1. An example of the calculation of the earned regulatory return on equity for one or more of regulated entities and utility services and a reconciliation to the financial ROE for that business if available.




2. A page from a presentation to financial analysts or others showing some or all of the financial measures for the utility or the parent company. These financial measures should include shareholder return, ROE and book values.

If your company has multiple utility subsidiaries or operates in multiple states you may want to select one or more regulated utility companies and states as the examples rather than provide information for all rate cases. If your organization is a Public Utility Commission choose one or two utilities that you feel would be good examples for the seminar and try to get the information for these companies. This should be done for all of the Info Requests below.

1. The most recent litigated rate order. This should be an order which shows disallowances and the development of the revenue requirement (not a case which was settled).

2. Two or three examples of expenses disallowed in a rate case with relevant sections from the testimony of various parties and the commission’s decision.




3. One or two examples of rate base items disallowed in a rate case with relevant sections from the testimony of various parties and the commission’s decision.




4. A description of any kind of adjustment to rates other than the rate case. For example, fuel or gas adjustment clauses, weather normalization. Include information on which jurisdictions, frequency, lag in changing the rate and whether this change is separately shown on the customer’s bill




5. An executive summary of the issues and outcome in the rate case.




6. If the last rate case was settled, the order from that settlement and a summary of that case.




7. A chart similar to the one shown here for the each jurisdiction and utility service with reference to the last rate order

   Jurisdictions/Services	FERC	STATE 1	STATE 2
   % of Parent Company Revenue
   Date Filed
   Date of Last Rate Order
   Allowed Return on ST Debt
   Allowed Return on LT Debt
   Allowed Return on Preferred
   Allowed Return on Equity
   Overall Allowed Return
   Test Year Ended
   Type of year used is generally used (historic, projected)
   Is the year used called the test year or rate year?
   Does the commission reduce the rate base by the deferred?
   Taxes due to the normalization method or include these deferred taxes at a zero rate in the allowed return on rate base?
   Comparison of the State Commissions. Please provide this report if available. If known, what test year will be used for the next rate case?
   When will the next rate case be filed? Label this as to whether it is a known date or guess.
   Why will the next rate case be needed?
   What were the major issues in the last case?
   What will be the major issues in the next rate case?

1. What kind of advertising is allowed above-the-line in rates in each jurisdiction? Why?




2. Please provide details of any advertising disallowance in a recent rate case including relevant sections from the testimony of various parties and the commission’s decision.




3. Did the company have any disallowance of contract costs in recent rate cases? Please provide details including relevant sections from the testimony of various parties and the commission’s decision.

1. An example of the calculation of the earned regulatory return on equity for one or more of regulated entities and utility services and a reconciliation to the financial ROE for that business if available.




2. A page from a presentation to financial analysts or others showing some or all of the financial measures for the utility or the parent company. These financial measures should include shareholder return, ROE and book values.

1. An example of the calculation of the earned regulatory return on equity for one or more of regulated entities and utility services and a reconciliation to the financial ROE for that business if available.




2. A page from a presentation to financial analysts or others showing some or all of the financial measures for the utility or the parent company. These financial measures should include shareholder return, ROE and book values.

1. An example of the calculation of the earned regulatory return on equity for one or more of regulated entities and utility services and a reconciliation to the financial ROE for that business if available.




2. A page from a presentation to financial analysts or others showing some or all of the financial measures for the utility or the parent company. These financial measures should include shareholder return, ROE and book values.

1. An example of the calculation of the earned regulatory return on equity for one or more of regulated entities and utility services and a reconciliation to the financial ROE for that business if available.




2. A page from a presentation to financial analysts or others showing some or all of the financial measures for the utility or the parent company. These financial measures should include shareholder return, ROE and book values.

1. Are there any examples in the past where there was a timing difference larger than the depreciation timing difference?




2. A chart similar to the one shown here for the each jurisdiction and utility service.

   States	STATE 1	STATE 2	STATE 3 …
   Is any flow through used
   Examples of largest flow through items
   Overall tax rate Federal + State (net of Federal deduction)

1. Analysis of the company’s cost of capital (i.e., discount rate in the engineering economics’ analysis).




2. What is the hurdle rate used for capital budgeting decisions? Is it the same for all projects?




3. A copy of the cost of capital testimony from a current rate case or the last rate case. This should include all the exhibits especially the DCF methodology.




4. What is the Bond Rating on the senior secured debt from S&P and Moody’s?

1. Does the company have a standard computer program or excel template for making major capital expenditure decisions? If so provide a sample analysis including a summary page or two showing the present value of the cash flows analysis. Please send a copy of any manual or documentation on how the company’s computerized project analysis system works.

If your company has multiple utility subsidiaries or operates in multiple states you may want to select one or more regulated utility companies and states as the examples rather than provide information for all rate cases. If your organization is a Public Utility Commission or a Law Firm please choose one or two utilities that you feel would be good examples for the seminar and try to get the information for these companies. This should be done for all of the Info Requests below.

1. The most recent litigated rate order. This should be an order which shows disallowances and the development of the revenue requirement (not a rate case which was settled).

2. Two or three examples of expenses disallowed in a rate case with relevant sections from the testimony of various parties and the commission’s decision.




3. One or two examples of rate base items disallowed in a rate case with relevant sections from the testimony of various parties and the commission’s decision.




4. An executive summary of the issues and outcome in the rate case.




5. If the last rate case was settled, the rate order from that settlement and an executive summary.




6. A chart similar to the one shown here for the each jurisdiction and utility service with reference to the last rate order

   Jurisdictions/Services	FERC	STATE 1	STATE 2
   % of Parent Company Revenue
   Date Filed
   Date of Last Rate Order
   Allowed Return on ST Debt
   Allowed Return on LT Debt
   Allowed Return on Preferred
   Allowed Return on Equity
   Overall Allowed Return

1. Does the company have any adjustments to their rates which occur without a general or overall rate case (i.e., one which addresses all of the utility’s revenue requirement). If so please include a description of how this works.




2. Does the company operate under any of the items listed above. If so please provide details.




3. Steps the company has taken to address the problem of Regulatory Lag.

1. A copy of the last order from the commission discussing recovery of an energy adjustment (if applicable).




2. A description of how each type of adjustment mechanism works (including trackers, riders, balancing accounts, etc.). Frequency of rate adjustment, when the adjustment occurs, any interest accrued, is the adjustment a 100% pass through, etc.




3. What are the clauses called?




4. A recent rate order for such an adjustment mechanism.




5. An example of a disallowance of costs related to an adjustment clause.




6. What are the additional charges or credits called on the ratepayers’ bills?




7. A sample bill sent to a customer and a written description of how to read this bill (if one exists).

1. Which parts of the utility if any do not follow ASC 980?




2. Which parts of the parent company do not follow ASC 980?




3. What is  the largest non-regulated revenue activity of the utility and what percent of the total revenue of the utility does this represent?




4. If any utility operations went off of ASC 980 in the last 10 years please identify why that occurred, when that occurred.




5. Provide an example of a ASC 980-360-35 disallowance at the company or sister utility company.  This would be a disallowance of new utility plant which was on ASC 980.




6. Provide an example of an ASC 360-10-15 impairment loss.  This would typically be for non-regulated plant or deregulated plant.




7. A list of the Regulatory Assets and Liabilities at the utility with amount, amortization period, whether approved for recovery and whether include in rate base or interest is accrued on the amount.




8. An example of a regulatory asset for which the commission subsequently disallowed all or a portion from recovery.




9. What is the Bond Rating on the senior secured debt from S&P and Moody’s?

1. A description of the capitalization policy of the utility.




2. A few pages from the list of retirement units of property and the dollar amount above which items which are not part of retirement units nor retirement units themselves are capitalized.




3. Under what conditions would a desktop computer be capitalized?

1. A copy of an analysis done to determine whether the utility has a reserve deficiency.




2. A copy of the last depreciation study.




3. Information regarding which plant assets have removal cost included in rates. What percent of the total gross plant is of this nature.




4. What assets have an ASC 410-20 Asset Retirement Obligation. Provide an explanation of the dollar changes from the end of the year before last to the end of last year in either one of these assets or the total for the utility.

1. What are the largest permanent differences at the utility?




2. Are there any examples in the past where there was a timing difference larger than the depreciation timing difference.




3. A chart similar to the one shown here for the each jurisdiction and utility service

States	STATE 1	STATE 2	STATE 3 …
Is any flow through used
Examples of largest flow through items
Overall tax rate Federal + State (net of Federal deduction)

1. No Info needed

1. A copy of a Monthly Capital Project cost summary with budget versus actuals. This should be a report which the Project Manager would receive.




2. How is the AFUDC rate determined in each jurisdiction? Is the FERC methodology used? If not specify the procedure.




3. A copy of the AFUDC rate determination.




4. Is the CWIP in the rate base for any jurisdictions? Specify amount and how and when this amount was determined.

1. Does the company own or lease its office building? Why?




2. Does the company have any capital leases? Describe.




3. Does the company use any of the following financial metrics for internal or external reporting? EBIT, EBITDA, Cash Flow, Free Cash Flow. Please provide the definition used and a sample of a report on which this metric appears.

1. Copies of the last detailed analysis by S&P and Moody’s resulting in the current bond rating. These should be documents between 8 and 25 pages long.