This program is designed for:

• Finance, investor relations or corporate strategy/development professionals at power or gas companies
• Professionals in investment banking, project finance, asset management, hedge funds, or equity/ fixed income research
• Consultants, accountants and lawyers who advise power and gas clients
• Industry regulators
• Suppliers to the power and gas sectors

This seminar presumes familiarity with basic accounting and finance concepts. Prior to the program, participants will receive materials for the program's case study as well as suggested reading for those new to the sector. This program does not include Excel modeling.

What is the dress code?
Business casual.

Do I need a laptop?
Participants are not required to bring a laptop. A calculator may be helpful, but is not mandatory.

Is there required pre-reading?
Yes. Prior to the program, participants who have paid their registration fee in full will receive advance reading materials. We encourage you to thoughtfully review these materials prior to the start of the program.

Are meals included?
Your registration fee includes continental breakfast and lunch for both days of the program. Also included is the Tuesday evening cocktail reception.

What is the cancellation policy?
Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another SNL CFE program within 13 months. Due to expenses and commitments, cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit.

Attendee substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.

"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

SNL Center for Financial Education reserves the right to cancel/change programs, content, speakers or venue at any time. SNL CFE reserves the right to make portions of the program registration information available to program sponsors. SNL CFE will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, CFE will refund the registrant's tuition in full, however CFE will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding SNL CFE's refund, complaint or program cancellation policy, please call us at (434) 951-7786.

ABP Investments
Allstate Investment
American Electric Power
Ambac
American Gas Association
Atlas Pipeline Mid-Continent
Bank of Tokyo-Mitsubishi UFJ Trust Co.
Barclays Global Investors
BayernLB
BB&T Corporation
Bechtel Enterprises Inc.
Black River Asset Management
Black & Veatch
BMO Nesbitt Burns
BNP Paribas Group
Booz & Company
Bridge Strategy Group
Brookfield Powert
Brubaker & Associates
Bryn Mawr Capital Management
Capital Power
CenterPoint Energy
CIBC World Markets
Citigroup Global Markets
CoBank ACB
Consolidated Edison Company
Constellation Energy Group
David Vaughan Investments
Deloitte
Direct Energy
Doble Engineering
Dominion Resources
DTE Energy Company
Edison Electric Institute
El Paso Electric Company
Ensign Peak Advisors
EPCOR Utilities
EPRI Technical Library
Ernst & Young
Excelon Corporation
Fitch Ratings
GenPower
Greenhill & Co.
Goldman Sachs Group
Hastings Funds Management
Hess Corporation
Highstar Capital
Hunt Power
Hunt Transmission Services
HVB Group
IDT
JP Morgan Chase
KeyBanc Capital Markets
KeySpan Energy Corporation
Laclede Gas Company
Liberty Natural Gas
Lord Abbett & Company
Macquarie Holdings (USA)
Madison Gas & Electric
Morgan Stanley
Navigant Consulting
NRG Energy
NICOR
Northeast Utilities
NorthWestern Energy Division
Oklahoma Corporation Commission
Osaka Gas Company
Pinebridge
Pirate Capital
PricewaterhouseCoopers
PPL
PSEG Power
Puget Sound Energy
RNK Capital
Sasco Capital
Seguin Capital
Sempra Energy
Sequent Energy Management
Siemens Financial Services
South Jersey Industries
Starwood Capital Group Management
Stifel Nicolaus & Co.
Tennessee Valley Authority
TD Bank
The Pataki-Cahill Group
Tyr Energy
UBS Investment Bank
Vectren Corporation
Victory Capital Management
Wellington Management Company
West LB
Wood Mackenzie
Xcel Energy Services

Orli Almog
Managing Director, Coral Advisors, LLC

  

Walter Crenshaw
Senior Program Manager, SNL Knowledge Center

Walter is an energy industry professional with 7 years of experience in a variety of risk management and asset optimization roles with specific expertise in energy risk management strategy development and execution. He also bring a strong fundamental and quantitative understanding of physical commodity markets. Capitalizing on his interest in education, he joined SNL Knowledge Center in 2012. He is an experienced trainer and adept communicator, backed by strong finance credentials, including an MA in financial economics and an MBA.

 

Henry Decker
Senior Vice President, Moelis & Company

Henry Decker is a Senior Vice President at Moelis & Company, focused on mergers, acquisitions, divestitures and corporate restructurings within the power, utility, and infrastructure sectors. Prior to Moelis, Mr. Decker was a Vice President in the Mergers and Acquisitions Group at Rothschild, focused on the power, utility and infrastructure sectors. Prior to his experience in the investment banking industry, Mr. Decker was a Senior Financial Analyst at Taro Pharmaceuticals, a Financial Analyst at IBM and a Senior Engineer at BOC Gases.

Mr. Decker holds a Bachelor of Mechanical Engineering degree from the Georgia Institute of Technology and an M.B.A. from Carnegie Mellon University.

 

Russell Ernst
Senior Analyst, Regulatory Research Associates

Russell is a Senior Analyst at Regulatory Research Associates, an SNL Energy affiliate. Russell analyzes regulatory developments in the electric and natural gas utility sector and follows several utility equity securities for the firm's Financial Focus product. Before joining RRA, Russell was a Senior Research Assistant in Standard & Poor’s Corporate Ratings division, focusing on issuers in the retail, gaming and hospitality sectors. He began his career with Deutsche Bank’s OTC Derivatives division.

Russell received a Bachelor of Science from The University at Albany, State University of New York, and a Master of Business Administration from Rutgers Business School. He is a Chartered Financial Analyst and is a member of the New York Society of Security Analysts and the CFA Institute.

James Hempstead
Senior Vice President, Moody's Corp.

  

Ellen Lapson, CFA
Instructor, SNL Knowledge Center

Ellen has more than thirty-five years of experience in the fields of utility credit analysis and infrastructure financing. Prior to forming Lapson Advisory in 2011, she was a Managing Director at Fitch Ratings, where she oversaw ratings criteria and directed fixed-income investor outreach for the Utilities Group. 

In her 17 years at Fitch, Ellen led the credit evaluations or chaired Fitch rating committees for hundreds of North American utilities and projects, from the largest to the smallest entities. She directed and participated in credit assessments of innovative energy technology projects including renewable energy sources, advanced coal plants, new nuclear power plants, and nuclear enrichment. 

In 2010-2011, Ellen chaired Fitch's Corporate Finance Criteria Committee, the group responsible for determining the global criteria and guidelines the agency used to rate corporations, banks and financial institutions, insurers, and global infrastructure projects. 

Ellen has served for eight years as a member of the Electric Power Research Institute's Advisory Council and chaired the Advisory Council. She is a Chartered Financial Analyst and a member of the Wall Street Utility Group. She earned an MBA in accounting from New York University and a BA in literature from Barnard College.

Edward Manheimer
Vice President, Morgan Stanley

Eddie Manheimer joined Morgan Stanley in 2008 and is a Vice President in the Global Power & Utility Group. He has worked on a number of financing and strategic advisory assignments in power and utilities, and focuses on mergers & acquisitions and structured financings with the power & utility and clean technology space.

Prior to joining Morgan Stanley, Eddie worked at Proskauer Rose LLP as a corporate attorney. He received a BA in Philosophy, Politics & Economics from the University of Pennsylvania, a JD from Harvard Law School and an MBA from Columbia Business School.

 

Maurice May
Equity Analyst, Wellington Shields & Co. LLC

Maurice E. May is an equity analyst who has followed electric and gas utilities for three decades with the following firms: Alex. Brown & Sons, Ferris Baker Watts, Gardner & Preston Moss/INVESCO, and Friedman Billings Ramsey & Co. He founded Power Insights in March 2003 in association with Soleil Securities of New York to focus primarily on small- to midcap electric utility companies. Mr. May has a BA from the University of Maryland, and is a member of the CFA Institute, the Providence Society of Financial Analysts, and the CFA Society of Washington.

 

Steve Piper
Associate Director, SNL Energy

Steve Piper, Associate Director, has 20 years experience in the electric power, coal and natural gas business, specializing in market price forecasting, economic feasibility assessment, demand forecasting, and environmental analysis. Prior to joining SNL Energy in 2009, he analyzed North American electricity markets in support of merchant plant feasibility, asset valuation, and price forecasting for Platts. Past engagements have included natural gas supply analysis, LDC fuel procurement analysis, and coal plant environmental compliance strategies. Mr. Piper’s clients have included power plant developers, investment banks, electric utilities, and industrial end users. Mr. Piper earned a BA in history from Grinnell College and an MPM in environmental policy from the University of Maryland, School of Public Affairs.

 

Gary M. Rygh
Managing Director, Barclays

Gary Rygh is a Managing Director within the Power and Utilities Mergers and Acquisitions Group at Barclays Capital, based in New York. The team is responsible for strategic advisory assignments in the power and utility sector. Mr. Rygh joined Barclays Capital in September 2008 from Lehman Brothers. Prior to that, he worked at Morgan Stanley. Mr. Rygh graduated with a Bachelors of Science in Commerce from the University of Virginia in 1995.

 

Thomas J. Serzan
Vice President, Regulatory Research Associates

Tom has a diverse background in the utility industry and is currently responsible for RRA’s Financial Focus Research product which encompasses individual company coverage as well as extensive industry financial studies. Tom rejoined RRA in 2001 after having been at the firm for a period in the mid-1990’s. Tom began his utility career with the New Jersey Board of Public Utilities in 1982, where he was a member Staff in the revenue requirements area, participating in many rate cases. At the BPU, his primary focus was on telephone rate cases and issues surrounding the divestiture of the telephone industry. In 1986, Tom moved over to the financial community when he joined Argus Research, initially following state regulation and later moving into equity coverage of the electric group. From 1989 through the late 1990’s, Tom was a sell-side utility equity research analyst for Gruntal & Company and Nesbitt Burns Securities. From 1998-2001, Tom was a buy-side equity analyst with Merrill Lynch Investment Managers, where he followed the utility and energy group.