Day 1 – Foundations of Regulation
- Introduction & Overview of Training: Overview of objectives, participant roles, and the rate case learning.
- Overview of the Industry: Regulatory Agencies and Utility Industries in the U.S
- Overview of Regulation in the U.S.: Landmark Federal Laws, State and Federal Regulatory Processes, Financial Structure of Investor-owned/ Cooperatives/Municipal/Cooperatives
- Legal Framework at the State Level: PUCs, Consumer Advocate, and State Agencies (DEP,DCA) Legal challenges, and utility case studies briefs.
- Regulatory Framework at the State Level: Regulatory Process, Major State Agencies and their Regulatory Roles, Utilities and Stakeholders, Public Hearing and Regulatory Approval Processes
- PJM RTO: Functions and Offerings: Energy markets (day-ahead, spot, bilateral), Transmission planning including transmission interconnection queues, Energy acquisition auctions-Basic residual, capacity, Impact of Peak Loads and Location Marginal Pricing, Role of the Independent Market Monitor
- Utility (Electricity/Gas/Water) pricing
Day 2 – Revenue Requirement Deep Dive
- Fundamentals of Utility Finance-Capital vs. Operating Expenses, Revenue Requirements and Cost Recovery, Depreciation and Capital Planning, Debt Service and Financial Reserves, Cost of Service Analysis
- Accounting Principles Test Year Concepts – Balance Sheet and Income Statements, Operating Expenses and Adjustments, Capital Structure & Cost of Capital, Cost Allocation & Rate Design,
- Hands-on Exercises, Analysis of Financial Information, Asset Management and Financial Planning
- Foundations of Utility Regulation: Revenue Requirements and Test Year, Rate Base Development, Mock Rate Case Application, Consumer & Stakeholder Perspectives, Emerging Approaches
- Rate Case Filing: Rate Filing Process, State Tax Adjustment Strategies (STAS), Infrastructure Financing
Day 3 – Rate Design & Rate Case Proceedings
- Goals of Rate Design: Equity, Efficiency, Simplicity, Revenue Stability, Rate Design Concepts, Principles, and Methods, Operating Expenses and Adjustments, Capital Structure & Cost of Capital,
- Rate Design for Special Considerations, Rate structures, Conservation Pricing (Energy/Gas/Water), Wholesale and Bulk Rates, Affordability and Lifeline rates
- Regulator’s Approach to Rate Proceedings (PUC Staff), Rate Counsel’s Approach to Rate Case Proceedings, Utilities’ Approach Perspective of Rate Proceedings, Utilities’ Approach Perspective of Rate Proceedings
Day 4 – Mock Rate Case Exercises
- Filing Requirements & Procedural Steps: Application, discovery, testimony, hearings, settlement.
- Roles of Parties: Utility, commission staff, intervenors, rating agencies and public advocates.
- Mock Hearing Preparation: Reviewing testimony, crafting questions, and understanding evidence.
- Workshop: Cross-examination practice.
- Advanced Topics in Rate Setting
- Impact of conservation on revenue
- Demand forecasting and elasticity
- Long-term financial planning and scenario modeling
- Integrating asset management into rate development
- Risk and resilience pricing case studies
- Resource Adequacy (RA)
- Resiliency of Utilities: NJ Energy Case Study-Effect of Renewable Portfolio Standards, Greenhouse Gas Reduction, Decarbonization requirements, Regional Greenhouse Gas Initiative (RGGI)
Day 5 Concluding Training (Half Day)
- Data Centers: Impact on Energy and Water Industries
- Use of Energy Analytics and AI Modeling
- Hearing from Participants and Experts for Future Sessions
- Distribution of Certificates
If you have any questions or need additional information, please contact us at cesac@montclair.edu.