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DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
JonathanA.Lesser,Ph.D.President
SUMMARYOFEXPERIENCE
Dr. Jonathan Lesser is the President of Continental Economics, Inc., and has over 25yearsof experienceworking for regulatedutilities, governments, and as an economicconsultant. He has extensive experience in valuation and damages analysis, fromestimatingthedamagesassociatedwithbreakingcommercialleasestovaluingnuclearpower plants. Dr. Lesser has performed due diligence studies for investment banks,testifiedongeneratingplantstrandedcosts,assesseddamagesincommerciallitigationcases,andperformedstatisticalanalysisforclasscertification.Hehasalsoservedasanarbiterincommercialdamagesproceedings.
Hehasanalyzedeconomicandregulatoryissuesaffectingtheenergyindustry,includingcost‐benefitanalysisoftransmission,generation,anddistribution investment,gasandelectricutilitystructureandoperations,generatingassetvaluationunderuncertainty,mergersandacquisitions,costallocationandratedesign,resourceinvestmentdecisionstrategies, cost of capital, depreciation, risk management, incentive regulation,economicimpactstudiesofenergyinfrastructuredevelopment,andgeneralregulatorypolicy.
Dr. Lesser has prepared expert testimony and reports in cases before utilitycommissions in numerous U.S. states; before the Federal Energy RegulatoryCommission (FERC); before international regulators in Latin America and theCaribbean; in commercial litigation cases; and before legislative committees inConnecticut,Maryland,NewJersey,Ohio,Texas,Vermont,andWashingtonState.Hehasalso served as an independent arbiter in disputes involving regulatory treatment ofutilitiesandvaluationofenergygenerationassets.
Dr.Lesser is theauthorofnumerousacademicandtradepressarticles.He isalsothecoauthorofEnvironmentalEconomicsandPolicy,publishedin1997byAddisonWesleyLongman, Fundamentals of Energy Regulation, published in 2007 by Public UtilitiesReports, Inc., andPrinciplesofUtilityCorporateFinance, published in 2011 by PublicUtilitiesReports, Inc. Dr. Lesser is also a contributing columnist andEditorialBoardmemberforNaturalGas&Electricity.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
AREASOFEXPERTISE
• State,federal,andinternationalrateregulation–costofcapital,depreciation,costofservice,costallocation,ratedesign,incentiveregulation,andregulatoryframeworkdesign
• Commercialdamagesestimationandlitigation• Cost‐benefitanalysis• Regulatorypolicyandmarketdesign• Economicimpactanalysisandinput‐outputstudies• Environmentalcomplianceandlitigation• Marketpoweranalysis• Loadforecastingandenergymarketmodeling• Energyassetvaluationandduediligence
SELECTEDEXPERTTESTIMONYANDREPORTS
FirstEnergySolutionsCorp.
ProceedingbeforetheOhioPublicUtilitiesCommission(CaseNos.11‐346‐EL‐SSOand11‐348‐EL‐SSO)
Subject:RevisedAEPOhioenergysecurityplan,benefitsofretailmarketcompetition.
ProceedingbeforetheOhioPublicUtilitiesCommission(CaseNo.10‐2929‐EL‐UNC)
Subject:AppropriatepriceforcommercialretailelectricsupplierstobechargedbyAEPOhioforinstalledcapacityunderthePJMFixedResourceRequirementtariffoption.
SouthwesternElectricCooperative
FERCproceedingregardingwholesaledistributionrateapplicationofAmerenIllinois(Re:MidwesternISOandAmerenIllinois,DocketNo.ER11‐2777‐002,etal.)
Subject:Allowedrateofreturnandcapitalstructure
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
ExelonCorporation
ProceedingbeforetheNewJerseyBoardofPublicUtilities(DocketNo.EO‐11050309)
Subject:PJMCapacityMarket,CapacityProcurement,andTransmissionPlanning
FirstEnergySolutionsCorp.
ProceedingbeforetheOhioPublicUtilitiesCommission(CaseNos.11‐346‐EL‐SSOand11‐348‐EL‐SSO)
Subject:AEPOhioenergysecurityplan,benefitsofretailmarketcompetition.
IndustrialEnergyUsersofOhio
ProceedingbeforetheOhioPublicUtilitiesCommission(CaseNo.08‐917‐EL‐SSO)
Subject:Determinationofcostassociatedwith“provider‐of‐last‐resort”(POLR)serviceandAEPOhio’suseofoptionpricingmodels.
SouthwestGasCorporation
FERCproceedingregardingrateapplicationofElPasoNaturalGasCompany(DocketNo.RP10‐1398‐000)
Subject:Developmentofrisk‐sharingmethodologyforunsubscribedanddiscountcapacitycosts.
PortlandNaturalGasShippers
FERCrateproceedingregardingtherateapplicationbyNorthernBorderPipelineCompany(Re:PortlandNaturalGasTransmissionSystem,DocketNo.RP10‐729‐000)
FERCrateproceedingregardingtherateapplicationbyNorthernBorderPipelineCompany(Re:PortlandNaturalGasTransmissionSystem,DocketNo.RP08‐306‐000)
Subject:Naturalgassupplies,economiclifetime,anddepreciationrates.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
IndependentPowerProducersofNewYork
FERCproceeding(NewYorkIndependentSystemOperator,Inc.,DocketNo.ER11‐2224‐000)
Subject:ReasonablenessoftheproposedinstalledcapacitydemandcurvesandcostofnewentryvaluesproposedbytheNewYorkIndependentSystemOperator.
MarylandPublicServiceCommission
MergerapplicationofFirstEnergyCorporationandAlleghenyEnergy,Inc.(I/M/OFirstEnergyCorpandAlleghenyEnergy,Inc.,CaseNo.9233)
Subject:ProposedmergerbetweenFirstEnergyCorporationandAlleghenyEnergy.Testimonydescribedthestructureandresultsofacost‐benefitanalysistodeterminewhethertheproposedmergermetthestate’spositivebenefitstest,andincludedanalysisofmarketpowerandmergersynergies.
AlliancetoProtectNantucketSound
ProceedingbeforetheMassachusettsDepartmentofPublicUtilities(CaseNo.D.P.U.10‐54)
Subject:ApprovalofProposedLong‐TermContractsforRenewableEnergyWithCapeWindAssociates,LLC.
BrookfieldEnergyMarketing,LLC
FERCproceeding(NewEnglandPowerGeneratorsAssociation,etal.v.ISONewEngland,Inc.,DocketNos.ER10‐787‐000,ER10‐50‐000,andEL10‐57‐000(consolidated)).
Subject:ProposedforwardcapacitymarketpaymentsforimportedcapacityintoISO‐NE.
PublicServiceCompanyofNewMexico
ProceedingbeforetheNewMexicoPublicRegulationCommission(CaseNo.10‐00086‐UT)
Subject:Loadforecastforfuturetestyear,residentialpriceelasticitystudy.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
M‐S‐RPublicPowerAgency
FERCproceeding(SouthernCaliforniaEdisonCo.,DocketNo.ER09‐187‐000andER10‐160‐000)
Subject:Allowedrateofreturnforconstructionworkinprogress(CWIP)expendituresforcertaintransmissionfacilities.
FERCproceeding(SouthernCaliforniaEdisonCo.,DocketNo.ER10‐160‐000)
Subject:Allowedrateofreturnforconstructionworkinprogress(CWIP)expendituresforcertaintransmissionfacilities.
FinancialMarketers
FERCproceeding(BlackOakEnergy,LLCvPJMInterconnection,L.L.C.,DocketNo.EL08‐014‐002)
Subject:AllocationofsurplustransmissionlinelossesunderthePJMtariff.
SouthwestGasCorporationandSaltRiverProject
FERCproceedingregardingrateapplicationofElPasoNaturalGasCompany(DocketNo.RP08‐426‐000)
Subject:Analysisofproposedcapitalstructureandrecommendedcapitalstructureadjustments
NewYorkRegionalInterconnect,Inc.
ProceedingbeforetheNewYorkPublicServiceCommission(CaseNo.06‐T‐0650)
Subject:Analysisofeconomicandpublicpolicybenefitsofaproposedhigh‐voltagetransmissionline.
OccidentalChemicalCorporation
FERCProceeding(WestarEnergy,Inc.ER07‐1344‐000)
Subject:ComplianceofwholesalepowersalesagreementwithFERCstandards
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
EPICMerchantEnergy,LLC,etal.
FERCProceeding(AmerenServicesCompanyv.MidwestIndependentSystemOperator,Inc.,DocketNos.EL07‐86‐000,EL07‐88‐000,EL07‐92‐000(Consolidated)
Subject:Allocationofrevenuesufficiencyguaranteecosts.
CottonwoodEnergy,LP
ProceedingbeforethePublicUtilityCommissionofTexas(ApplicationofKelsonTransmissionCompany,LLCforaCertificateofConvenienceandNecessityfortheAmendedProposedCanaltoDeweyville345kVTransmissionLinewithChambers,Hardin,Jasper,Jefferson,Liberty,Newton,andOrangeCounties,DocketNo.34611,SOAHDocketNo.473‐08‐3341)
Subject:Benefitsoftransmissioncapacityinvestments.
RedbudEnergy,LP
ProceedingbeforetheOklahomaCorporationCommission(RequestofPublicServiceCompanyofOklahomafortheOklahomaCorporationCommissiontoRetainanIndependentEvaluator,CauseNo.PUD200700418)
Subject:ReasonablenessofPSO’s2008RFPdesign.
TheNRGCompanies
FERCProceeding(ISONewEnglandInc.andNewEnglandPowerPool,DocketNo.ER08‐1209‐000)
Subject:CompensationofRejectedDe‐listBidsUnderISO‐NE’sForwardCapacityMarketDesign
DynegyPowerMarketing,LLC
• FERCproceeding,KeySpan‐Ravenswood,LLCv.NewYorkIndependentSystemOperator,Inc.,DocketNo.EL05‐17‐000
Subject:EstimationofdamagesaccruingtoDynegyarisingfromafailurebytheNYISOtoaccuratelycalculatelocationalinstalledcapacityrequirementsinNYISOduringthesummerof2002.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
ConstellationEnergyGroup
FERCproceeding(MarylandPublicUtilityCommission,etal.,v.PJMInterconnection,LLC,DocketNo.EL08‐67‐000)
Subject:“Justandreasonableness”ofPJM’sReliabilityPricingMechanism.
GovernmentofBelize,PublicUtilityCommission
ProceedingbeforetheBelizePublicUtilityCommission,IntheMatterofthePublicUtilitiesCommissionInitialDecisioninthe2008AnnualReviewProceedingforBelizeElectricityLimited.
Subject:ArbitrationandIndependentExpert’sreport,indisputebetweentheBelizePUCandBelizeElectricityLimitedinanannualelectricratetariffreview,asrequiredunderBelizelaw.
FederalEnergyRegulatoryCommission
Technicalhearingsonwholesaleelectriccapacitymarketdesign.
Subject:AnalysisofproposaltoreviseRTOcapacitymarketdesigndevelopedbytheAmericanForestandPaperAssociation.
DogwoodEnergy,LLC
ProceedingbeforetheMissouriPublicServiceCommission,IntheMatteroftheApplicationofAquila,Inc.,d/b/aAquilaNetworks‐MPSandAquilaCaseNo.EO‐2008‐0046,Networks‐L&PforAuthoritytoTransferOperationalControlofCertainTransmissionAssetstotheMidwestIndependentTransmissionSystemOperator,Inc.,CaseNo.EO‐2008‐0046.
Subject:Cost‐benefitanalysistodeterminewhetherAquilashouldjoineithertheMidwestIndependentSystemOperator(MISO)ortheSouthwestPowerPool(SPP).
IndependentPowerProducersofNewYork
• FERCproceeding(Re:NewYorkIndependentSystemOperator,Inc.,DocketNo.ER08‐283‐000)
Subject:Revisionstotheinstalledcapacity(ICAP)marketdemandcurvesintheNewYorkcontrolarea,whicharedesignedtoprovideeconomicincentivesfornewgenerationdevelopment.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
EmpresaEléctricadeGuatemala
• RateproceedingbeforetheComisiónNacionaldeEnergíaEléctrica
Subject:Rateofreturnforanelectricdistributioncompany
ElectricPowerSupplyAssociation
• FERCproceeding(Re:MidwestIndependentTransmissionSystemOperator,Inc.,DocketNo.ER07‐1182‐000)
Subject:Critiqueofcost‐benefitanalysisbyMISOIndependentMarketMonitorconcludingthatpermanentestablishmentofBroadConstrainedAreamitigationwasappropriate.
ConstellationEnergyCommoditiesGroup,LLC
• FERCproceedingregardingrateapplicationforancillaryservicesbyAmerenEnergy(Re:AmerenEnergyMarketingCompanyandAmerenEnergy,Inc.,DocketNos.ER07‐169‐000andER07‐170‐000)
• Subject:Analysisandtestimonyonappropriate“opportunitycost”ratesforancillaryservices,includingregulationserviceandspinningreserveservice.Casesettledpriortotestimonybeingfiled.
SuizaDairyCorporation
• RateproceedingbeforetheOfficeofMilkIndustryRegulatoryAdministrationofPuertoRico.
• Subject:AnalysisandtestimonyontheappropriaterateofreturnforregulatedmilkprocessorsintheCommonwealthofPuertoRico.
DPLInc.
• ProceedingbeforetheOhioBoardofTaxAppeals(DPL,Inc.anditssubsidiariesv.WilliamW.Wilkins,TaxCommissionerofOhio,CaseNo.2004‐A‐1437)
Subject:Economicimpactsofgenerationinvestmentandqualificationofelectricutilityinvestmentsas“manufacturing”investmentsforpurposesofstateinvestmenttaxcredits.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
IGIResources,LLCandBPCanadaEnergyMarketingCorp.
• FERCproceedingregardingtherateapplicationbyGasTransmissionNorthwestCorporation(Re:GasTransmissionNorthwest,DocketNo.RP06‐407‐000)
Subject:Naturalgassupplies,economiclifetime,anddepreciationrates.
BaltimoreGasandElectricCo.
• MarylandPublicServiceCommission(CaseNo.9099)
Subject:StandardOfferServicepricing.Testimonyfocusedonfactorsdrivingelectricpriceincreasessince1999,andestimatesofratesundercontinuedregulation
• MarylandPublicServiceCommission(CaseNo.9073)
Subject:Strandedcostsofgeneration.Testimonyfocusedonanalysisofbenefitsofcompetitivewholesalepowerindustry.
• MarylandPublicServiceCommission(CaseNo.9063)
Subject:OptimalstructureofMaryland’selectricindustry.Testimonyfocusedonthebenefitsofcompetitivewholesaleelectricmarkets.Presentedindependentestimatesofbenefitsofrestructuringsince1999.
Pemex‐GasyPetroquímicaBásica
• Expertreportinarateproceeding.PresentedanalysisbeforetheComisiónReguladoradeEnergíaontheappropriaterateofreturnforthenaturalgaspipelineindustry.
BPCanadaMarketingCorp.
• FERCproceedingregardingtherateapplicationbyNorthernBorderPipelineCompany(Re:NorthernBorderPipeline,DocketNo.RP06‐072‐000)
Subject:Naturalgassupplies,economiclifetime,anddepreciationrates.
TransmissionAgencyofNorthernCalifornia
• FERCrateproceeding(Re:PacificGas&ElectricCompany,DocketNo.ER09‐1521‐000)
Subject:Analysisofappropriatereturnonequity,capitalstructure,andoverallcostofcapital.Casesettledpriortofilingexperttestimony.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
• FERCrateproceeding(Re:PacificGas&ElectricCompany,DocketNo.ER08‐1318‐000)
Subject:Analysisofappropriatereturnonequity,capitalstructure,andoverallcostofcapital.Casesettledpriortofilingexperttestimony.
• FERCrateproceeding(Re:PacificGas&ElectricCompany,DocketNo.ER07‐1213‐000)
Subject:Analysisofappropriatereturnonequity,capitalstructure,andoverallcostofcapital.Casesettledpriortofilingexperttestimony.
• FERCrateproceeding(Re:PacificGas&ElectricCompany,DocketNo.ER06‐1325‐000)
Subject:Analysisofappropriatereturnonequity,capitalstructure,andoverallcostofcapital.Casesettledpriortofilingexperttestimony.
• FERCrateproceeding(Re:PacificGas&ElectricCompany,DocketNo.ER05‐1284‐000)
Subject:Analysisofappropriatereturnonequity,capitalstructure,andoverallcostofcapital.Casesettledpriortofilingexperttestimony.
• FERCrateproceeding(Re:PacificGas&ElectricCompany,DocketNos.ER03‐409‐000,ER03‐666‐000)
Subject:Analysisanddevelopmentofrecommendationfortheappropriatereturnonequity,capitalstructure,andoverallcostofcapital.
StateofNewJerseyBoardofPublicUtilities
• MergerapplicationofPublicServiceEnterpriseGroupandExelonCorporation(I/M/OTheJointPetitionOfPublicServiceElectricAndGasCompanyAndExelonCorporationForApprovalOfAChangeInControlOfPublicServiceElectricAndGasCompanyAndRelatedAuthorizations,BPUDocketNo.EM05020106,OALDocketNo.PUC‐1874‐050)
Subject:ProposedmergerbetweenExelonCorporationandPSEGCorporation.Testimonydescribedthestructureandresultsofacost‐benefitanalysistodeterminewhethertheproposedmergermetthestate’spositivebenefitstest,andincludedanalysisofmarketpower,valueofchangesinnuclearplantoperations,andmergersynergies.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
SierraPacificPowerCorp.
• FERCproceedingregardingtherateapplicationbyPaiutePipelineCompany(RePaiutePipelineCompanyDocketNo.RP05‐163‐000)
Subject:Depreciationanalysis,negativesalvage,andnaturalgassupplies.Casesettledpriortofilingexperttestimony.
MatanuskaElectric
• RegulatoryCommissionofAlaskarateproceeding(IntheMatteroftheRevisiontoCurrentDepreciationRatesFiledbyChugachElectricAssociation,Inc.,DocketNo.U‐04‐102)
Subject:AnalysisofthereasonablenessofChugachelectric’sdepreciationstudy.
DukeEnergyNorthAmerica,LLC
• FERCproceeding(Re:DevonPower,LLC,etal.,DocketNo.ER03‐563‐030)
Subject:AppropriatemarketdesignforlocationalinstalledgeneratingcapacityintheNewEnglandmarkettoensuresystemreliability.
Keyspan‐Ravenswood,LLC
• FERCproceeding,KeySpan‐Ravenswood,LLCv.NewYorkIndependentSystemOperator,Inc.,DocketNo.EL05‐17‐000
Subject:EstimationofdamagesarisingfromafailurebytheNYISOtoaccuratelycalculatelocationalinstalledcapacityrequirementsinNewYorkCityduringthesummerof2002.
ElectricPowerSupplyAssociation
• FERCproceeding(Re:PJMInterconnection,LLC,DocketNo.EL03‐236‐002)
Subject:AnalysisandcritiqueofproposedpivotalsuppliertestsformarketpowerinPJMidentifiedloadpockets.
VermontDepartmentofPublicService
• VermontPublicServiceBoardRateProceedings
o Concurrentproceedings:Re:GreenMountainPowerCorp.,DocketsNo.7175and7176.Subject:Costofcapitalandallowedreturnonequity
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
undercostofserviceregulation,aswellasunderaproposedalternativeregulationproposal.
o Re:ShorehamTelephoneCompany,DocketNo.6914.Subject:Analysisanddevelopmentofrecommendationsfortheappropriatereturnonequity,capitalstructure,andoverallcostofcapital.
o Re:VermontElectricPowerCompany,DocketNo.6860.Subject:Developmentofaleast‐costtransmissionsysteminvestmentstrategytoanalyzetheprudenceofamajorhigh‐voltagetransmissionsystemupgradeproposedbytheVermontElectricPowerCompany.
o Re:CentralVermontPublicServiceCompany,DocketNo.6867.Subject:Analysisanddevelopmentofrecommendationsfortheappropriatereturnonequity,capitalstructure,andoverallcostofcapital.
o Re:GreenMountainPowerCorporation,DocketNo.6866.Subject:Analysisanddevelopmentofrecommendationsfortheappropriatereturnonequity,capitalstructure,andoverallcostofcapital.
Pipelineshippers
• FERCproceedingregardingtherateapplicationofNorthernNaturalGasCompany(Re:NorthernNaturalGasCompany,DocketNo.RP03‐398‐000)
Subject:Gassupplyanalysistodeterminepipelinedepreciationratesaspartofanoverallrateproceeding.
ArkansasOklahomaGasCorp.
• OklahomaCorporationCommissionrateproceeding(Re:ArkansasOklahomaGasCorporation,DocketNo.03‐088)
Subject:Analysisanddevelopmentofrecommendationsfortheappropriatereturnonequity,capitalstructure,andoverallcostofcapital.
• ArkansasPublicServiceCommissionrateproceedings
o IntheMatteroftheApplicationofArkansasOklahomaGasCorporationforaGeneralChangeinRatesandTariffs,DocketNo.05‐006‐U.Subject:Analysisanddevelopmentofrecommendationsfortheappropriatereturnonequity,capitalstructure,andoverallcostofcapital.
o IntheMatteroftheApplicationofArkansasOklahomaGasCorporationforaGeneralChangeinRatesandTariffs,DocketNo.02‐24‐U.Subject:Analysisand
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
developmentofrecommendationsfortheappropriatereturnonequity,capitalstructure,andoverallcostofcapital.
EntergyNuclearVermontYankee,LLC
• VermontPublicServiceBoardproceeding(Re:PetitionofEntergyNuclearVermontYankeeforaCertificateofPublicGood,DocketNo.6812)
Subject:AnalysisoftheeconomicbenefitsofnuclearplantgeneratingcapacityexpansionasrequiredforanapplicationforaCertificateofPublicGood.
CentralIllinoisLightingCompany
• IllinoisCommerceCommissionrateproceeding(Re:CentralIllinoisLightingCompany,DocketNo.02‐0837)
Subject:Analysisanddevelopmentofrecommendationsfortheappropriatereturnonequity,capitalstructure,andoverallcostofcapital.
CitizensUtilitiesCorp.
• VermontPublicServiceBoardrateproceeding(TariffFilingofCitizensCommunicationsCompanyrequestingarateincreaseintheamountof40.02%totakeeffectDecember15,2001,DocketNo.6596)
Subject:Analysisoftheprudenceandeconomicused‐and‐usefulnessofCitizens’long‐termpurchaseofgenerationfromHydroQuebec,includingtheestimatedenvironmentalcostsandbenefitsofthepurchase.
DynegyLNGProduction,LP
• FERCproceeding(Re:DynegyLNGProductionTerminal,LP,DocketNo.CP01‐423‐000).September2001
Subject:AnalysisofmarketpowerimpactsofproposedLNGfacilitydevelopment.
MissouriGasEnergyCorp.
• FERCrateproceeding(Re:KansasPipelineCorporation,DocketNo.RP99‐485‐000)
Subject:Gassupplyanalysistodeterminepipelinedepreciationratesaspartofanoverallrateproceeding.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
GreenMountainPowerCorp.
• VermontPublicServiceBoardrateproceedings
o IntheMatterofGreenMountainPowerCorporationrequestinga12.93%RateIncreasetotakeeffectJanuary22,1999,DocketNo.6107.Subject:Analysisoftheappropriatediscountrate,treatmentofenvironmentalcosts,andthetreatmentofriskanduncertaintyaspartofamajorpower‐purchaseagreementwithHydro‐Quebec.
o InvestigationintotheDepartmentofPublicService’sProposedEnergyEfficiencyUtility,DocketNo.5980.Subject:Analysisofdistributedutilityplanningmethodologiesandenvironmentalcosts.
o TariffFilingofGreenMountainPowerCorporationrequestinga16.7%RateIncreasetotakeeffect7/31/97,DocketNo.5983.Subject:Analysisofdistributedutilityplanningmethodologiesandavoidedelectricitycosts.
o TariffFilingofGreenMountainPowerCorporationrequestinga16.7%RateIncreasetotakeeffect7/31/97,DocketNo.5983.Subject:Valuationofalong‐termpowerpurchasecontractwithHydro‐Quebecinthecontextofadeterminationofprudenceandeconomicused‐and‐usefulness.
UnitedIlluminatingCompany
• ConnecticutDept.ofPublicUtilityControlproceeding(ApplicationoftheUnitedIlluminatingCompanyforRecoveryofStrandedCosts,DocketNo.99‐03‐04)
Subject:Developmentandapplicationofdynamicprogrammingmodelstoestimatenuclearplantstrandedcosts.
COMMERCIALLITIGATIONEXPERIENCE
• U.S.DistrictCourt,DistrictofPuertoRico,CivilCaseNo.04‐1840.(VacqueriaTresMonjitasandSuizaDairy,Inc.v.JoseO.Laboy,inhisOfficialcapacity,astheSecretaryoftheDepartmentofAgriculturefortheCommonwealthofPuertoRico,andJuanR.Pedro‐Gordian,inhisofficialcapacity,asAdministratoroftheOfficeoftheMilkIndustryRegulatoryAdministrationfortheCommonwealthofPuertoRico)Determinedtheappropriate“countryrisk”premiumforthefreshmilkdairyindustryintheCommonwealthofPuertoRico.
• Lorali,Ltd.,etal.v.SempraEnergySolutions,LLC,etal.Damagesassociatedwithabrogationofretailelectricsupplycontract.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
• IMOIndustriesv.Transamerica.Estimatedtheappropriatediscountratetouseforestimatingdamagesovertimeassociatedwithafailureoftheinsurancecompaniestoreimburseasbestos‐relateddamageclaimsandtheresultinglossestothefirm’svalue.
• JohnC.LincolnHospitalv.MaricopaCounty.Performedstatisticalanalysistodeterminethevalueofaclassofunpaidhospitalinsuranceclaims.
• Catamount/Brownell,LLC.v.RandyRowland.Preparedanexpertreportonthedamagesassociatedwithbreachofcommerciallease.
• Lyubnerv.SizzlingPlatters,Inc..Performedaneconometricanalysisofdamageclaimsbasedonsalesimpactsassociatedwithadvertising.
• Pietrov.Pietro.Estimatedpensionbenefitsarisingfromadivorcecase.
• U.S.DistrictCourtfortheDistrictofVermont.Nat’l.AssociationofElectricManufacturersv.Sorrell.Expertreportandtestimonyonthecostsoflabelingfluorescentlampsandtheimpactsoflabelinglawsonthedemandforelectricity.
ARBITRATIONCASES
TransCanadaHydroNortheast,Inc.v.TownofLittleton,NewHampshire,(CPRFileNo.G‐09‐24).
Subject:disputeregardingvaluationforpropertytaxpurposesofahydroelectricfacilitylocatedontheConnecticutRiver.
Servedasneutralonathree‐personarbitrationpanel.
BelizeElectricityLimitedv.BelizePublicUtilitiesCommission(ClaimNo.512of2008).
Subject:ProceedingbeforetheSupremeCourtofBelizeallegingthattheFinalDecisionbytheBelizePublicUtilitiesCommissionsettingelectricratesandtariffsforthe2008‐2009periodwereunreasonableandnon‐compensatory.
PreparedindependentreportonbehalfoftheBelizeSupremeCourtforarbitrationofthedispute.
DocketNo.11‐035‐200UIECExh.__(JAL‐1)
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
SELECTEDBUSINESSCONSULTINGEXPERIENCE
• FortheCOMPETECoalition,preparedreportonhowelectriccompetitioncreateseconomicgrowth.
• Foranindustrygroup,developedeconometricmodelsoftheimpactsofshalegasproductiononU.S.naturalgasandelectricprices.
• Foranenvironmentaladvocacygroup,criticallyevaluatedthefinancialimplicationsofoperatingrestrictionsforanoff‐shorewindgeneratingfacilitystemmingfromrequirementsundertheU.S.EndangeredSpeciesAct.
• Foramajorinvestor‐ownedutilityintheUS,preparedanewsystemofshort‐termpeakandenergyforecastingmodels.
• Foramajorwholesaleelectricgenerationcompany,preparedcomprehensiveeconomicimpactstudiesforuseinFERChydroelectricrelicensingproceedings.
• Foramajorinvestor‐ownedutilityintheSouthwestUS,preparedadetailedeconometricmodelandwroteacomprehensivereportonresidentialpriceelasticitythatwasrequiredbyregulators.
• Foramajorinvestor‐ownedutilityintheSouthwestUS,developedamethodologytovaluenuclearplantleasesthatincorporatedfutureuncertaintyregardinggreenhousegasregulations.
• Facultymember,PURC/WorldBankInternationalTrainingProgramonUtilityRegulationandStrategy,UniversityofFlorida,PublicUtilityResearchCenter,Gainesville,FL,2008–2009.Coursestaught:
o SectorIssues:BasicTechniques–Energyo SectorIssuesinRateDesign:Energyo SectorIssuesinRateDesign:Energy–CaseStudieso TransmissionPricingIssues
• Foramajorsolarenergyfirm,evaluatedcostsandbenefitsofalternativesolartechnologies;assistedwithsitingandtransmissionaccessissues.
• ForindustrialcustomersintheStateofVermont,preparedapositionpaperontheimpactsofdemandsidemanagementfundingonelectricratesandcompetitiveness.
• ForamajorNewYorkbrokeragefirm,performedafairnessopinionvaluationofagas‐firedelectricgeneratingfacility.
• Forelectricutilitiesundergoingrestructuring,developedcomprehensiveeconomicmodelstovaluebuyeroffersassociatedwithnuclearpowerplantdivestitures.
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
• ForalargemunicipalelectricutilityinFlorida,analyzedrealoptionvaluesofalternativeproposedpurchasedgenerationcontractswhosestrikepricesweretiedtofuturenaturalgasandoilprices,anddevelopedcontractrecommendations.
• ForamunicipalelectricutilityinFlorida,developedananalyticalmodeltodeterminerisk‐returntradeoffsofalternativegenerationportfolios,identifyanefficientfrontierofgenerationassetportfolios,andrecommendedassetpurchaseandsalestrategies.
• ForCentralVermontPublicServiceCorp.andGreenMountainPowerCorp.,developedanalysesofdistributioncapacityinvestmentsaccountingforuncertaintyoverfuturepeakloadgrowth.
• ForamajorelectricutilityinLatinAmerica,developedriskmanagementstrategiesforhedgingnaturalgassupplieswithminimalup‐frontinvestment;preparedtrainingmaterialsforutilitystaff;andwrotetheutility’sriskmanagementPoliciesandProceduresManual.
• ForamajornuclearplantownerandoperatorintheU.S.,preparedreportsoftheeconomicbenefitsofnuclearplantoperationanddevelopment.
• FortheElectricPowerSupplyAssociation,preparednumerouspolicypapersaddressingwholesaleelectricmarketdesignandcompetition.
• FortheCaliforniaEnergyCommission,developedanewpolicyapproachtorenewablesfeed‐intariffsanddevelopedportfolioanalysismodelstodevelopan“efficientfrontier”ofgenerationportfoliosforthestate.
• Foramajornuclearplantownerandoperator,assessedthelikelihoodofrelicensingaspecificnuclearplantinNewEngland,givenstateregulatoryconcernsoveron‐sitespentfuelstorage.
• Foralargeinvestor‐ownedutilityintheSoutheast,analyzedalternativeenvironmentalcompliancestrategiesthatdirectlyincorporateduncertaintyoverfutureemissionscosts,environmentalregulations,andalternativepollutioncontroltechnologyeffectiveness.
• ForaSpecialLegislativeCommitteeoftheProvinceofNewBrunswick,servedasanexpertadvisoronthedevelopmentofaderegulatedelectricpowermarket.
• FortheBonnevillePowerAdministration,developedmodelstoassesstheeconomicimpactsoflocalgenerationresourcedevelopmentinWashingtonStateandOregon.
• ForanelectricutilityinthePacificNorthwest,assistedinnegotiationssurroundingrelicensingofalargehydroelectricgeneratingfacility.
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
• ServedasanexpertadvisorfortheNorthwestPowerPlanningCouncilregardingfuturepowersupplies,loadgrowth,andeconomicgrowth.
EDUCATION
• PhD,Economics,UniversityofWashington
• MA,Economics,UniversityofWashington
• BSc,MathematicsandEconomics(withhonors),UniversityofNewMexico
EMPLOYMENTHISTORY
2009–Present:ContinentalEconomics,Inc.,President.
2004–2009:BatesWhite,LLC,Partner,EnergyPractice.
2003–2004:VermontDept.ofPublicService,DirectorofPlanning.
1998–2003:NavigantConsulting,SeniorManagingEconomist.
1996–1998:AdjunctLecturer,SchoolofBusiness,UniversityofVermont.
1993–1998:GreenMountainPowerCorporation,Manager,EconomicAnalysis.
1990–1993:AdjunctLecturer,Dept.ofBusinessandEconomics,SaintMartin’sCollege.
1986–1993:WashingtonStateEnergyOffice,EnergyPolicySpecialist.
1984–1986:PacificNorthwestUtilitiesConferenceCommittee,EnergyEconomist.
1983–1984:IdahoPowerCorporation,LoadForecastingAnalyst.
PROFESSIONALACTIVITIES
• Reviewer,Energy
• Reviewer,TheEnergyJournal
• Reviewer,EnergyPolicy
• Reviewer,JournalofRegulatoryEconomics
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
PROFESSIONALASSOCIATIONS
• EnergyBarAssociation
• InternationalAssociationforEnergyEconomics
• SocietyforBenefit‐CostAnalysis
PUBLICATIONS
Peer‐reviewedjournalarticles
• Lesser,J.,“Gresham’sLawofGreenEnergy,”Regulation,Winter2010‐2011,pp.12‐18.
• Lesser,J.,andE.Nicholson,“AbandonallHope?FERC’sEvolvingStandardsforIdentifyingComparableFirmsandEstimatingtheRateofReturn,”EnergyLawJournal30(April2009):105‐132.
• Lesser,J.andX.Su.“DesignofanEconomicallyEfficientFeed‐inTariffStructureforRenewableEnergyDevelopment.”EnergyPolicy36(March2008)981–990.
• Lesser,J.“TheEconomicUsed‐and‐UsefulTest:ItsOriginsandImplicationsforaRestructuredElectricIndustry.”EnergyLawJournal23(November2002):349–82.
• Lesser,J.,andC.Feinstein.“ElectricUtilityRestructuring,RegulationofDistributionUtilities,andtheFallacyof‘AvoidedCost’Rules.”JournalofRegulatoryEconomics15(January1999):93–110.
• Lesser,J.,andC.Feinstein.“DefiningDistributedUtilityPlanning.”TheEnergyJournal,SpecialIssue,DistributedResources:TowardaNewParadigm(1998):41–62.
• Lesser,J.,andR.Zerbe.“WhatCanEconomicAnalysisContributetotheSustainabilityDebate?”ContemporaryPolicyIssues13(July1995):88–100.
• Lesser,J.,andR.Zerbe.“TheDiscountRateforEnvironmentalProjects.”JournalofPolicyAnalysisandManagement13(Winter1994):140–56.
• Lesser,J.,andD.Dodds.“CanUtilityCommissionsImproveonEnvironmentalRegulations?”LandEconomics70(February1994):63–76.
• Lesser,J.“EstimatingtheEconomicImpactsofGeothermalResourceDevelopment.”Geothermics24(Winter1994):52–69.
• Lesser,J.“ApplicationofStochasticDominanceTeststoUtilityResourcePlanningUnderUncertainty.”Energy15(December1990):949–61.
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• Lesser,J.“ResaleoftheColumbiaRiverTreatyDownstreamPowerBenefits:OneRoadFromHeretoThere.”NaturalResourcesJournal30(July1990):609–28.
• Lesser,J.,andJ.Weber.“The65M.P.H.SpeedLimitandtheDemandforGasoline:ACaseStudyfortheStateofWashington.”EnergySystemsandPolicy13(July1989):191–203.
• Lesser,J.“TheEconomicsofPreferencePower.”ResearchinLawandEconomics12(1989):131–51.
Booksandcontributedchapters
• Lesser,J.,andL.R.Giacchino,PrinciplesofUtilityCorporateFinance,Vienna,VA:PublicUtilitiesReports,2011.
• Lesser,J.,andL.R.Giacchino.FundamentalsofEnergyRegulation,Vienna,VA:PublicUtilitiesReports,2007.
• Lesser,J.,andR.Zerbe.“APractitioner’sGuidetoBenefit‐CostAnalysis.”InHandbookofPublicFinance,editedbyF.Thompson,221–68.NewYork:RowanandAllenheld,1998.
• Lesser,J.,D.Dodds,andR.Zerbe.EnvironmentalEconomicsandPolicy,Reading:MA:AddisonWesleyLongman,1997.
Tradepresspublications
• Lesser,J.“HowwillEPA’sNewestRegulationsAffectElectricMarkets?”NaturalGasandElectricity(June2012):30‐32.
• Lesser,J.“PipelinePetulance,”NaturalGasandElectricity(March2012):27‐29.
• Lesser,J.“GlobalWarming,ClimateChange,erClimateVolatility:2012andBeyond,”NaturalGasandElectricity(January2012):22‐24.
• Lesser,J.,“Sunburnt:Solyndra,Subsidies,andtheGreenJobsDebacle,”NaturalGas&Electricity(November2011):30‐32..
• Lesser,J.,“IllinoisanExampleofwhentheWindDoesn’tBlow,”NaturalGas&Electricity(September2011):27‐29.
• Lesser,J.,“SalmonandWindDuelingforSubsidiesinthePacificNorthwest,”NaturalGas&Electricity(July2011):18‐20.
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
• Lesser,J.,“NuclearFallout,”NaturalGas&Electricity(May2011):31‐33.
• Lesser,J.,“TexasTwo‐Step:EPA’sGreenhouseGasPermittingTakeover,”NaturalGas&Electricity(March2011):21‐23.
• Lesser,J.,“LookingForward:EnergyandtheEnvironmentthrough2012,”NaturalGas&Electricity(January2011):30‐32.
• Lesser,J.,“First‐MoverDisadvantage:OffshoreWind’sFalseEconomicPromises,”NaturalGas&Electricity(November2010):26‐28.
• Lesser,J.,“WilltheBPDisasterAffectNaturalGasandElectricityMarkets?,”NaturalGas&Electricity(August2010):23‐24.
• Lesser,J.,“RenewableEnergyandtheFallacyof‘Green’Jobs,”TheElectricityJournal(August2010):45‐53.
• Lesser,J.,“LettheToughChoicesBegin:AffordableorGreen?,”NaturalGas&Electricity(June2010):27‐29.
• Lesser,J.,“WillShaleGasProductionbeDamagedbyTooManyFraccingComplaints?,”NaturalGas&Electricity(April2010):31‐32.
• Lesser,J.,“AstheClimateTurns:TheSagaContinues,”NaturalGas&Electricity(February2010):29‐32.
• Lesser,J.andN.Puga,“PublicPolicyandPrivateInterests:WhyTransmissionPlanningandCost‐AllocationMethodsContinuetoStifleRenewableEnergyPolicyGoals,”TheElectricityJournal(December2009):7‐19.
• Lesser,J,“ShortCircuit:WillElectricCarsProvideEnergyandEnvironmentalSalvation?”NaturalGas&Electricity(November2009):27‐28.
• Lesser,J.,“GreenistheNewRed:TheHighCostofGreenJobs,”NaturalGas&Electricity(August2009):31‐32.
• Lesser,J.,“RegulatingGreenhouseGasEmissions:EPAGetsDown,”NaturalGas&Electricity(June2009):31‐32.
• Lesser,J.,“BeingReasonableWhileRegulatingGreenhouseGasEmissionsundertheCleanAirAct,”NaturalGas&Electricity(April2009):30‐32.
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
• Lesser,J.,“Renewables,BecomingCheaper,AreSuddenlyPassé,”NaturalGas&Electricity(February2009):30‐32.
• Lesser,J.,“MeasuringtheCostsandtheBenefitsofEnergyDevelopment,”NaturalGas&Electricity(December2008):30‐32.
• Lesser,J.,“ComparingtheBenefitsandtheCostsofEnergyDevelopment,”NaturalGas&Electricity(October2008):31‐32.
• Lesser,J.,“NewSourceReviewIsStillAnythingbutRoutine,”NaturalGas&Electricity(August2008):31‐32.
• Lesser,J.,andN.Puga,“PVversusSolarThermal,”PublicUtilitiesFortnightly146(July2008),pp.16‐20,27.
• Lesser,J.,“Cap‐and‐TradeforGasoline?,”WallStreetJournal,June14,2008,A14.
• Lesser,J.,“KansasSecretaryUnilaterallyBansCoalPlants,”NaturalGas&Electricity(June2008):30‐32.
• Lesser,J.,“SeeingThroughaGlass,Darkly,BanksApproachCoal‐FiredPowerFinancing,”NaturalGas&Electricity(April2008):29‐31.
• Lesser,J.,“TheEnergyIndependenceandSecurityActof2007:NoSubsidyLeftBehind,”NaturalGas&Electricity(February2008):29‐31.
• Lesser,J.,“ControlofGreenhouseGases:DifficultwithEitherCap‐and‐TradeorTax‐and‐Spend.”NaturalGas&Electricity(December2007):28‐31.
• Lesser,J.,“DéjàvuAllOverAgain:TheGrasswasnotGreenerUnderUtilityRegulation.”TheElectricityJournal20(December2007):35–39.
• Lesser,J.,“Blowin’intheWind:RenewableEnergyMandates,ElectricRates,andEnvironmentalQuality.”NaturalGas&Electricity(October2007):26‐28.
• Lesser,J.,“NoLegtoStandOn.”NaturalGas&Electricity(August2007):28–31.
• Lesser,J.,“GoldilocksChillsOut.”NaturalGas&Electricity(July2007):26–28.
• Lesser,J.,“GoldilocksandtheThreeClimates.”NaturalGas&Electricity(April2007):22–24.
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6 Real Place • Sandia Park, NM 87047 • main: 505.286.8833 • DC Office: 202.446.2062 www.continentalecon.com
• Lesser,J.,“Command‐and‐ControlStillLurksinEveryLegislature.”NaturalGas&Electricity(February2007):8–12.
• Lesser,J.,andG.Israilevich,“TheCapacityMarketEnigma.”PublicUtilitiesFortnightly143(December2005):38‐42.
• Lesser,J.,“OverblownPromises:TheHiddenCostsofSymbolicEnvironmentalism.”Livin’Vermont1(January/February2005):7,27.
• Lesser,J.,“RegulationbyLitigation.”PublicUtilitiesFortnightly142(October2004):24–29.
• Lesser,J.,“ROE:TheGorillaisStillattheDoor.”PublicUtilitiesFortnightly144(July2004):19–23.
• Lesser,J.,andS.Chapel,“KeystoTransmissionandDistributionReliability.”PublicUtilitiesFortnightly142(April2004):58–62.
• Lesser,J.,“DCFUtilityValuation:StilltheGoldStandard?”PublicUtilitiesFortnightly141(February15,2003):14–21.
• Lesser,J.,“WelcometotheNewEraofResourcePlanning:WhyRestructuringMayLeadtoMoreComplexRegulation,NotLess.”TheElectricityJournal15(July2002):20–28.
• Lesser,J.,andC.Feinstein,“IdentifyingApplicationsforDistributedGeneration:Hypevs.Hope.”PublicUtilitiesFortnightly140(June1,2002):20–28.
• Lesser,J.,etal.,“UtilityResourcePlanning:TheNeedforaNewApproach.”PublicUtilitiesFortnightly140(January15,2002):24–27.
• Lesser,J.,“DistributionUtilities:ForgottenOrphansofElectricRestructuring?”PublicUtilitiesFortnightly137(March1,1999):50–55.
• Lesser,J.,“RegulatingDistributionUtilitiesinaRestructuredWorld.”TheElectricityJournal12(January/February1999):40–48.
• Lesser,J.,“IsitHowMuchorWhoPays?AResponsetoRothkopf.”TheElectricityJournal10(December1997):17–22.
• Lesser,J.,andM.Ainspan,“UsingMarketstoValueStrandedCosts.”TheElectricityJournal(October1996):66–74.
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• Lesser,J.,“EconomicAnalysisofDistributedResources:AnIntroduction.”Proceedings,FirstAnnualConferenceonDistributedResources,ElectricPowerResearchInstitute,KansasCity,MO,July1995.
• Lesser,J.,“DistributedResourcesasaCompetitiveOpportunity:TheSmallUtilityPerspective.”Proceedings,FirstAnnualConferenceonDistributedResources,ElectricPowerResearchInstitute,KansasCity,MO,July1995.
• Lesser,J.,andM.Ainspan,“RetailWheeling:DejavuAllOverAgain?”TheElectricityJournal7(April1994):33–49.
• Lesser,J.,“AnEconomicallyRationalApproachtoLeast‐CostPlanning:Comment.”TheElectricityJournal4(October1991).
• Lesser,J.,“Long‐TermUtilityPlanningUnderUncertainty:ANewApproach.”PaperpresentedfortheElectricPowerResearchInstitute:InnovationsinPricingandPlanning,May1990.
• Lesser,J.,“Centralizedvs.DecentralizedResourceAcquisition:ImplicationsforBiddingStrategies.”PublicUtilitiesFortnightly(June1990).
• Lesser,J.,“MostValue—TheRightMeasurefortheWrongMarket?”TheElectricityJournal2(December1989):47–51.
Selectedspeakingengagements
• “EPARegulationofGeneratorEmissions–KeyMarketIssues,”EnergyBarAssociation,AnnualMeeting,April28,2012.
• “CompetitiveEnergyMarkets:HowaretheyWorking?”ConstellationExecutiveEnergyForum,November2,2011.
• “TheFailuresofTransmissionPlanningandPolicy,”HarvardElectricPolicyGroup,February25,2010.
• “FinancingtheSmartGrid,”EnergyBarAssociationSeminar,Washington,DC,December4,2009.
• “RenewablePower:AttheCrossroadsofEconomicsandPolicy,”PresentationtotheUtilitiesStateGovernmentOrganization,Newport,RhodeIsland,July13,2009.
• “TheStimulusActandLawstheyDidn’tTeachYouinLawSchool,”presentationtothe27thNationalRegulatoryConference,Williamsburg,VA,May19,2009.
• “RateRecoveryforCapitalIntensiveGeneration:RateBaseandConstructionWorkinProgress,”LawSeminarsInternational,LasVegas,NV,February5,2009.
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• “FinancialRisksFacedbyRegulatedUtilities:ImplicationsfortheCostofCapitalandRatemakingPolicies,”LawSeminarsInternational,LasVegas,NV,February7,2008.
• “AlternativeRegulatoryStructuresandTariffMechanisms:Practicalapproachestoprovidinglow‐cost,environmentallyresponsibleenergyandhowtoavoidsomedangerouspitfalls.”WesternEnergyInstitute,October1,2007.
• “EconomicsandEnergyRegulation.”LawSeminarsInternational,Washington,DC,March15‐16,2007.
• “EnergyintheNortheast:ResourceAdequacy&Reliability.”LawSeminarsInternational,Boston,MA,October16–17,2006.
• “EnergyintheSouthwest:NewDirectionsinEnergyMarketsandRegulations.”LawSeminarsInternational,SantaFe,NM,July14,2006.
• “EnergyandtheEnvironment.”VermontJournalofEnvironmentalLaw,SouthRoyalton,VT,March10,2006.
• “ElectricityandNaturalGasRegulation:AnIntroduction.”LawSeminarsInternational,Washington,DC,March17–18,2005.