Concentration Energy Trading, Derivatives, Structured Commodity Transactions, Retail Natural Gas and Electricity
Biography Craig Enochs focuses his practice on commodity trading and marketing transactions. These include asset-based structured transactions, such as tolling, fuel supply, off-take and power purchase agreements; transactions for the purchase and sale of energy-related commodities, such as natural gas, electric power, coal, chemicals, and renewable energy credits; transmission arrangements and transportation for these commodities; and energy and agricultural commodity-based financial derivative transactions. In addition, Mr. Enochs assists clients in developing and negotiating credit arrangements to minimize transaction risk, including guaranties, credit support addenda, netting and setoff agreements, first lien structures and master netting agreements.
He has expertise in negotiating the standardized energy commodity master agreements, including the ISDA, EEI, WSPP, NAESB, GasEDI, CTA, and various master netting agreements, as well as related agreements such as transportation agreements, storage agreements, precedent agreements, and tariffs.
Mr. Enochs also represents clients in a variety of environmental trading transactions, including emissions credits and renewable energy credit/renewable portfolio standard (REC/RPS) transactions. He has worked with clients in ERCOT, NYISO, NEPOOL and CAISO in structuring and negotiating REC/RPS transactions and throughout the U.S. on various emissions credit transactions.
He also assists retail gas and electric marketers with their form development, supply and sales transactions and regulatory compliance.
More about Craig R. Enochs: Experience | Involvement | Recognition | Speeches / Publications | News
Representative Matters - Representation of retail electric providers in Texas in all phases of the creation and set up of the company, including corporate and financial structuring of the entities.
- Representation of retail natural gas and electricity providers in various markets across the U.S., including ERCOT, CAISO, ISO-NE, PJM, NYISO and MISO.
- Representation of retail energy providers and suppliers in structuring and negotiating Purchase of Receivables (POR) structures in ISO-NE, MISO, NYISO and PJM.
- Representation of retail electricity providers in CAISO, ISO-NE and PJM capacity transactions.
- Representation of an international investor group in starting up a U.S. retail electric provider modeled after a successful overseas retail electricity marketing affiliate.
- Representation of a large international energy supplier in structuring and documenting retail natural gas and electricity supply transactions for load serving entities where the supply is secured by the retail energy revenues.
- Representation of a large retail energy provider in arranging for the transportation contracts in the U.S. and Canada that permit it to deliver natural gas and electricity to its customers.
- Representation of minority-owned retail electric providers in setting up the company structures, structuring the credit and business model and arranging for credit and electricity supply.
- Representation of retail energy providers in evaluating their and opposing parties' claims and litigation strategies in retail energy disputes.
- Representation of retail natural gas and electricity providers in evaluating and responding to various customer requests for proposal and other bid opportunities.
- Representation of large commercial customer in negotiating electricity supply transactions for multiple office buildings across different states.
- Representation of a large retail energy provider in connection with its structured customer transactions including energy management services, demand management services, load-shedding customer contracts, pooling transactions, ancillary procurement of capacity and ancillary services and renewable energy credits.
More about Craig R. Enochs: Biography | Involvement | Recognition | Speeches / Publications | News Organization Membership Mr. Enochs is a member of The College of the State Bar of Texas.
More about Craig R. Enochs: Biography | Experience | Recognition | Speeches / Publications | News Peer Recognition
Mr. Enochs is listed in The Best Lawyers in America under Derivatives and Futures Law (2007-2012). He was named a "Rising Star" (2006-2007, 2011-2012) by Thomson Reuters. He was also named one of H Texas magazine's "Top Lawyers" (2010) and "Houston Professionals on the Fast Track" (2006, 2007, and 2009).
More about Craig R. Enochs: Biography | Experience | Involvement | Speeches / Publications | News Speeches / Publications
Mr. Enochs published and spoke on the following:
- Co-Presenter, "The Dodd-Frank Act: Practical Advice for End Users," Texas Journal of Oil, Gas & Energy Law, 7th Annual Texas Energy Symposium (February 9, 2012)
- Co-author, "Dodd-Frank Update: Impact on Gas & Power Transactions," University of Texas CLE 10th Annual Gas and Power Institute (September 22, 2011)
- Presenter, "Understanding the ISDA Credit Support Annex: Know Your Rights and Risks," International Energy Credit Association's 2011 IECA Spring Education Conference (March 20, 2011)
- Presenter, "Dodd-Frank Financial Reform--Potential Impacts to ISDA and Other Trading Contracts," North American Power Credit Organization's January 2011 Conference (January 20, 2011)
- Co-author, "Credit Tools Used in Structured Energy Transactions," Energy and Environmental Project Finance Law and Taxation: New Investment Techniques (August 2010)
- Co-author, "MBS Management Services, Inc. Revisited: Do Retail Electricity Agreements Constitute Forward Contracts?" Energy e-Alert (August 2010)
- Co-author, "Do Retail Electricity Agreements Constitute Forward Contracts?" Energy e-Alert (June 2010)
- Co-author, "Wash Sales - The CFTC Issues New Sanctions," Energy e-Alert (April 2010)
- Co-author, "US Supreme Court Applies Mobile-Sierra to Non-Contracting Parties," Energy e-Alert (January 2010)
- Co-Presenter, "Collateral - Not Just Cash and LC's Any More," International Energy Credit Association 2010 Spring Conference (March 22, 2010)
- Co-Presenter, "Alternative Collateral Risk Mitigation," International Energy Credit Association 85th Annual Fall Conference (October 13, 2009)
- Presenter, "ISDA and its Commodity Annexes: The New EEI or NAESB?" University of Texas CLE 8th Annual Gas and Power Institute (September 10, 2009)
- Moderator, "Carbon and Clean Technology: Carbon Trading - View from the Floor", Clean Technology Conference and Expo 2009 (May 2009)
- Panelist, "Netting, Recoupment, Setoffs & Such Matter – How To Make It Stick," International Energy Credit Association Spring Conference (March 2009)
- Co-Presenter, "National Gas Distributors – Is the Sky Really Falling?," International Energy Credit Association 84th Annual Fall Conference (October 2008)
- Presenter, "Netting and Offset Principles in Energy Transactions," 7th Annual Energy Contracts (October 2008)
- Presenter, "Managing 'Gap Risk' Between Standard Form Trading Agreements," 7th Annual Gas & Power Institute (September 2008)
- Co-author, "Chapter 6: Standardized Physical Gas and Power Agreements," Energy and Environmental Trading: U.S. Law and Taxation (2008)
- Presenter, "Failure to Deliver or Receive the Commodity: Cover, Take or Pay Issues, Netting and Offset Principles in Oil and Gas Transactions," University of Houston Law Center Oil, Gas and Energy Law Conference (September 2007)
- Co-author, "Court Limits Scope of Forward Contracts," Energy e-Alert (July 2007)
- Presenter, "Netting and Offset Principles in Energy Transactions," State Bar of Texas 24th Annual Advanced Oil Gas & Energy Resources Lawcourse (October 2006)
- Presenter, "Considerations in Gas Contracts Using LNG Supply," Texas Utility Lawyers Association (November 2005)
- Co-presenter, "A Comparison of Remedies in the UCC To Remedies Available Under the NAESB, EEI, and ISDA," University of Texas 4th Annual Gas and Power Institute (October 2005)
- Presenter, "Shocking Issues in Electricity Contracts," South Texas College of Law 2005 Real Estate Law Conference (June 2005)
- Co-presenter, "Marking Up the Forms – Common Modifications of Standard Trading Contracts," University of Texas 3rd Annual Gas and Power Institute (November 2004)
- Co-author, "Early Termination and Liquidation Provisions as Risk Tools in Master Energy Agreements," State Bar of Texas Section Report – Oil, Gas and Energy Resources, Vol. 29, No. 1 (September 2004)
- Presenter, "Issues in the Termination and Liquidation of Gas Purchase and Sale Agreements," 2004 Energy Finance & Credit Conference (2004)
- Co-author, "Energy Agreements and Bankruptcy," 2nd Annual Gas and Power Institute (November 2003)
- Presenter, "An Analysis of the EEI and NAESB Master Agreements and How They Can Help You," Texas Utility Lawyers Association 2003 Conference (October 2003)
- Author, "2002 ISDA Update" (August 2003)
- Co-author/presenter, "Early Termination and Liquidation Provisions in Energy Trading and Marketing Agreements," University of Texas 1st Annual Gas and Power Institute (November 2002), 2003 Corporate Counsel Update (2003), and South Texas College of Law Power Institute
- Co-author/presenter, "How to Use the ISDA Master Agreement," 28th Annual Ernest E. Smith Oil, Gas & Mineral Law Institute (2002)
- Author, "Gone Today, Here Tomorrow: Policies and Issues Surrounding Wildlife Reintroduction," West Northwest Journal of Environmental Law and Policy, 4: 91,98 (1997)
Links to Publications
- The Dodd-Frank Act: Practical Advice for End Users
- Jackson Walker Energy e-Alert: Bankruptcy Court Rejects Triangular Setoff Rights in ISDA Agreement
- Bankruptcy Court Limits the Scope of "Forward Contracts"
- Dodd Frank Update: Impact on Gas & Power Transactions
- Dodd Frank Update: Impact on Gas & Power Transactions (PowerPoint)
- CFTC Delays Effective Date for Certain Swap Provisions Under Dodd-Frank Act
- Experts: Changes Coming on Derivatives
- Understanding the ISDA Credit Support Annex: Know Your Rights and Risks
- Dodd-Frank Financial Reform--Potential Impacts to ISDA and Other Trading Contracts
- Dodd-Frank's New Rules for Over-the-Counter Swap Transactions
- Dodd-Frank Wall Street Reform and Consumer Protection Act: Practical Considerations for Energy Commodity
- Court Addresses Capacity Obligations in Electricity Contracts
- MBS Management Services, Inc. Revisited: Do Retail Electricity Agreements Constitute Forward Contracts?
- Energy e-Alert: MBS Management Services, Inc. Revisited: Do Retail Electricity Agreements Constitute Forward Contracts?
- Do Retail Electricity Agreements Constitute Forward Contracts?
- Wash Sales - The CFTC Issues New Sanctions
- Collateral - Not Just Cash and LC's Any More -- Powerpoint
- US Supreme Court Applies Mobile-Sierra to Non-Contracting Parties
- Alternative Collateral Risk Mitigation
- ISDA and its Commodity Annexes: The New EEI or NAESB?
- ISDA and its Commodity Annexes: The New EEI or NAESB? -- PowerPoint
- What Constitutes Force Majeure Under the NAESB?
- Fourth Circuit Reverses In re National Gas Distributors
- Bankruptcy Court Grants TRO in Favor of Non-Bankrupt Guarantor
- Mechanics of Early Termination and Liquidation
- Netting and Offset Principles in Energy Transactions - PowerPoint
- Netting and Offset Principles in Energy Transactions Under U.S. and Canadian Bankruptcy Laws
- Managing "Gap Risk" Between Standard Form Trading Agreements - PowerPoint
- Managing "Gap Risk" Between Standard Form Trading Agreements
- Court of Appeals Vacates and Remands the EPA's Clean Air Interstate Rule (CAIR); Texas Rulemaking Impacted
- U.S. Supreme Court Overturns Ninth Circuit Snohomish Decision Related to FERC Review of Electricity Contracts
- Chapter 6: Standardized Physical Gas and Power Agreements
- Failure To Deliver Or Receive Natural Gas: Including Adequate Assurances, Cover, and Force Majeure - PowerPoint
- Failure To Deliver Or Receive Natural Gas: Including Adequate Assurances, Cover, and Force Majeure
- Failure to Deliver or Receive the Commodity: Cover, Take or Pay Issues, Netting and Offset Principles in Oil and Gas Transactions
- Court Limits Scope of "Forward Contracts"
- Considerations in Gas Contracts Using LNG Supply
- A Comparison of Remedies in the UCC To Remedies - Available Under the NAESB, EEI, and ISDA
- Shocking Issues in Electricity Contracts
- Courts Continue to Question Meaning of "Forward Contract Merchants"
- Marking-Up the Forms - Common Modifications of Standard Trading Contracts
- Early Termination and Liquidation Provisions as Risk Tools in Master Energy Agreements
- Issues in the Termination and Liquidation of Gas Purchase and Sale Agreements
- Energy Agreements and Bankruptcy
- Getting By With a Little Help From Your Friends
- 2002 ISDA Update
- Early Termination and Liquidation Provisions in Energy Trading and Marketing Agreements
- How to Use the ISDA Master Agreement
More about Craig R. Enochs: Biography | Experience | Involvement | Recognition | News
Practice Areas
EducationB.A., cum laude, University of Houston J.D., University of California Hastings College of the Law
Bar Admissions
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