SUBJECT: Confirmation of Southern California Edison Company s Nominee to the Committee of its Nuclear Decommissioning Trust Funds.

Transcription

1 STATE OF CALIFORNIA Edmund G. Brown Jr., Governor PUBLIC UTILITIES COMMISSION 505 VAN NESS AVENUE SAN FRANCISCO, CA March 21, 2018 Advice Letter 3750-E Gary Stern Managing Director, State Regulatory Operations Southern California Edison Company 8631 Rush Street Rosemead, CA SUBJECT: Confirmation of Southern California Edison Company s Nominee to the Committee of its Nuclear Decommissioning Trust Funds. Dear Mr. Stern: Advice Letter 3750-E is effective as of March 25, Sincerely, Edward Randolph Director, Energy Division

2 Gary Stern Managing Director, State Regulatory Operations February 23, 2018 ADVICE 3750-E (U 338-E) PUBLIC UTILITIES COMMISSION OF THE STATE OF CALIFORNIA ENERGY DIVISION SUBJECT: Confirmation of Southern California Edison Company s Nominee to the Committee of its Nuclear Decommissioning Trust Funds Southern California Edison Company (SCE or Company) hereby submits for filing this update to its Committee for Nuclear Decommissioning Trust Funds established pursuant to Decision (D.) and Resolution E PURPOSE SCE is requesting California Public Utilities Commission (Commission) confirmation of the re-appointment of its nominee, G. Timothy Haight, to the Committee of SCE s Nuclear Decommissioning Trust Funds. BACKGROUND In response to D , SCE developed trust agreements for its nuclear decommissioning costs in accordance with the guidelines set forth in that Decision. Two trusts were required, one for the decommissioning contributions that qualify for an income tax deduction under Section 468A of the Internal Revenue Code (Qualified Trust), and one for the remaining contributions (Non-qualified Trust). The two trusts are collectively referred to herein as the "Trusts." On November 25, 1987, SCE's trust agreements were approved by the Commission, and executed shortly thereafter by the Commission, SCE, and the Trustee. The Trusts were initially funded on February 2, 1988 and the trust agreements have been amended and restated from time to time thereafter with Commission approval. Both the Qualified and the Non-qualified Trusts require, among other things, that they be managed by a Committee composed of five members, three of whom are not affiliated with SCE. William M. Petmecky III and Daniel S. Wood, both of whom are officers of SCE, currently serve as SCE-affiliated Committee members. Aulana L. P.O. Box Rush Street Rosemead, California (626) Fax (626)

3 ADVICE 3750-E (U 338-E) February 23, 2018 Peters, G. Timothy Haight and Daniel P. Garcia (who will resign as of April 10, 2018 and be replaced by Michael F. Henn) currently serve as the non-sce affiliated Committee members. Dr. Haight s current term on the Committee ends on May 23, The trust agreements provide that the standard term of a Committee member is five years. By this Advice Letter, SCE is nominating Dr. Haight as a non-sce affiliated Committee member for a five-year term commencing on the later of the date this advice letter is approved, which is anticipated to be March 25, 2018, or the date his current term expires. Dr. Haight s term would then continue until May 23, The Commission s Energy Division Director approved the appointment of Dr. Haight to his current term in a letter dated May 3, The trust agreements provide that the Committee members be nominated by Company management and approved by its Board of Directors. The trust agreements then require Commission confirmation of the Committee members who are not affiliated with SCE. The issues in this filing are limited to the qualifications of the nominee to serve on the Committee of SCE s Trusts, and the fee arrangements for his services. As described below, the qualifications of the nominee, and all of the information necessary for the Commission to determine the existence of any conflict of interest, are fully set forth herein. CONFIRMATION OF NOMINEE SCE requests that the Commission confirm the nomination of Mr. Haight who has indicated his willingness to serve on the Committee if confirmed by the Commission. His nomination for appointment was approved by the Board of Directors of the Company on February 22, Dr. Haight brings outstanding professional credentials to the Committee including significant financial and educational experience. Mr. Haight is currently a Presidential Fellow at Chapman University. He formerly served as President of Menlo College and as the Deal of the College of Business and Economics at California State University, Los Angeles. Mr. Haight s additional qualifications and professional background are set forth in Appendix A, which contains the declaration required by the trust agreements. Appendix A provides all other information necessary for the Commission to determine the existence of any potential conflict of interest. SCE proposes that the current fee and compensation arrangements which were found by the Commission to be reasonable and were approved for outside Committee members in D dated January 11, 2007, be continued for this nominee. This filing will not increase any rate or charge, cause the withdrawal of service, or conflict with any other schedule or rule.

4 ADVICE 3750-E (U 338-E) February 23, 2018 TIER DESIGNATION Pursuant to Ordering Paragraph (OP) 7 of D , this advice letter is submitted with a Tier 2 designation. EFFECTIVE DATE This advice filing will become effective on March 25, 2018, the 30th calendar day after the date filed. NOTICE Anyone wishing to protest this advice filing may do so by letter via U.S. Mail, facsimile, or electronically, any of which must be received no later than 20 days after the date of this advice filing. Protests should be submitted to: CPUC, Energy Division Attention: Tariff Unit 505 Van Ness Avenue San Francisco, California EDTariffUnit@cpuc.ca.gov Copies should also be mailed to the attention of the Director, Energy Division, Room 4004 (same address above). In addition, protests and all other correspondence regarding this advice letter should also be sent by letter and transmitted via facsimile or electronically to the attention of: Gary Stern Managing Director, State Regulatory Operations Southern California Edison Company 8631 Rush Street Rosemead, California Telephone: (626) Facsimile: (626) AdviceTariffManager@sce.com

5 ADVICE 3750-E (U 338-E) February 23, 2018 Laura Genao Managing Director, State Regulatory Affairs c/o Karyn Gansecki Southern California Edison Company 601 Van Ness Avenue, Suite 2030 San Francisco, California Facsimile: (415) Karyn.Gansecki@sce.com There are no restrictions on who may file a protest, but the protest shall set forth specifically the grounds upon which it is based and must be received by the deadline shown above. In accordance with General Rule 4 of General Order (GO) 96-B, SCE is serving copies of this advice filing to the interested parties shown on the attached GO 96-B and A et al. service lists. Address change requests to the GO 96-B service list should be directed by electronic mail to AdviceTariffManager@sce.com or at (626) For changes to all other service lists, please contact the Commission s Process Office at (415) or by electronic mail at Process_Office@cpuc.ca.gov. Further, in accordance with Public Utilities Code Section 491, notice to the public is hereby given by filing and keeping the advice filing at SCE s corporate headquarters. To view other SCE advice letters filed with the Commission, log on to SCE s web site at For questions, please contact Gregory Henry at (626) or by electronic mail at Gregory.Henry@sce.com. Southern California Edison Company GS:gh:jm Enclosures /s/ Gary Stern Gary Stern

6 CALIFORNIA PUBLIC UTILITIES COMMISSION ADVICE LETTER FILING SUMMARY ENERGY UTILITY MUST BE COMPLETED BY UTILITY (Attach additional pages as needed) Company name/cpuc Utility No.: Southern California Edison Company (U 338-E) Utility type: Contact Person: Darrah Morgan ELC GAS Phone #: (626) PLC HEAT WATER Disposition Notice to: EXPLANATION OF UTILITY TYPE ELC = Electric GAS = Gas PLC = Pipeline HEAT = Heat WATER = Water (Date Filed/ Received Stamp by CPUC) Advice Letter (AL) #: 3750-E Tier Designation: 2 Subject of AL: Confirmation of Southern California Edison Company s Nominee to the Committee of its Nuclear Decommissioning Trust Funds Keywords (choose from CPUC listing): Compliance, Nuclear AL filing type: Monthly Quarterly Annual One-Time Other If AL filed in compliance with a Commission order, indicate relevant Decision/Resolution #: Decision and Resolution E-3057 Does AL replace a withdrawn or rejected AL? If so, identify the prior AL: Summarize differences between the AL and the prior withdrawn or rejected AL: Confidential treatment requested? Yes No If yes, specification of confidential information: Confidential information will be made available to appropriate parties who execute a nondisclosure agreement. Name and contact information to request nondisclosure agreement/access to confidential information: Resolution Required? Yes No Requested effective date: 3/25/18 No. of tariff sheets: -0- Estimated system annual revenue effect: (%): Estimated system average rate effect (%): When rates are affected by AL, include attachment in AL showing average rate effects on customer classes (residential, small commercial, large C/I, agricultural, lighting). Tariff schedules affected: N/A Service affected and changes proposed 1 : Pending advice letters that revise the same tariff sheets: None 1 Discuss in AL if more space is needed.

7 Protests and all other correspondence regarding this AL are due no later 20 days after the date of this filing, unless otherwise authorized by the Commission, and shall be sent to: CPUC, Energy Division Attention: Tariff Unit 505 Van Ness Avenue San Francisco, California Gary Stern Managing Director, State Regulatory Operations Southern California Edison Company 8631 Rush Street Rosemead, California Telephone: (626) Facsimile: (626) Laura Genao Managing Director, State Regulatory Affairs c/o Karyn Gansecki Southern California Edison Company 601 Van Ness Avenue, Suite 2030 San Francisco, California Facsimile: (415)

8 Appendix A

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10 VITA G. TIMOTHY HAIGHT Home Address: 5540 Smokey Mountain Way Yorba Linda, CA Current Position: Presidential Fellow at Chapman University Orange, California EDUCATION D.B.A. Business Finance and Investments, George Washington University Washington, D.C., 1980 Dissertation: Markowitz Diversification Technique as a Criterion for Merger Decisions M.B.A. Accounting and Finance, University of Dayton, Dayton, Ohio, 1972 B.S. Business Administration, University of Dayton, Dayton, Ohio, 1970 EXECUTIVE EXPERIENCE President, Menlo College, Atherton, California December 2006 December 2010 Administrative Responsibilities and Accomplishments Providing leadership and direction for setting new vision for the College Branded College as Silicon Valley s Business School Refocusing entire curriculum base to support College s mission Reorganization of Administrative Structure Leadership in formulating action plan to maintain WASC accreditation Establishing priorities for faculty hiring and retention Introduction of process mapping throughout all divisions within the College Development of strategies to enhance the enrollment management Reestablishing relationships with key alumni Established strategic plan for significantly increasing external support Recruiting Board of Trustees membership to support vision/mission Partnered with Citi in creating Financial Literacy Program Leadership in Negotiating division of Assets from Menlo Trust and Securing $21 million of funds from the Belloc Trust for the College Creating a Entrepreneurship Incubator site at Menlo College

11 Dean, College of Business and Economics, California State University, Los Angeles July 1998 December 2006 (Professor of Finance) Administrative Responsibilities and Accomplishments: Member of University Resource Allocation Advisory Committee (RAAC) Member of University Planning and Strategic Planning Coordination Committee Member of the Board of Directors for University Auxiliary Service (UAS) at CSULA. Member of Audit Committee for UAS Created new vision to lead the College of Business and Economics into the 21 st Century by establishing globally focused, technology-based curricula and program. Developed new strategic plan for the College of Business and Economics Reestablished and recruited high-level executives for the Dean s Advisory Council. Secured largest cash donation in school's history from Pepsi/ Frito Lay to fund Leadership Center Designed faculty incentive system to improve faculty scholarship and development. Secured approximately $16 million in cash and in kind contributions for the college during my tenure at CSULA as dean ( ) Successful led the College of Business and Economics in the AACSB-International reaccredidation process Listed by US News and World Report as one of the top business schools for eight consecutive years. Selected by Oracle Corporation as one of its first "pilot program" for introducing e- commerce business application software to the curriculum Teamed with Oracle Corporation in establishing partners program to fund faculty training in use of business applications software in existing curriculum Secured funding and designed the Marshall Geller Golden Eagle Opportunity Fund- Student Managed Investment Fund Established the first Executive in Residence Program at CSULA Managed faculty and staff of 100 Oversight of $12 million budget for the College of Business and Economics Successfully implemented strategies and policies to satisfy AACSB standards Downsized and reorganized CBE s Bureaus, Institutes, and Center Re-deployed faculty resources and recruited new faculty Chair, Department of Finance, Towson University ; Administrative Responsibilities and Accomplishments: Appointed as first Chair of the Department of Finance Developed market driven mission statement and strategic plan for the Finance Department Developed new finance curriculum Created and recruited members for the Finance Department Business Advisory Board 2

12 Co-authored AACSB re-accreditation report Established Executive Seminar Series DIRECTORSHIPS AND AFFILILIATIONS Board Member, Commonwealth Business Bank, Los Angeles, California Chair of Audit Committee. Member of the Loan, and Asset-Liability Management committees. Service as Chair of Board ( ). Member, Southern California Edison s Nuclear Power Decommissioning Fund Committee present. Mentor, ITESM Campus State of Mexico (CEM) Appointed by AACSB International to assist in the Institute s Pre-Accreditation process. President, Western Association of Collegiate Schools of Business, Member, Board of Directors Member, Performance and Research Advisory Group, Eureka Investment Advisors, (Bank of the West affiliate), Los Angeles, California, Provided research advice to Eureka Mutual Funds. Member, City of Los Angeles Workforce Investment Board Service on WIA Operations and Business Services Committees. Director, U.S.- Mexico Chamber of Commerce (California Pacific Chapter) Chair of the Education Committee. Board of Directors, California State University, Los Angeles, University Auxiliary Services, Inc Member of the Audit Committee. Chairman ( ) and member of Board of Trustees, University of West Los Angeles, Los Angeles, California, Served as Chair of Finance and Facilities Committee. Director, Savant Corporation, Boca Raton, Florida, Served as Chair of the Finance Committee and member of the Strategic Planning Committee. Director, Farmers Bank of Maryland, Annapolis, Maryland, Served on the Bank s Executive Committee. Director, First Virginia Bank-Central Maryland, Bel Air, Maryland, Served on the Bank's Executive Committee. Director, Conducting Materials Corporation (CMC), Hunt Valley, Maryland, Directed the firm's strategic planning effort, and overseeing accounting, finance, management and marketing activities. Director, Clifton Trust Bank, Baltimore, Maryland, Served on the bank's Executive 3

13 and Investment Committee. Assisted Clifton Trust Bank in merger negotiations with First Virginia Bank. Established Employee Stock Ownership Plan (ESOP). Member, Investment Endowment Committee, United Way of Central Maryland Developed plan objectives, constructed asset allocation parameters, monitored portfolio's investment results, and evaluated portfolio manager s performance. Served as Chair of the Investment Endowment's Portfolio Manager Search Committee. Director and Chairman of the Investment and Finance Committee, The John Frederick Weisnner Foundation for Children, Baltimore, Maryland, Developed investment targets, selected appropriate investment vehicles, and monitored investment portfolio's performance. Director, Financial Executives Institute, Baltimore Chapter, Served as Chairman of Professional Development and Membership Attendance Committees. Director, Wednesday's Child Foundation. Baltimore, Maryland, Served on Allocation and Investment Committee. Consultant, The Ayd Corporation. Baltimore, Maryland, Evaluated financial structure, established commercial banking relationships, and served as business advisor. ACADEMIC EXPERIENCE Chapman University: Presidential Fellow in Free Enterprise and Professor of Finance Course Assignment: MBA Managerial Finance & Undergraduate Financial Management Towson University: Professor of Finance (Tenured) Courses Taught: Committee Assignments: Financial Management, Investments and Securities Analysis, Advanced Corporate Finance, Investing on the Internet, Financial Policy. AACSB Re-accreditation Steering Committee AACSB Intellectual Contributions Committee, Co-Chair Honors College Committee Council of University System Faculty (CUSF) CUSF Finance Subcommittee CUSF Chair Nominating Committee SB&E Faculty Council SB&E Promotion and Tenure Committee 4

14 University of Baltimore: Courses Taught: Committee Assignments: Loyola College: Courses Taught: Committee Assignments: Middendorf Chair and Professor of Finance (Tenured) Financial Management, Investment Analysis, Advanced Financial Management, Bank Management. Dean's Blue Ribbon Committee Department of Economics and Finance P & T Committee Graduate Admissions Committee Undergraduate Finance Advisor Associate Professor of Finance (Tenured) Financial Management, Investment Analysis, Advanced Financial Management, and Financial Research Topics. Graduate Admissions Committee MBA Comprehensive Examination Committee Finance Faculty Search Committee Towson State University: Courses Taught: Committee Assignments: Assistant Professor of Business (Tenured) Financial Management, Investment and Securities Analysis, Advanced Corporate Finance Business Administration P & T Committee Treasurer, Faculty Association Transfer Credit Task Force HONORS AND AWARDS Named Chairman Emeritus by University of West Los Angeles Board of Trustees. November Received AACSB Japan Study Tour Scholarship. Served as Delegation Leader. June Received Towson University s 1997 Faculty Excellence Award. 5

15 Nominated for the Excellence in Assessment Award for Department of Finance s Curriculum Design, Nominated by the Department of Finance for the School of Business and Economics', "Best Teacher Award," Nominated by the Department of Finance for the School of Business and Economics', "Best Teacher Award," (First year of eligibility) Inducted into Omicron Delta Kappa, "National Leadership Honor Society," April Finalist, Dean James Chair (Excellence in Teaching Award), University of Baltimore, Academic Year Finalist, Black and Decker Chair (Excellence in Research Award), University of Baltimore, Academic Year Awarded the Middendorf Chair of Finance (Distinguished Chair), by The University of Baltimore, January Inducted into The George Washington University Chapter of Beta Gamma Sigma, "National Business Honorary Society," March Received the Outstanding Faculty Grant Award, Presented by the Towson State University Student Government Association. Served on the American Bankers Association's Council of Economic Advisor's Educational Subcommittee, Awarded Graduate Research Assistantship at the University of Dayton, MEMBERSHIPS IN PROFESSIONAL ORGANIZATIONS Member: Member: Member: FINRA Board of Arbitrators Beta Gamma Sigma Omicron Delta Kappa 6

16 Darrah Morgan Manager of Tariffs, Advice Letters, and Case Administration March 19, 2018 California Public Utilities Commission 505 Van Ness Avenue San Francisco, CA Attn: Energy Division Tariff Unit Re: Substitute Sheet for Advice 3750-E, Confirmation of Southern California Edison Company's Nominee to the Committee of its Nuclear Decommissioning Trust Funds Dear Energy Division Tariff Unit: Attached is a revised version of page 2 of Advice 3750-E, Confirmation of Southern California Edison Company's (SCE s) Nominee to the Committee of its Nuclear Decommissioning Trust Funds, filed on February 23, The first paragraph on page 2, which is a continuation of the paragraph at the bottom of page 1, is being revised as shown below. The revisions are based on conversations with Energy Division staff and are correcting the list of current members serving on the Committee of SCE s Nuclear Decommissioning Trust Funds as non-sce affiliated Committee members. Peters, G. Timothy Haight and Daniel P. Garcia (who will resign as of April 10, 2018 and be replaced by Michael F. Henn) currently serve as the non-sce affiliated Committee members. This substitute sheet is being filed in accordance with General Order (GO) 96-B, General Rule, Section which allows utilities to make minor revisions to an advice filing prior to its requested effective date. Please include the enclosed sheet in your master for Advice 3750-E and distribute to those reviewing the filing. If you have any questions, please contact me at (626) Enclosure Sincerely, Copy: James Loewen, CPUC Energy Division David Zizmor, CPUC Energy Division GO 96-B and Application et. al., service lists /s/ Darrah Morgan /s/ Darrah Morgan /s/ Darrah Morgan Darrah Morgan Manager of Tariffs, Advice Letters, and Case Administration P.O. Box Rush St. Rosemead, California (626) Fax (626)