year period

  • Represented electric utility in FERC proceedings regarding changes to transmission formula rates resulting from utility merger

  • Represented electric utility in FERC proceedings regarding updated charges under transmission formula rates

  • Represented electric utility in FERC proceeding regarding changes to transmission formula rates resulting from FERC-initiated proceeding mandating greater transparency and detail

  • Represented electric utilities and non-utility generators in FERC proceedings regarding changes to Regional Transmission Organization, Independent System Operator, and Independent System Administrator market rules

  • Represented electric utilities in litigation before the FERC regarding changes to stated Open Access Transmission Tariff rates

  • Represented electric utilities in FERC proceedings regarding changes to transmission formula rates necessary to ensure the return of Excess Accumulated Deferred Income Taxes to customers resulting from the Tax Cut and Jobs Act of 2017

  • Obtained market-based rate authority from FERC for power marketers and non-utility generators

  • Represented electric utilities, non-utility generators, and power marketers in FERC change in status proceedings and market power updates necessary to maintain market-based rate authority (including, where necessary, submission of detailed market power analyses)

  • Conducted annual FERC Standards of Conduct compliance training for electric utility board members and employees

  • Represented electric utility in FERC complaint proceeding against allegations of mishandling of generation interconnection queue

  • Represented electric utilities and non-utility generators in multi-party litigation before FERC and the U.S. Court of Appeals for the Ninth Circuit regarding rates charged for energy sold during the Western Energy Crisis of 2000-2001

  • Represented non-utility generator in litigation before FERC regarding rates under Reliability Must Run agreements

Credentials

  • Cornell Law School, J.D., 1997 (Cornell Journal of Law and Public Policy, Board Editor; Olin Foundation Law and Economics Scholar)
  • Stanford University, B.A. with honors in quantitative economics, 1993
  • Chambers Global, Energy: Electricity (Regulatory & Litigation) (USA), 2024
  • The Best Lawyers in America® (BL Rankings, LLC), Energy Law (New York), 2023–2025
  • Chambers USA: America’s Leading Lawyers for Business in Energy: Electricity (Regulatory & Litigation), 2016–2023, Energy: Electricity (Regulatory & Litigation) (Nationwide), 2024
  • Chambers Global Guide: Energy: Electricity (Regulatory & Litigation), 2020–2022
  • Selected to the 500 Leading Energy Lawyers, Lawdragon, 2023 and 2024
  • Legal 500 U.S., Energy Litigation: Oil & Gas, 2023; Energy Regulation: Oil & Gas, 2023; Energy Regulation: Electric Power, 2024
  • Board of Directors of the Northeast Chapter of the Energy Bar Association
  • Member, Energy Bar Association
  • New York
  • District of Columbia
  • “New EPA Greenhouse Gas Rule Takes Aim at Fossil-Fueled Power Plants,” The Journal of Federal Agency Action, Volume 2, No. 5, September–October 2024 (co-author)
  • “Marginal Cost Pricing Has Little Place in Electricity Regulation,” Presented at 24th Annual North American Meeting of the United States Association for Energy Economics and the International Association for Energy Economics, Washington, D.C., July 2004
  • “Time-Of-Use Electricity Pricing Should Be Mandated As A Public Good,” Paper Presented at the 26th Annual Conference of the International Association for Energy Economics, “New Challenges for Energy Decision Makers,” Prague, Czech Republic, June 2003

News & Insights

Insight
FERC Issues Order on Remand for Transmission Return on Equity Methodology, but Leaves the Door Open for Future Challenges

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October 23, 2024
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Video