Issues in Infrastructure: Replacement, Resilience & Regulation.

Transcription

1 Issues in Infrastructure: Replacement, Resilience & Regulation. FRI 2015 Public Utility Symposium 30 September 2015 University of Missouri Columbia, Missouri

2 Mission Statement Under the academic leadership of the Robert J. Trulaske, Sr. College of Business at the University of Missouri, the FRI, through its Public Utilities Division, serves as a neutral environment for the comprehensive examination of sound regulatory policy. The FRI provides interactive forums for consumers, regulators, industry and educators to facilitate innovation, understanding, and education in public utility policy issues. 404 Cornell Hall University of Missouri Columbia, Missouri Phone (573) Fax (573) FRI@missouri.edu Website 2

3 Table of Contents Mission Statement...2 Welcome Letter from Dr. Stephen Ferris...4 Program at a Glance...5 Welcome...6 Symposium CEO Panel Discussion...7 Panel Discussion I - Modernization & Infrastructure Replacement...8 Panel Discussion II - Resiliency & Infrastructure Sufficiency...9 Panel Discussion III - Utility Business Models & Regulatory Practices...10 Closing Comments...11 About the FRI...12 FRI Crystal Award...13 FRI Advisory Board Members CLE, CPA and CPE Credit: The 2015 FRI Symposium is eligible for professional credits. To obtain credits send the Symposium certificate of attendance along with the Symposium program booklet to the appropriate authority. If you have any questions or need further information, please contact the FRI at

4 Dear 2015 FRI Symposium Participant: Welcome to the University of Missouri and the 2015 FRI Public Utility Symposium! This year we are gathering for a full day of discussion on, Issues in Infrastructure: Replacement, Resilience and Regulation. We will also recognize the 2015 recipient of the FRI Crystal Award for Distinguished Contribution, Mr. Ralph Cavanagh, Co-Director of the Energy Program for the Natural Resources Defense Council. Additionally, we will honor the following FRI Advisory Board Members with Service Awards for their long and faithful support of the FRI: James Jenkins, American Water; Tim Rush, Kansas City Power & Light; Charles Chuck Harder, SourceGas; Mark Darrell, The Laclede Group; David Dittemore, Kansas Gas Service; Scott Albertson, Vectren Corporation; Glenn Jennings, Delta Natural Gas Company; Vice Chairman James Gardner, Kentucky Public Service Commission; David Springe, Kansas Citizens Utility Ratepayer Board; Kelly Walters, The Empire District Electric Company; Mark Martin, Atmos Energy; Herbert Miller, Columbia Gas of Kentucky; and James Stanley, NiSource. The Crystal Award and the Service Awards will be presented during the Symposium luncheon. The focus of the 2015 Symposium is utility infrastructure and the challenges associated with its replacement and modernization, the extent to which resiliency and sufficiency exists within the utility industries, and how to design more effective regulatory or business models. As is usual, the Symposium will be developed around three panels which separately discuss each of these topics. The first panel will examine issues associated with the modernization and replacement of utility physical infrastructure. Discussion will include subjects such as the cost recovery of new investment, technological innovation and modernization, mandated environmental investments, and the nature and extent of new infrastructure needs. Our second panel will focus on the resiliency and sufficiency of utility infrastructure for the 21st century. Topics addressed in this panel include the ability of the infrastructure to respond to disruptions originating from a variety of factors, the challenges of physical and cyber security, the reliability and sufficiency of existing infrastructure relative to projected demand growth, and the impact of emerging technologies. The third panel is intended to be an integrative, with an emphasis on how changes in utility business models and regulatory practices can lead to solutions for many infrastructure challenges. The discussion of business practices will examine how to best attract the investment capital necessary for infrastructure modernization or replacement while considering consumer affordability and access. This panel will also examine how changes in regulatory processes, policies, and procedures can stimulate a more capable, resilient, and efficient utility infrastructure. In addition to the three panels, the Symposium will feature a CEO roundtable where the senior leaders of an electric, gas, and water utility will share their views and opinions on the future of their respective industries. This represents a great opportunity for our Symposium delegates to hear directly from the three regulated industries followed by the FRI. I want to thank the Planning Committee, chaired by Mark Martin, Vice President of Rates & Regulatory Affairs for Atmos Energy, for its tremendous support in the design and organization of this year s Symposium. Other members of this committee are: Pauline Ahern, Partner, Sussex Economic Advisors, LLC; Scott Albertson, Vice President, Regulatory Affairs & Gas Supply, Vectren Corporation; Martha Davis, Director, Missouri Regulatory & Government Affairs, Summit Natural Gas of Missouri, Inc.; Vicki Friscic, Director, Regulatory & Pricing, Dominion East Ohio/Dominion Hope; Vice Chairman James Gardner, Kentucky Public Service Commission; Charles Chuck Harder; Vice President, Rates & Regulatory, SourceGas, LLC; Commissioner Elizabeth Libby Jacobs, Iowa Utilities Board; James Jenkins, Vice President, Regulatory & Public Policy, American Water; Glenn Jennings, Chairman, President & CEO, Delta Natural Gas Company; Christopher Krygier, Director, Rates & Government Affairs, Liberty Utilities; Brett Leopold, President, ITC Great Plains; Donald Rowlett, Managing Director, Regulatory Affairs, Oklahoma Gas & Electric Company; David Springe, Consumer Counsel, Kansas Citizens Utility Ratepayer Board; A. David Stippler, Utility Consumer Counselor, Indiana Office of Utility Consumer Counselor; Gary VerDouw, Director, Rates, Central Division, American Water; Warren Wood, Vice President, External Affairs & Communications, Ameren Missouri. This committee has done an outstanding job in designing a Symposium that is timely, relevant, and inclusive of the many communities that support the FRI. In closing, I would like to thank the members of the FRI Advisory Board for their continued dedication and support of the FRI. Their involvement has allowed the FRI to achieve its current level of success. I also want to recognize Selby Jones and AUS Consultants for their continued sponsorship of the FRI Crystal Award for Distinguished Contribution. I especially want to thank Sarah Gott and Lucas Jorgensen of the FRI staff for their countless hours of devotion and dedication to the success of today s program. They are directly responsible for the excellence which characterizes our annual Symposium. Finally, I want to thank each of you for attending and I hope you find today s activities to be professionally rewarding as well as intellectually stimulating. Sincerely, Interim Dean Stephen P. Ferris Director, FRI 4

5 Program At A Glance BREAKFAST & REGISTRATION 7:50 am 8:50 am LUNCH & AWARD PRESENTATIONS 12:15 pm 1:40 pm WELCOME 9:00 am 9:15 am Ralph Cavanagh 2015 FRI Crystal Award Recipient Dr. Stephen P. Ferris Interim Dean, Robert J. Trulaske, Sr. College of Business Director, Financial Research Institute James Harvey Rogers Chair of Money, Credit and Banking University of Missouri FRI Advisory Board Members Service Awards PANEL II DISCUSSION 1:45 pm 3:00 pm Dr. Garnett Stokes Provost & Executive Vice Chancellor, Academic Affairs University of Missouri Commissioner Dana Murphy Oklahoma Corporation Commission CEO PANEL DISCUSSION CEO Panel Moderator: Commissioner Julie Imanuel Brown Florida Public Service Commission 9:15 am 10:45 am CEO Panelists: Lynn Good President, CEO, & Vice Chair of the Board, Duke Energy Pierce Norton President & CEO, ONE Gas Resiliency & Infrastructure Sufficiency Panel II Moderator: Commissioner Elizabeth Libby Jacobs Iowa Utilities Board Panel II Panelists: Commissioner Lamar Davis Arkansas Public Service Commission Karen Lefkowitz, Vice President, Business Transformation & Chief Information Security Officer, PEPCO Holdings, Inc. Susan Satter Public Utilities Counsel Illinois Office of Attorney General Lisa Madigan Edward Johnston Vice President, Research Operations Gas Technology Institute Susan Story President & CEO, American Water PANEL III DISCUSSION 3:15 pm 4:30 pm PANEL I DISCUSSION Modernization & Infrastructure Replacement Panel I Moderator: Commissioner M. Beth Trombold Public Utilities Commission of Ohio Panel I Panelists: Commissioner Angela Weber Indiana Utility Regulatory Commission Jeffrey Murphy, Vice President & General Manager Dominion East Ohio & Dominion Hope Cynthia Quarterman Distinguished Senior Fellow, Global Energy Center Atlantic Council A. David Stippler, Utility Consumer Counselor Indiana Office of Utility Counselor 11:00 am 12:15 pm Utility Business Models & Regulatory Practices Panel III Moderator: Commissioner Mary-Anna Holden New Jersey Board of Public Utilities Panel III Panelists: Chairman Daniel Hall, Missouri Public Service Commission Lisa Sparrow, President & CEO, Utilities Inc. Jairo Chung, Analyst, Infrastructure Finance (Power/Utilities) Moody s Investors Service Mark Schuling, Consumer Advocate Iowa Office of Consumer Advocate CLOSING COMMENTS 4:30 pm 4:45 pm Douglas Esamann, Executive Vice President & President Midwest & Florida Regions, Duke Energy 5

6 WELCOME: 9:00 am 9:15 am Dr. Stephen P. Ferris, Interim Dean, Robert J. Trulaske, Sr. College of Business & FRI Director, University of Missouri. Ferris is also the J.H. Rogers Chair of Money, Credit, and Banking. Previously, he served as Senior Associate Dean for Graduate Studies & Research and as Chair of the Department of Finance at MU. Dr. Ferris has held visiting appointments at Duquesne University, the University of Memphis and the University of Pittsburgh. Dr. Ferris earned a BA from Duquesne University and an MBA and PhD from the University of Pittsburgh. He also holds a MSS from the US Army War College and a diploma from the U.S. Navy War College. He retired as a Commander in the U.S. Navy in Dr. Garnett S. Stokes, Executive Vice Chancellor for Academic Affairs & Provost, University of Missouri Prior to joining MU, she served as Provost and Executive Vice President for Academic Affairs at Florida State University. She also served as a faculty member at the University of Georgia where she headed the university s Department of Psychology for five years prior to becoming Dean of the Franklin College of Arts and Sciences. Dr. Stokes earned a BA in psychology from Carson-Newman College in Jefferson City, Tennessee, an MS and PhD from the University of Georgia in industrial/organizational psychology. She is a fellow of the Association for Psychological Science, the American Psychological Association, and the Society for Industrial and Organizational Psychology. Commissioner Dana Murphy, Oklahoma Corporation Commission Murphy was elected to the OCC in 2008 and re-elected in She has over 23 years of experience in the petroleum industry. She is a member of several organizations including: the NARUC Committee on Electricity; the Oklahoma Water Resources Research Institute Advisory Board; the Oklahoma Bar Association; American Association of Petroleum Geologists & Energy Advocates; she is President of the Regional State Committee of the Southwest Power Pool; and a member of the Advisory Council to the Board of Directors of the Electric Power Research Institute. She earned a BS in geology from Oklahoma State University and graduated cum laude from Oklahoma City University with a law degree. 6

7 CEO PANEL DISCUSSION: 9:15 am - 10:45 am Commissioner Julie Imanuel Brown, Florida Public Service Commission Brown was appointed in 2011 and reappointed in Her previous roles include: Associate Legal Counsel, First American Corporation and Assistant City Attorney for the City of Tampa. She is a member of NARUC and serves on the Committee on Gas, Subcommittee on Nuclear Issues Waste Disposal. Brown also serves on the Gas Technology Institute s Public Interest Advisory Committee. She is a member of the Nuclear Waste Strategy Coalition and was recently elected to serve on its Executive Committee. Brown graduated magna cum laude with a BS from the University of Florida. She earned a JD from the University of Florida Levin College of Law. Lynn Good, President, CEO & Vice Chair of the Board, Duke Energy Good was elected by the board to her current role in July She previously served as Duke Energy s CFO. In 2014, Fortune magazine listed Good as 13th among the Most Powerful Women in Business. And, in 2013, she was named as one of the ten most influential people in the energy sector by SNL Energy. Good is a member of the Board of Directors of Boeing and serves on its Audit and Finance Committees. She is also a board member of the Edison Electric Institute, the Institute of Nuclear Power Operations and serves on the Executive Committee of the Nuclear Energy Institute. She received BS degrees in systems analysis and accounting from Miami University in Oxford, Ohio. Pierce Norton, President & CEO, ONE Gas Norton has over 30 of experience years in the natural gas industry. He previously served in multiple leadership roles with ONEOK and ONEOK Partners. These positions include Executive Vice President, Commercial; Chief Operating Officer; President of the then ONEOK Distribution Companies Oklahoma Natural Gas Company, Kansas Gas Service and Texas Gas Service, and Executive Vice President of natural gas. He serves on the board of several organizations and is currently Second Vice Chair of the American Gas Association s board of directors. Norton earned a BS in mechanical engineering from the University of Alabama in Tuscaloosa. He also is a graduate of Harvard Business School s Advanced Management Program. Susan Story, President & CEO, American Water Story is a veteran utility executive with more than 30 years of experience. She leads a team of 6,400 employees who deliver safe, clean, affordable and reliable water services to its customers. Before joining American Water, Story served as Executive Vice President of Southern Company. In that role she was also President and CEO of Southern Company Services. She currently serves on the board of directors for the Bipartisan Policy Center and Alliance to Save Energy, and the Moffitt Cancer Center Board of Advisors. She was recently the National Chairman for the Center for Energy Workforce Development and served on the boards of the National Renewable Energy Laboratory and the Alliance to Save Energy. 7

8 PANEL I: MODERNIZATION & INFRASTRUCTURE REPLACEMENT 11:00 am 12:15 pm Commissioner M. Beth Trombold, Public Utilities Commission of Ohio Trombold was appointed in 2013 and currently serves on the NARUC Electricity Committee; as Vice President of the Organization of PJM States, Inc.; and Chair of the Gas Committee for the MACRUC. Previously, she was Assistant Director of the Ohio Development Services Agency and also held a variety of roles within PUCO. In 2002 she received the Frank B. Richards Award for Excellence in Management and Public Services and she also received the Outstanding State Government Alumnus Award from the Voinovich School of Leadership and Public Affairs at Ohio University in Trombold earned her BBA from Ohio University and a master s degree in public policy and management from The Ohio State University John Glenn School of Public Affairs. Commissioner Angela Weber, Indiana Utility Regulatory Commission Weber was appointed in Prior to her appointment she practiced law at Ice Miller LLP and held positions in the local, state, and federal government to include: Marion County Deputy Prosecuting Attorney; staff attorney for the Indiana Department of Education; Administrative Law Judge for the IURC. She is also a U.S. Army Veteran. Weber earned a BA from Indiana University, Bloomington and received her JD from the Indiana University Maurer School of Law. She is a past-chairperson of the Utility Law Section of the Indiana State Bar Association and an alumna of the Richard G. Lugar Excellence in Public Service Series, Class of Jeffrey A. Murphy, Vice President & General Manager, Dominion East Ohio & Dominion Hope Murphy oversees all aspects of Dominion East Ohio s natural gas distribution company, including gathering, storage, distribution and transmission assets, and Dominion Hope in West Virginia. Prior to his current role he held several leadership positions at Dominion to include: Director, Pricing & Regulatory Affairs; Director, Rates & Gas Supply; Managing Director, Commercial Operations; and General Manager Commercial Operations. Murphy received a BS and MS in economics from The University of Akron and earned an executive MBA from Baldwin Wallace College. Cynthia Quarterman, Senior Distinguished Fellow, Global Energy Center, Atlantic Council Quarterman served from 2009 to 2014 as the Administrator of the U.S. Department of Transportation s Pipeline and Hazardous Materials Safety Administration (PHMSA). She has been a key policy maker in energy development, safety, and transportation since the Clinton Administration. Quarterman was the Head of PHMSA during the Obama Administration and the Director of the former Minerals Management Service during the Clinton Administration. She has also served in numerous other capacities within the Department of the Interior and was a member of the Obama Administration Transition Team at the Department of Energy. David Stippler, Utility Consumer Counsel, Indiana Office of Utility Consumer Counselor Stippler was appointed in 2008 and reappointed in With over 40 years of experience, he oversees a staff of over 50 utility professionals who represent Indiana s residential, commercial and industrial ratepayers in state and federal utility regulatory proceedings. He was named the Secretary of the National Association of State Utility Consumer Advocates in June, Stippler is a cum laude graduate of the Indiana University School of Law-Indianapolis and an alumnus of Saint Meinrad College and the University of Evansville. 8

9 PANEL II: RESILIENCY & INFRASTRUCTURE SUFFICIENCY 1:45 pm 3:00 pm Commissioner Elizabeth Libby Jacobs, Iowa Utilities Board Jacobs began serving on the IUB in She serves as Co-Vice Chair of the NARUC Committee on Electricity; the NARUC Subcommittee on Nuclear Issues-Waste Disposal; and the NARUC Task Force on Environmental Regulation and Generation. Jacobs serves as President of the Organization of MISO States (OMS) and is a voting member on the EISPC. Jacobs serves on the FRI Advisory Board and the Advisory Council of the Center for Public Utilities at New Mexico State University. Jacobs earned her BA with distinction in political science from the University of Nebraska - Lincoln and a Master s of Public Administration from Drake University. Commissioner Lamar Davis, Arkansas Public Service Commission Davis was appointed in Previously, he served as Deputy Chief of Staff for the Office of Governor Mike Beebe. He was also the Assistant Attorney General in the Consumer Protection Department for Attorneys General Mike Beebe and Mark Pryor. Davis received his JD from the University of Arkansas at Little Rock School of Law. He earned a BA in political science from Dillard University in New Orleans, Louisiana. Davis is also a graduate of the Homeland Security Executive Leaders Program at the Naval Post Graduate School Center for Homeland Defense and Security. He currently serves NARUC s Committee on Critical Infrastructure. Karen Lefkowitz, VP, Business Transformation & Chief Information Security Officer, PEPCO Holdings, Inc. Lefkowitz leads an enterprise-wide strategic vision to implement business processes and technologies designed to help customers better manage their energy use and costs, improve reliability and customer service and support environmentally friendly programs. She leads the Security Steering Committee and is charged with maintaining and implementing a corporate-wide risk management program. She previously served as Director, Customer Relations and as the Director of System Operations. She holds a BBA from George Washington University and an MBA from Marymount University. Lefkowitz also serves on the board of directors of the GridWise Alliance, Strathmore Hall Foundation, Inc. Edward Eddie Johnston, Vice President, Research Operations, Gas Technology Institute (GTI) Johnston drives cross-cutting activities and coordinates integrated responses to the natural gas industry s most pressing needs. He oversees GTI s entire research staff and leads efforts across unconventional supply, energy conversion, natural gas delivery, and end use market sectors with offerings at every phase of the technology development cycle, from concept to commercialization. Prior, he worked for Atmos Energy for 15 years. Johnston earned a BS in mechanical engineering from Mississippi State University and graduated with honors from the University of Chicago with an MBA. Susan L. Satter, Public Utilities Counsel, Office Attorney General Lisa Madigan Satter joined the Illinois Attorney General s Public Utilities Bureau in Prior, she served as legal counsel for the Illinois Citizens Utility Board. Satter has represented the People of the State of Illinois and residential consumers in administrative, judicial and legislative proceedings involving energy, telecommunications services, and water. She has addressed issues such as rates and prices, cost of service, cost of capital, infrastructure investment, energy regulation and markets, telecommunications regulation and competition, and corporate reorganizations. She earned her JD from Chicago - Kent College of Law and her BA from University of Wisconsin at Madison. 9

10 PANEL III: UTILITY BUSINESS MODELS & REGULATORY PRACTICES 3:15 pm 4:30 pm Commissioner Mary-Anna Holden, New Jersey Board of Public Utilities Holden was confirmed in Prior to her nomination, she served as Mayor of the Borough of Madison, N.J., for four years and Councilwoman for ten years. As Mayor and Councilwoman of Madison, Holden had the distinction of chairing or co-chairing every committee and department. She is a member of NARUC where she serves as Co-Vice Chair of the NARUC Water Committee, and a member of the NARUC Sub-Committee on Nuclear Issues-Waste Disposal. Holden received a BFA from the College of New Rochelle and a Master s in Humanities-American Art and Architecture from Manhattanville College. Chairman Daniel Hall, Missouri Public Service Commission Hall was appointed in 2013 and named Chairman in He serves on the NARUC Committee on Water and the Washington Action Committee. He is also a member of the Organization of MISO States Board of Directors and he is an FRI Advisory Board Member. Prior roles include: Legislative Director to Governor Nixon ( ); Senior Counsel and Assistant Attorney General, Office of Missouri Attorney General; Assistant Commissioner for Policy, Office of Administration; and Chief of Staff to Missouri House Speaker Steve Gaw. He received his JD from the University of Missouri School of Law. His law school honors include the Order of the Coif, Order of the Barristers and Board of Advocates. He graduated cum laude with a BA from Carleton College in Northfield, Minnesota. Lisa Sparrow, President & CEO, Utilities, Inc. Sparrow has over 25 years of experience in manufacturing, energy, and infrastructure. She is an active member of the professional water community. She was appointed to a three year term on the U.S. EPA s National Drinking Water Advisory Council in 2009 and the US EPA Climate Ready Utilities Working Group later that year. Sparrow serves as a member of the Board of Directors for the National Association of Water Companies and the Water Research Foundation. She earned her BS in mechanical engineering from Michigan State University and a Master s in marketing and strategy from Northwestern University s J. L. Kellogg Graduate School of Management. Jairo Chung, Analyst, Infrastructure Finance (Power/Utilities), Moody s Investors Service Chung is responsible for a portfolio consisting of electric and gas utilities, including all of Missouri s electric utilities. Prior to joining Moody s, she was an equity research analyst covering utilities and power sector for several years. She began her career at Public Service Enterprise Group, a utility holding company located in New Jersey. Chung holds a BS in international business from The College of New Jersey and an MBA in corporate finance from New York University s Stern School of Business. Mark Schuling, Iowa Consumer Advocate, Iowa Office of Consumer Advocate Schuling was appointed as Consumer Advocate in January Previously he was the Director of the Iowa Department of Revenue and a practicing attorney with the Brick, Gentry, Bowers, Swartz, Stoltze, Schuling & Levis law firm. Schuling has experience and expertise in federal and state tax law, telecommunications and utility matters, and general civil law. He earned his law degree from the Drake University Law School. He is a Certified Public Accountant. Schuling was President of the Federation of Tax Administrators and has served on the Iowa Governor s Economic Council. 10

11 CLOSING COMMENTS: 4:30 pm 4:45 pm Douglas Esamann, Executive Vice President & President, Midwest & Florida Regions, Duke Energy Esamann assumed his current position in June He has responsibility for the profit/loss, strategic direction and performance of the company s regulated utilities in Indiana, Ohio, Kentucky and Florida, including the natural gas distribution business in the Midwest. Prior, Esamann held several leadership roles with Duke to include: President of Duke Energy s Indiana operations; Senior Vice President of Corporate Strategy; and Senior Vice President of Strategy and Planning. He serves on the advisory board for the Richard G. Lugar Center for Renewable Energy and, is the Chair of the FRI Advisory Board. Esamann earned a BS degree in accounting from Indiana University. SYMPOSIUM NOTES: 11

12 About the FRI Background The Financial Research Institute (FRI) was established in 1988 within the Robert J. Trulaske, Sr. College of Business at the University of Missouri to promote education, research and service across various areas of finance. Today, the FRI, through its Public Utility Division, provides a neutral environment for stakeholders in the regulated public utility industry to come together to examine, understand, and debate current issues relating to public utility policy. Advisory Board The FRI Advisory Board was established in 1988 as an essential component of the FRI. The FRI Advisory Board includes regulators, industry executives, and consumer representatives, and operates under the leadership of Dr. Stephen Ferris. The FRI Advisory Board provides financial assistance, professional advice, and identifies FRI s strategic direction. Annual Public Utility Symposium The FRI s flagship event is its annual Public Utility Symposium. Held in the fall, this one day event examines issues that impact consumers, industry, and regulators. The Symposium is targeted to state regulators, legislators, commission staff, utility managers, policy analysts, attorneys, consumer advocates, and academics. The event is accredited for both continuing legal and professional education (CLE, CPE). Hot Topic Hotline The Hot Topic Hotline Program is an opportunity for FRI Advisory Board Members to discuss hot issues via web conference. The program is offered bi-monthly and topics are sponsored by an Advisory Board Member. For a full list of upcoming and previous Hot Topics please visit Save the Date! The strength of the FRI Public Utility Symposium results from the input provided by the FRI Advisory Board Members regarding content and speakers. The cooperation between commissioners, consumer advocates, and industry executives results in discussion and debate relevant to all stakeholders. The 2016 Symposium marks the 25th year of the event. For the last 10 years, the Symposium has had capacity attendance! Registration for the 2016 Symposium opens in early spring! Look for more information on the Symposium and Early Bird Discounts! Follow us on and like us Facebook to stay connected and receive announcements! The next FRI Public Utility Symposium 21 September

13 The FRI Crystal Award The FRI Crystal Award for Distinguished Contribution recognizes an individual who has made recent outstanding and significant contributions to the design, implementation or analysis of public utility regulatory policy. It provides an opportunity to recognize excellence and achievement across regulated industries and further promotes the mission and purpose of the FRI - to serve as a neutral environment for the comprehensive examination of sound regulatory policy. Eligibility: Individuals with at least 10 years of experience related to regulated industry. FRI Advisory Board Members and individuals employed by regulated public utility companies are ineligible. Current Public Office Holders are also ineligible. Nominees are not restricted to companies or states represented by the FRI Advisory Board Members. Recipient must be present to accept the award during the FRI Symposium activities. Self-nominations are permitted. Nominees may be, but are not limited to: Former Commissioners Regulatory Staff Energy Executives Consultants Academics Criteria: The originality and extent of the contributions made by the individual to the design, implementation, or analysis of public utility regulatory policy. The sustained nature of these contributions over time. The measurable impact of the individual s accomplishments such as changes in industry or regulatory policies, citations or use by others of the individual s work. Extent of peer, industry, academic or public recognition of the individual s accomplishments in the area of public utility regulatory policy. Congratulations to RALPH CAVANAGH 2015 FRI Crystal Award Recipient Nominations for the 2016 FRI Crystal Award are being accepted 15 October - 1 December 2015! 13

14 FINANCIAL RESEARCH INSTITUTE ADVISORY BOARD Pauline Ahern, CRRA Partner Sussex Economic Advisors LLC Scott E. Albertson Vice President Regulatory Affairs & Gas Supply Vectren Corporation Mark C. Darrell Senior Vice President General Counsel & Chief Compliance Office The Laclede Group Lisa Edgar President NARUC Douglas Esamann FRI Advisory Board Chair Executive Vice President & President, Midwest & Florida Regions, Duke Energy Michael Fehr Vice President Regulation MidAmerican Energy James W. Gardner Vice Chairman Kentucky Public Service Commission Daniel Y. Hall Chairman Missouri Public Service Commission Charles Chuck Harder Vice President Rates & Regulatory SourceGas, LLC Elizabeth Libby Jacobs Commissioner Iowa Utilities Board Jim Jenkins Vice President Regulatory & Public Policy American Water Glenn R. Jennings Chairman, President & CEO Delta Natural Gas Company Mark Martin Vice President Rates & Regulatory Affairs Atmos Energy Sherina E. Maye Commissioner Illinois Commerce Commission Carolene Mays-Medley Vice Chair Indiana Utility Regulatory Commission Mark S. Schuling Iowa Consumer Advocate Office of Consumer Advocate Emily C. Shuart Director, Regulatory Services Public Service Company of Oklahoma David Springe Consumer Counsel Kansas Citizens Utility Ratepayer Board (CURB) A. David Stippler Utility Consumer Counselor Indiana Office of Utility Consumer Counselor Mark Stultz Senior Vice President, Regulatory Policy & Communications, BP Energy M. Beth Trombold Commissioner Public Utilities Commission of Ohio 14

15 FINANCIAL RESEARCH INSTITUTE ADVISORY BOARD Lamar B. Davis Commissioner Arkansas Public Service Commission Martha Davis Director, Missouri Regulatory & Government Affairs Summit Natural Gas of Missouri, Inc. David Dittemore Director, Regulatory Affairs Kansas Gas Service Shari Feist Albrecht Chair Kansas Corporation Commission Dr. Stephen P. Ferris Director, FRI Vicki Friscic Director, Regulatory & Pricing Dominion East Ohio Dominion Hope Ross Hemphill FRI Advisory Board Vice Chair Vice President, Regulatory Policy & Strategy Commonwealth Edison Company Todd Hillman Vice President, South Region MISO Mary-Anna Holden Commissioner New Jersey Board of Public Utilities Selby P. Jones III, CRRA Principal AUS Consultants Christopher Krygier Director, Regulatory & Government Affairs Liberty Utilities Brett Leopold President ITC Great Plains Dana L. Murphy Commissioner Oklahoma Corporation Commission Donald Rowlett Managing Director Regulatory Affairs Oklahoma Gas & Electric Company Tim Rush Director Regulatory Affairs Kansas City Power & Light James Stanley Chief Operating Officer NiSource Ed Staton Vice President, State Regulation & Rates LG&E & KU Tom Stevens Director, Regulatory Affairs CenterPoint Energy Gary M. VerDouw Director, Rates, Central Division American Water Kelly Walters Vice President & COO Electric, The Empire District Electric Company Warren Wood Vice President, External Affairs & Communications Ameren Missouri 15

16 We ll show you that you can live and learn. We know that the way up the ladder was not a swift climb. But you made it to the top and you want to go higher. And now getting ahead in the game no longer requires pausing your life. Twenty-one months. Eight weekends. 75/25 percent online and on campus. And a rigorous curriculum with everything you need and nothing you don t. execmba.missouri.edu The utility experts that utility experts turn to for advice. Learn more: Selby P. Jones III