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2013 Utility Regulation Conference: Rate Case, ROE and Reliability - December 2013  -  December 9-10, 2013

8:00 am

DAY ONE - Monday, December 9

Registration and continental breakfast open
8:45 am

Welcome and Introductions

Nancy Berlin
Associate Director
SNL Knowledge Center
9:00 am

Keynote Address: Themes in Regulation

Lillian A. Federico
President
Regulatory Research Associates
10:00 am

Networking Break

10:15 am

Current Trends in Rate Cases

  • What are some issues we are seeing in the states regarding ratebase recognition of new investment?
    • How are commissions treating new investment?
    • Are regulators generally authorizing a cash return on CWIP or allowing the utilities to book AFUDC? How are they handling the post-in-service gap? How do these policies impact regulatory lag?
    • What are their thoughts on GAAP vs. IFRS?
  • A survey of Return on Equity trends around the country
    • How politicized is the process becoming given the economic climate?
    • Will states be receptive to changes as interest rates escalate?
    • How are earned returns stacking up vs. allowed returns?
  • How are factors outside utilities’ control affecting revenue realization? What types of expense recovery are commissions prone to disallow?
Paula M. Carmody
People's Counsel
Maryland Office of People's Councel
Russell Ernst
(Moderator)
Senior Financial Analyst
Regulatory Research Associates
Alan D. Felsenthal
Managing Director, Power and Utilities
PricewaterhouseCoopers
John D. Stewart
Assistant Vice President
Concentric Energy Advisors
11:30 am

Effect on M&A

  • How are all of the issues discussed affecting state’s views of M&A?
  • How do state regulators view M&A?
  • Survey of recent transactions, takeaways, best practices
  • Have mergers historically created value for shareholders?
Michael J.B. Carter
(Moderator)
Director
SNL Energy
Edward Finley
Chairman
North Carolina Utilities Commission
David Schwartz
Partner
Latham & Watkins LLP
12:15 pm

Lunch

1:30 pm

Strategy and Recent Trends in FERC Rate Cases

  • How should utilities approach interactions with the FERC?
  • Recent trends in FERC rate cases
  • How to deal with the ROE issue at FERC?
  • The future of incentive rates versus Order 1000, what is the best way to incentivize building transmission?
Alan J. Statman
President and Managing Shareholder
Wright & Talisman
2:45 pm

Networking Break

3:15 pm

Capital Structure of Regulated Utilities

  • Trends in utility credit ratings and their impacts on state commission rate decisions
  • With the expected rise in interest rates, is the traditional capital mix of utilities (high debt-to-equity) going to be harder to maintain?
  • Given the competition from MLPs and REITs, will utilities be able to remain the pre-eminent yield investment?
  • How will the increase in interest rates affect valuations?
Richard W. Cortright, Jr.
Managing Director, U.S. Utilities and Infrastructure Ratings Group
Standard & Poor's
Heike M. Doerr
Senior Research Associate
Robert W. Baird & Co.
5:00 pm

Cocktail Reception

Day One concludes

8:30 am

DAY TWO - Tuesday, December 10

Continental breakfast opens
8:30 am

Opening Remarks

8:45 am

Is Reliability Getting More Expensive?

  • Utilities are dealing with aging infrastructures and mandates to update them
  • What weather trends may persist?
  • Are storms getting stronger in a way that will materially affect utilities’ costs?
  • How are utilities taking advantage of technology to improve the efficiency of existing infrastructure versus replacing it?
Philip E. Mihlmester
Executive Vice President, Global Energy
ICF International
9:30 am

Recovery Mechanisms Outside of Rate Cases

  • How do decoupling mechanisms, rate riders and rate adders all work?
  • Survey discussion of who has existing traditional recovery mechanisms and interesting new applications
  • Discussion of their effectiveness
  • Are they increasing or decreasing in prevalence?
  • How are they doing with handling things like distributed generation?
  • Historically created value for shareholders
Russell Ernst
(Moderator)
Senior Financial Analyst
Regulatory Research Associates
10:30 am

Networking Break

10:45 am

Regulatory Strategies for Success

  • How are companies handling the Resource Planning Process?
    • A discussion of current themes, ideas, and best practices
    • How can you partner with intervenors and other stakeholders for more successful outcomes?
    • How are companies handling the big demand questions – growth, efficiency, distributed generation? 
  • How are companies and states addressing regulatory lag?

  • How are other allowable costs being viewed?
    • Are pension costs getting a bad rap?
    • Attitudes on storm cost recovery, incentive compensation, and demand side management
  • Outreach programs to educate and advance utility issues with state and local officials
Timothy R. Caister
Director, Electric Regulatory Policy
Northern Indiana Public Service Company
Erich Evans
Director, Regulatory Strategy
NiSource Gas Distribution
Lillian A. Federico
(Moderator)
President
Regulatory Research Associates
Kevin M. McGowan
Vice President, Regulatory Affairs
Pepco
12:00 pm

Program Concludes

Nancy Berlin
Associate Director, SNL Knowledge Center
 
Timothy R. Caister
Director, Electric Regulatory Policy, Northern Indiana Public Service Company
 
Paula M. Carmody
People's Counsel, Maryland Office of People's Councel
 
Michael J.B. Carter
Director, SNL Energy
  
Richard W. Cortright, Jr.
Managing Director, U.S. Utilities and Infrastructure Ratings Group, Standard & Poor's
  
Heike M. Doerr
Senior Research Associate, Robert W. Baird & Co.
 
Russell Ernst
Senior Financial Analyst, Regulatory Research Associates
  
Erich Evans
Director, Regulatory Strategy, NiSource Gas Distribution
 
Lillian A. Federico
President, Regulatory Research Associates
  
Alan D. Felsenthal
Managing Director, Power and Utilities, PricewaterhouseCoopers
  
Edward Finley
Chairman, North Carolina Utilities Commission
 
Kevin M. McGowan
Vice President, Regulatory Affairs, Pepco
 
Philip E. Mihlmester
Executive Vice President, Global Energy, ICF International
 
David Schwartz
Partner, Latham & Watkins LLP
  
Alan J. Statman
President and Managing Shareholder, Wright & Talisman
 
John D. Stewart
Assistant Vice President, Concentric Energy Advisors
  
Event Date:
December 9-10, 2013
Event Location:
Washington Marriott at Metro Center
775 12th St NW
Washington, DC, US
Registration Fee:
$1,595 
  • Utility professionals in regulatory affairs, strategic development, corporate finance, and investor relations
  • State and federal regulatory commissioners and staff
  • Financial analysts at investment firms
  • Regulatory attorneys and consultants
Event Date:
December 9-10, 2013
Venue:
Washington Marriott at Metro Center
775 12th St NW
Washington, DC, US
Phone:
(877) 212-5752
Accommodations:
A block of rooms at the Washington Marriott at Metro Center has been reserved for this event at a special rate of $219 per night, exclusive of taxes and fees, for program attendees. The discounted rate is available through November 18, 2013, or until the block is filled, whichever comes first.

Accommodations are not included as part of your registration. To reserve your room, please call the Washington Marriott at Metro Center directly at (877) 212-5752 or (202) 737-2200 and mention the SNL 2013 Utility Regulation Conference.
CFA Institute
8.5 hours of Professional Development Credit
SNL Knowledge Center is registered with CFA Institute as an Approved Provider of continuing education programs. This program is eligible for 8.5 PD credit hours as granted by CFA Institute. If you are a CFA Institute member, PD credit for your attendance at this event will be automatically recorded in your PD Diary.
National Association of State Boards of Accountancy
10.5 hours of CPE Credit
Participants attending this event qualify for 10.5 CPE credit hours (Specialized Knowledge and Applications). Program Level: Intermediate. Delivery Method: Group-Live.SNL Knowledge Center is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 4th Ave N, Ste 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.
Where is the program being held?
The venue is in Washington, DC at the Marriott at Metro Center, 775 12th St NW.  For more information, please visit their website at www.marriott.com/hotels/travel/wasmc
 
Where should I stay?
Information about accommodations can be found under the "Venue and Accommodations" tab at left.
 
Where should I fly into?
The Marriott is most easily reached from Reagan National Airport (4.0 miles). Dulles airport also serves the Washington DC area and is approximately 25 miles from the venue.
 
What is the dress code?
Business casual
 
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 Knowledge Center program within 13 months. Due to commitments and expenses, cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit.

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 Knowledge Center reserves the right to cancel/change programs, content, speakers or venue at any time. SNL Knowledge Center reserves the right to make portions of the program registration information available to program sponsors. SNL Knowledge Center 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, SNL Knowledge Center will refund the registrant's tuition in full, however SNL Knowledge Center will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding SNL Knowledge Center's refund, complaint or program cancellation policy, please call us at (434) 951-7786.

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