FERC Can’t Yank Pipeline Tax Perk, DC Circ. Hears

Law360 (October 15, 2019, 7:18 PM EDT) — A Kinder Morgan unit told the D.C. Circuit that the Federal Energy Regulatory Commission used a misguided policy to wrongly strip the company of a key tax perk for pipeline master limited partnerships. 

SFPP LP, which is separately fighting the underlying policy, is also fighting FERC’s application of that policy to deny it an income tax allowance. In a brief Friday, SFPP told the D.C. Circuit that FERC’s combined actions immediately sent market values of pipeline MLPs tumbling downward and have sent MLP investors scrambling for the exits.

“FERC’s policy reversal has harmed investors in energy infrastructure, negatively impacted MLPs’ ability to attract…

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