|Tyndall Centre Visiting
SPRU — Science & Technology Policy Research
University of Sussex, UK
Energy Economics, Finance & Technology
Actively engaged in research, consulting and publication for over 30 years in a variety of areas including: utility regulation and restructuring, energy and the environment, finance and investment analysis, process innovation, accounting measurement theory and public policy analysis
70 invited presentations and workshops for corporate and public policy makers, regulators and academic institutions; 60 major conference presentations.
Assistant Professor of Finance
Editorial Board Member
Affiliated Research Fellow,
CITI, (‘87-‘93) and Visiting Scholar
Listed: Who’s Who in
the East, Macmillan (Marquis)
Electricity Market Restructuring– Transmission Organization Regulation and Pricing
Led a prominent team of experts (R. Bower, M. Crew, L. Hyman, M. Ilic, L. Fink, P. Kleindorfer, S. Oren and I. Vogelsang) in the design of innovative organizational, pricing and regulatory regimes for transmission networks; findings published in book form (1999).
Testified before FERC in support of International Transmission Company’s filing as the first ITC under FERC Order 2000; 7 million approved by FERC.
Process Innovation – Strategic Analyses – Activity-Based Costing – Technology Adoption
Developed and implement process improvements for major US utility including: i) Activity-based-cost (ABC) to identify non-value adding activities and develop innovative maintenance scheduling/planning strategies to fit the firm’s geographically dispersed asset portfolio (savings: million p.a.); ii) Cost-cutting processes and protocols (savings: million p.a.), and iii) Sophisticated investment analysis including risk and timing/life-cycle of new technologies; enabled firm to avoid uneconomic million operations center investment.
Applied capital market theory to demonstrate that private and societal benefits of a Fortune 100 firm’s emissions control technology exceeded costs by 4 million, contrary to Big-6 analysis.
Directed Activity-Based-Cost analysis for advanced metering; demonstrated conventional electric metering costs of /meter annually, four times the previous estimate.
Analyzed financial/strategic value of a utility’s transmission business including asset valuation, debt capacities, risk and cost of capital; findings reversed previous decision to divest, ultimately yielding million in annual benefits.
CAPM-Based Valuation of Nuclear Sale
Evaluated proposed nuclear sale to show that by reducing risk, the sale produced significant savings, rather than creating 0 million in costs as previously estimated.
Applied lease-based valuation to demonstrate that a PPA’s “excess cost” was 0 million less than previously thought, thereby reducing the firm’s regulatory penalty by that amount.
Used risk-adjusted methodologies to demonstrate that a PUC-mandated fuel-switching program was not cost-effective thereby saving million annually.
Environmental/Societal Impacts of Technologies and Startegies
Used societal and market-based approaches and Lind-Arrow theory to show that an Indian Nation’s energy efficiency investments were cost-effective.
Regulatory Depreciation and Operations Analysis
Provided theoretical justification for shorter telecommunications equipment depreciation lives by showing that accelerated depreciation reduces regulated rates.
Helped a utility better utilize its fossil generation by modifying deployment protocols on the basis of econometric analysis of O&M cost drivers; reduced cost by 0 million p.a.
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