July 2005 Conference
July 14-15, 2005
Introduction to Rate Cases and Rate Design
This course is designed as an introduction to the process of rate cases and rate design providing the foundational economic and pricing principles. Employees of public utility commissions such as administrative law judges, lawyers, new rate staff and commissioners’ assistants should attend. New rate and regulatory staff from utility companies and consumer advocates should also attend.
Agenda
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Thursday, July 14, 2005
9:00 am Registration /Breakfast
10:00 am Overview of the Rate Making Process
- Presenter:
- David Loomis
Noon Lunch
1:00 pm Revenue Requirements/Cost of Capital
- Presenter:
- David Loomis
2:30 pm Break / Refreshments
3:00 pm Cost of Service Studies
- Presenter:
- Sherman Elliott
5:00 pm Close
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Friday, July 15, 2005
8:00 am Continental Breakfast
8:30 am Economic Cost Concepts: Marginal Cost and Average Cost
- Presenter:
- Sherman Elliott
10:00 am Break
10:30 am Determining Rates and Rate Structures
- Presenter:
- Sherman Elliott
Noon Lunch
1:00 pm Review of Process and Q&A
- Presenter:
- David Loomis
3:00 pm Close
About the Instructors
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David G. Loomis
David G. Loomis is Executive Director of the Institute for Regulatory Policy Studies and Associate Professor of Economics at Illinois State University where he teaches in the Master’s Degree in electricity, natural gas and telecommunications economics. He was awarded the University’s Teaching Initiative Award in 1999.
Prior to joining the faculty at Illinois State University, Dr. Loomis worked at Bell Atlantic (Verizon) for 11 years as a research economist. He has published articles in the Review of Industrial Organization, Utilities Policy, Information Economics and Policy, and the Journal of Economics Education. He has also co-edited two books with Lester Taylor and written several book chapters.
Dr. Loomis received his Ph.D. in economics from Temple University. -
Sherman J. Elliott
Sherman J. Elliott was named Manager, State Regulatory Affairs for the Midwest Independent Transmission System Operator (MISO) in June 2004. In this capacity, his responsibilities include monitoring regulatory filings, and maintaining regulatory liaisons with the legislative, utility, regulatory and stakeholder communities for the states in which MISO provides service.
Prior to joining MISO, Mr. Elliott was a senior energy policy advisor for the Illinois Commerce Commission, advising Commissioners on the policies, issues and opinions relating to the industries regulated by the ICC and the FERC. Mr. Elliott worked in that capacity for 8 years, advising Commissioners Mary Frances Squires, Edward Hurley and Brent Bohlen over that period. From 1990 to 1996, Mr. Elliott served as a Senior Economist in the rates section of the Public Utilities Division of the ICC where he developed and provided expert witness testimony on marginal and embedded cost-of-service rate design and rate planning matters within the context of electric and gas litigated proceedings.
Mr. Elliott received his Bachelor and Masters Degrees in Economics from the University of Illinois, Springfield.