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Paul M. McBride
P: +1.212.938.6440
F: +1.800.404.3970

Cheryl Martin


As a member of Bracewell’s energy group, Paul’s practice focuses on power, natural gas, environmental products, and related transactions. He has experience structuring and negotiating a variety of commodity trading and related matters including physical and financial trading facilities and hedging transactions, energy management agreements, and preferred commodity supplier and financing facilities. This experience includes advising market participants on OTC derivatives regulations, commodity exchange trading rules, ISO/RTO specific products, and other requirements applicable to energy trading and marketing activities. Paul also regularly works on a wide variety of development, finance and investment matters in the power and natural gas sectors.

Before returning to Bracewell, Paul served as in-house counsel at EDF Trading North America, LLC, where he provided key legal support to all of the company’s lines of business, including power products, environmental products, natural gas, large-scale retail commercial and industrial, and power and gas asset management. In addition, Paul routinely provided guidance and recommendations to the company on applicable Dodd-Frank, EMIR, and Canadian derivatives regulations and assisted in the development of related polices. Paul began his legal career as an associate in Bracewell’s Houston and Dallas offices.

Prior to attending law school, Paul served six years as an active duty U.S. Army officer. While on active duty, he served with units located in the United States and Europe and completed a one-year deployment to Afghanistan as a paratrooper with the 173rd Airborne Brigade Combat Team.

Representative Matters

EDF Trading North America, LLC in the negotiation, implementation and ongoing maintenance of energy management agreements for generating facilities located in bilateral and ISO/RTO markets (including ERCOT, PJM, MISO and CAISO)

EDF Trading North America, LLC in the structuring and negotiation of a sleeved retail power supply facility serving two aluminum smelting facilities with an aggregate load of approximately 1,000 MW

EDF Trading North America, LLC in the negotiation and documentation of multiple physical and financially settled structured transactions, including heat rate transactions, MISO and PJM capacity and auction revenue rights transactions, weather derivatives, and California resource adequacy and renewable portfolio standard transactions

EDF Trading North America, LLC in the negotiation and structuring of multiple REC purchase and sale transactions and offtake agreements across all actively traded REC markets

EDF Trading North America, LLC in the negotiation and structuring of multiple linked California/Québec carbon allowance and carbon offset purchase and sale transactions and RGGI purchase and sale transactions

Multiple power marketers in arrangements with retail electric companies across the country to supply and sleeve wholesale power and to provide liquidity through working capital facilities

Multiple financial institutions and energy companies in the negotiation of lien-based and margined physical and financial commodity trading enabling agreements (including ISDAs, EEIs, NAESBs, and bespoke master agreements for environmental products)

Ruby Pipeline, LLC in the restructuring of interest rate hedging facilities and novation of transactions in connection with its $1.075 billion senior notes offering and $350 million term loan facility used to refinance its $1.65 billion construction financing

A provider of electric vehicle charging services in connection with the expansion of its network of charging stations

A power generator in the termination of the facility’s existing O&M agreement and negotiation of its replacement O&M agreement

EDF Trading North America, LLC in the drafting of comments submitted to the CFTC in response to various Dodd-Frank rulemakings

EDF Trading North America, LLC in connection with the interpretation and implementation of commodity exchange trading rules, including rules relating to block trade and exchange for related position transactions

A foreign bank in connection with CFTC and bank regulatory issues applicable to OTC foreign currency trading activities

Publications and Speeches

Panelist, “A Roundtable Discussion on Dodd-Frank Energy Contract Provisions (Potential Pitfalls and Issues to Consider),” International Energy Credit Association, July 2014

Panelist, “Swaps, Forwards & Options: Is There a Meeting of the Minds,” Edison Electric Institute, CFTC Dodd-Frank Compliance Forum, October 2013

Panelist, “IECA Webinar: Amendment Adopting, Incorporating and Amending the ISDA March 2013 DF Supplement,” International Energy Credit Association, March 2013

“The Dodd-Frank Act and OTC Derivatives: The Impact of Mandatory Central Clearing on the Global OTC Derivatives Market, ” International Lawyer, Winter 2010

“Beyond Orwell: The Application of Unmanned Aircraft Systems in Domestic Surveillance Operations,” Journal of Air Law and Commerce, Summer 2009

“Takings – The Federal Circuit Denies Compensation for Passenger Screening Companies Pushed Out of the Airport by the Aviation and Transportation Security Act: Huntleigh USA Corp. v. United States, ” Journal of Air Law and Commerce, Winter 2009


J.D., magna cum laude, Southern Methodist University Dedman School of Law, 2010
M.S., University of Maryland University College, 2005
B.S., U.S. Military Academy at West Point, 2001

Bar Admissions

New York


International Energy Credit Association (Committee Member – Contracts and Legal Education Group)
Energy Bar Association
U.S. Army Medical Service Corps, 2001-2007


Hatton W. Sumners Scholar, Southern Methodist University
Order of the Coif
Symposium Editor, SMU Law Review