CE CAPITAL ADVISORS - Key Persons
Job Titles:
- Senior Project Manager
- Energy Industry Consultant
Mr. Cochis is an energy industry consultant with regulatory and legal experience before state and federal agencies. His broad experience includes gas and electric distribution company rate cases, Federal Power Act proceedings, and rulemakings. He specializes in case strategy and regulatory requirements in retail and wholesale cases.
As a consultant, Mr. Cochis has experience in complex project management and client development. His subject matters include Grid Modernization, merger review, accelerated capital replacement plans, specialized cost recovery mechanisms, rate theory, storm response, renewable energy, power purchase agreements, and tariffs.
Prior to joining Concentric, Mr. Cochis worked as an Assistant Attorney General in the Utilities Division of the Massachusetts Attorney General's Office. While there, he drafted interventions and other regulatory filings for state and federal proceedings as well as regulatory briefs, settlements, and comments for administrative cases. He also analyzed regulatory filings and developed litigation plans, and participated in multi-party settlement negotiations and stakeholder collaboratives. He holds a Juris Doctor from Western New England College School of Law and was a visiting J.D. student at Suffolk University School of Law.
Ms. Nori is a versatile, highly analytical, and dedicated Certified Depreciation Professional with over ten years of experience completing depreciation studies.
Ms. Nori's areas of expertise include data processing, Iowa curve estimation, cost of removal, gross salvage estimation, statistical analysis depreciation expense analysis, testimony preparation, post filing services, business analysis, service life estimation, financial and actuarial analysis, simulated retirement analysis, and regulatory compliance. She routinely reviews and evaluates complex financial data to ensure regulatory compliance within jurisdictions throughout Canada, and has experience working with clients throughout the natural gas and electric utility, pipeline, transmission, and railway industries across North America. Most recently Ms. Nori has completed work on electric transmission cases for AltaLink, ATCO Electric Transmission, and Manitoba Hydro, along with natural gas transmission cases for Viking Pipelines.
Ms. Nori is a graduate of the University of Calgary, Alberta, and has been a member of the Society of Depreciation Professionals since 2010. Ms. Nori has completed the Public Utilities Management and Regulation Graduate Certificate through the University of Illinois at Springfield.
Education
B.A., European History, University of Calgary, Alberta
Mr. Davis has worked on a variety of engagements at Concentric related to renewable energy, innovative regulatory models, nuclear regulatory issues, and expert testimony preparation. Prior to joining Concentric, Mr. Davis worked for over seven years on a wide range of electric power and regulatory issues at the Massachusetts Department of Public Utilities. His experience at the Department includes matters pertaining to clean energy policies, grid modernization, dynamic pricing, competitive electric markets, utility provision of retail electric supply, electric system reliability, service quality, and utility mergers.
Mr. Davis's experience in sustainable electricity policies and regulation includes utility-administered energy efficiency programs, electric rate decoupling, long-term contracts for renewable generation, electric vehicles, and net metering. As a part of Concentric's Utility of the Future Team, he has supported utilities with regulatory construct reform, proposed innovation incentives, and utility-sponsored solar programs.
Mr. Davis has a Master's degree in Public Policy from the Kennedy School of Government at Harvard University, a B.A. cum laude from Harvard University, and a Master of Divinity from Andover Newton Theological School.
Education
M.P.P., Kennedy School of Government, Harvard University
M.Div., Andover Newton Theological School
B.A. cum laude, Harvard University
Briana Adams, Project Manager, analyzes energy asset value issues, municipalization trends, mergers and acquisitions in the energy space, utility of the future initiatives, fuel economics, gas-electric co-optimization, and infrastructure issues. Her recent work efforts have focused on valuing utility energy assets, cost of equity regulatory experience, and developing distribution implementation plans for integrating renewables and advanced technologies into utility operations. Prior to joining Concentric, Ms. Adams held consulting positions at ICF International, with a focus on natural gas energy economics issues, focusing on pipeline infrastructure, shale gas development, economic analysis of LNG exports, and North American gas supply access issues. Ms. Adams has over seven years of international work experience, with emphasis on China and the Middle East. She holds a master's degree in International Affairs, with a concentration in Energy Economics, from Columbia University, and a bachelor's degree in Economics, International Management, and Spanish from Hamline University.
Education
M.A., International Energy Management and Policy, Columbia University
B.A., Economics, International Management, Spanish, Hamline University
Job Titles:
- Executive Advisor
- Member at the Institute of Public Utilities
Carl Peterson, Ph.D, Executive Advisor, was a senior consultant with NERA Economic Consulting (2000-08), a senior advisor for energy policy (1996-2000), a rates economist (1994-96) at the Illinois Commerce Commission, and a staff economist at the Center for Regulatory Studies at Illinois State University (1993-94). Dr. Peterson has advised governments and private entities in Europe and the US on issues related to the regulation of public utilities since 1998.
Dr. Peterson has been a program faculty member at the Institute of Public Utilities at Michigan State University and has taught economics at Illinois Central College and Eureka College. His work has appeared in The Electricity Journal, Natural Gas and Electricity, and several edited volumes.
Education
Ph.D., Economics, University of Illinois, Chicago
B.S. & M.S., Economics, Illinois State University, Normal
Job Titles:
- Vice President
- Financial and Economic Consultant
Ms. O'Neill is a financial and economic consultant with more than 20 years of experience in the energy industry. She has a broad range of experience, including regulatory policy formation, merger and acquisition due diligence, litigation support, asset valuations, and asset-based transactions. Additionally, she has extensive state and federal regulatory experience with both electric and natural gas issues, including rate case proceedings, prudence reviews, regulatory strategy, cost of service analysis, and rate design.
Ms. O'Neill has performed a variety of economic analyses, extensive regulatory research, and has assisted in the preparation of regulatory testimony topics such as cost of capital and return on equity, cost of service, and various other regulatory topics. She has also assisted in the preparation of testimony in litigation and other non-regulatory legal proceedings. Ms. O'Neill has assisted numerous gas and electric utilities with merger and acquisition due diligence, including regulatory, financial, and market assessments. Specifically, Ms. O'Neill served as the financial advisor to a city that was purchasing a utility. She assisted the city with reviewing and assessing the proposed purchase from a commercial perspective, as well as evaluating the terms of the transaction, risk characteristics, employee and community considerations.
Job Titles:
- Certified Public Accountant
- Executive Vice President
- Member of the Board
Mr. Dane has over 15 years of experience in the energy and financial services industries providing advisory services to power companies, natural gas pipelines, and local gas distribution companies in the areas of regulation and ratemaking, litigation support, generating asset divestitures, valuation, financial statement audits and analysis, and the examination of financial reporting systems and controls. He has also provided expert testimony on regulated ratemaking matters for investor- and provincially-owned utilities, including revenue requirements, the cost of capital, capital structure, lead-lag studies/cash working capital, and rate base development.
Mr. Dane is a certified public accountant and is a licensed securities professional (NASD Series 7, 28, 63, 79, and 99). In addition to his consulting work, he serves as the Financial and Operations Principal of CE Capital Advisors, a FINRA-Member firm and a subsidiary of Concentric Energy Advisors. CE Capital is a securities firm that provides services relating to corporate mergers and acquisitions, the valuation of securities, and capital market support. In his role at CE Capital, Mr. Dane has developed fairness opinions to Boards of Directors of companies entering into asset purchases and sales. He has led valuation modeling on multiple energy-related valuation assignments using the Income Approach, Cost Approach, and Sales Comparison Approach.
Education
M.B.A., Boston College
B.A., Economics, Colgate University
Job Titles:
- Executive Vice President
- Member of the Board
Ms. Powers has over 29 years of experience in the wholesale and retail electricity markets, power generation, and energy consulting fields with considerable expertise in wholesale electric market operations and analysis, transmission system planning and operations, generation asset sales and acquisitions, asset valuation, wholesale and retail energy planning and procurement, and power plant operations. She has experience in executing both regulated and unregulated fossil and renewable generation asset sale transactions in the areas of regulatory analysis, policy development, due diligence analyses, energy market assessment, and business unit strategy. With her significant experience in preparing market assessments and forecasts, Ms. Powers has advised several clients on the procurement of competitive electricity in deregulated markets by developing strategic procurement strategies, preparing solicitation packages, evaluating supply and service proposals, and negotiating contracts with retail energy suppliers.
Ms. Powers has been extensively involved in the design, implementation, and operation of the ISO New England Forward Capacity Market as well as the operation of existing wholesale markets in the New England power region. Part of her role in this project was to manage the market design effort, which included designing several processes and procedures pertaining to resource qualification, capacity requirements, and market power mitigation and settlement. Ms. Powers drafted several sections of the Market Rules and presented the draft rules to market participants during approximately 20 meetings over a six-month period.
Education
M.B.A., magna cum laude, Bentley College
B.S., Mechanical Engineering, University of Massachusetts
Mr. Heintz has over 30 years of experience working with regulated rates and tariffs at both the federal and state levels, providing clients with analyses of natural gas projects, markets, and issues. Mr. Heintz's areas of expertise include cost of service, allocation and rate design, tariff terms and conditions, rate case preparation, and regulatory issues.
Mr. Heintz's regulatory analysis and ratemaking experience extends to most of North America, and he has prepared cost of service studies for many U.S. and Canadian gas and electric utilities. Mr. Heintz was responsible for the development, defense, implementation, and administration of a Northeast gas company's rates in rate cases and CGA filings. He prepared annual sales, revenue, margin, and gas cost forecasts for budgeting and financial reporting, directed the company's load research project, and represented the company in regulatory proceedings. Mr. Heintz was also responsible for all aspects of a pipeline company's rate department, including cost-of-service allocation and rate design, certificates, and analysis of other pipeline Federal Energy Regulatory Commission (FERC) filings. He represented the company and supported its positions through testimony and negotiations with regulatory agencies, customers, and investors.
Prior to joining Concentric Energy Advisors, Mr. Heintz was a Managing Consultant with Navigant Consulting, Inc. and has worked for the FERC, interstate pipelines and a local distribution company.
Education
M.B.A., University of Pittsburgh
B.S., Economics, Pennsylvania State University
Job Titles:
- Guarantee Application Support ( Electric Transmission )
- Guarantee Application Support ( Nuclear )
We assisted the client with its filing of the $9 billion U.S. Department of Energy ("DOE") loan guarantee application. We reviewed the feasibility of the project, evaluated the reactor technologies from a risk standpoint, attended meetings with the DOE on behalf of the client, responded to requests for additional information, and developed alternative financing plans. Throughout the assignment, […]
We managed all of our client's overall transmission-related U.S. Department of Energy ("DOE") loan guarantee effort. Working with the client's internal team and its other outside advisors, our team was responsible for insuring that the client was well-positioned to have its application favorably received by the DOE, all required documentation for the application was completed and filed […]
Job Titles:
- Senior Vice President
- Professional Engineer
Mr. Small is a licensed professional engineer with twenty-nine years of combined experience in management consulting, transmission and distribution planning, and operations at an electric utility. He is a thought leader and highly-experienced senior member of Concentric's Future of Energy team and focuses on Grid Modernization and Distributed Energy Resource (DER) integration. By leveraging his engineering and utility operations background, Mr. Small offers clients a cohesive Future of Energy strategy that combines technology, finance, and regulatory services.
Mr. Therrien provides regulatory strategy and financial rate case expertise to regulated and unregulated entities in the natural gas, electric, and water industries. He has performed a multitude of consulting engagements including expert testimony on the subjects of allocated cost of service, rate design, rate consolidation, alternative rate plans, decoupling, revenue requirements, and natural gas infrastructure replacement programs. Other engagements include merger and acquisition due diligence, electric power plant retirement analysis (including securitization), billing system and rate mechanism audits, natural gas storage rate analysis, solar/renewable project evaluation, line extension policies, power procurement advisory services and tariff writing and administration.
Mr. Therrien holds an M.B.A. from the University of Connecticut, a B.S. in Finance from Bryant University, and is certified Project Management Professional (PMP).
Education
MBA, Concentration in Finance, University of Connecticut
B.S., Finance, Bryant University
James D. Simpson, Executive Advisor, has over 35 years of experience with regulatory relations, regulated pricing and business strategy. Since joining Concentric in 2005, he has been responsible for projects related to rates, decoupling mechanisms, capital and O&M tracker mechanisms, incentive ratemaking, marginal cost studies, cost of service adjustments, service quality measures, and demand forecasts. Prior to joining Concentric, Mr. Simpson held senior executive positions at a natural gas utility and an entrepreneurial company providing a proprietary service to generating companies. Mr. Simpson also held staff and director level positions at the Wisconsin Public Service Commission and the Massachusetts Department of Public Utilities.
Education
M.S., Economics, University of Wisconsin
B.A., Economics, University of Minnesota, magna cum laude
Job Titles:
- Member of the Board
- Senior Vice President
Mr. Coyne is a Senior Vice President with over three decades in the energy industry. He provides financial, regulatory, strategic, and litigation support services to clients in the natural gas, power, and utilities industries. Drawing upon his industry and regulatory expertise, Mr. Coyne regularly advises utilities, public agencies, and investors on business strategies, investment evaluations, and matters pertaining to rate and regulatory policy. Recently, he assisted a client on a multi-year engagement, reviewing performance metrics and developing data to be used in a custom distribution rate application. Mr. Coyne helped the client draft and submit this application to the client's regulatory authority.
Mr. Coyne has authored numerous articles on the energy industry and provided testimony and expert reports before the Federal Energy Regulatory Commission and jurisdictions in the U.S. and Canada. He is a thought leader who has spoken on the topics of utility regulation, return on equity, business strategy, and other energy matters.
Prior to Concentric, Mr. Coyne worked in senior consulting positions focused on North American utilities industries, in corporate planning for an integrated energy company, and in regulatory and policy positions in Maine and Massachusetts. He holds a B.S. in Business from Georgetown University with honors and an M.S. in Resource Economics from the University of New Hampshire. He also serves on Concentric's Board of Directors.
Education
M.S., with Honors, Resource Economics, University of New Hampshire
B.S., Cum Laude, Business Administration and Economics, Georgetown University
Ms. Nelson is a talented regulatory consultant with nearly thirteen years of experience in the energy industry, spanning the oil, natural gas, electric, and renewable energy segments.
Ms. Nelson's expert witness experience includes testimony on cost of capital and alternative ratemaking proposals in several states, including Arkansas, Kentucky, Maine, New Mexico, Texas, and West Virginia. In addition, she has performed research and analysis on a variety of utility regulatory matters, including ratemaking and regulatory policy, integrated resource planning, electric grid modernization, energy efficiency, and wholesale energy markets. In her time as a consultant, Ms. Nelson has provided testimony development and analytical support regarding the Cost of Capital in more than 100 proceedings before numerous state regulatory agencies and the FERC. She has also supported expert witness testimony development and performed analysis on topics including the appropriate level of remuneration for long-term renewable power contracts, resource planning prudency issues, and PPA cost recovery.
Before joining Concentric, Ms. Nelson was a Director at ScottMadden, Inc. Prior to ScottMadden, she was a former staff economist at the Massachusetts Department of Public Utilities and a petroleum economist for the State of Alaska, where she managed the state's biannual oil and natural gas revenue forecast, and was responsible for the production forecast.
Ms. Nelson received a Bachelor of Science degree in Business Economics from Bentley College (now Bentley University), where she graduated magna cum laude, and a Master of Science degree in Resource and Applied Economics from the University of Alaska.
Education
M.S., Resource and Applied Economics, University of Alaska
B.S., magna cum laude, Business Economics, Bentley University
Mr. Stewart has over 30 years of experience, expertise, and insights on utility finance, regulatory policy, and ratemaking issues. During his time at Concentric, he has worked on a variety of regulatory matters ranging from rate of return and reliability-must-run cost of service revenue requirement estimates to activity based savings estimates resulting from specific corporate transactions.
Prior to Concentric, Mr. Stewart spent nearly three decades at the New York Public Service Commission (NYPSC). In that time, he testified as an expert witness and presented analyses directly to the Commission on a range of topics including rate of return, capital structure, bond ratings, financial integrity, cash flow adequacy, performance-based ratemaking, mergers and acquisitions, generation divestitures, prudence standards, revenue decoupling, nuclear power, demand-side management, and renewable resources. Specifically, Mr. Stewart has extensive rate case work experience, having been a supervisor of NYPSC rate case teams and then an advisor to the Commission on rate case issues. He worked as a staff member or supervisor on rate cases for all of New York's energy utilities.
Most recently, Mr. Stewart had the dual responsibilities of being the senior technical and policy advisor to the Commission while also serving as the Managing Director of the Commission's Offices of Accounting & Finance; Regulatory Economics; Energy Efficiency and the Environment; and Electric, Gas & Water.
Education
M.B.A., the State University of New York
B.S., Business Administration, St. John Fisher College
Job Titles:
- Chairman
- Chairman of the Board
- Chief Executive Officer
- Financial and Economic Consultant
Mr. Reed is a financial and economic consultant with more than 44 years of experience in the energy industry. Mr. Reed has also been the CEO of an NASD member securities firm, and Co-CEO of the nation's largest publicly traded management consulting firm (NYSE: NCI). He has provided advisory services in the areas of mergers and acquisitions, asset divestitures and purchases, strategic planning, project finance, corporate valuation, energy market analysis, rate and regulatory matters, and energy contract negotiations to clients across North and Central America. Mr. Reed's comprehensive experience includes the development and implementation of nuclear, fossil, and hydroelectric generation divestiture programs with an aggregate valuation in excess of $20 billion. Mr. Reed has also provided expert testimony on financial and economic matters on more than 400 occasions before the FERC, Canadian regulatory agencies, state utility regulatory agencies, various state and federal courts, and before arbitration panels in the United States and Canada.
After graduation from the Wharton School of the University of Pennsylvania, Mr. Reed joined Southern California Gas Company, where he worked in the regulatory and financial groups, leaving the firm as Chief Economist in 1981. He served as an executive and consultant with Stone & Webster Management Consulting and R.J. Rudden Associates prior to forming REED Consulting Group (RCG) in 1988. RCG was acquired by Navigant Consulting in 1997, where Mr. Reed served as an executive until leaving Navigant to join Concentric as Chairman and Chief Executive Officer.
Education
B.S., Economics and Finance, University of Pennsylvania
Mr. Weiss has worked on projects involving revenue requirements, class cost of service, allocation and rate design, cash working capital, rate of return, affiliate transactions, and rate case preparation for gas and electric utilities. As a consultant, Mr. Weiss has provided support for filings with several utility commissions and filed testimony as an expert witness on cash working capital before the Oklahoma Corporation Commission, the Missouri Public Service Commission, and the Illinois Commerce Commission. He has strong quantitative and research skills and experience in accounting issues.
Mr. Weiss has extensive rate and regulatory experience with gas, electric, and pipeline utilities. His experience includes the preparation of six gas and electric rate case filings for a Midwestern utility. The engagement included work associated with a gas and electric lead-lag study and the preparation of the rate case minimum filing requirements. In addition, Mr. Weiss managed the minimum filing requirements for a Midwestern holding company that held three different utility companies. He was also involved in the development of an electric rate case filing for an electric transmission and distribution provider in Texas. The project included the completion of the rate filing package associated with the rate case.
Prior to joining Concentric Energy Advisors, Mr. Weiss was a Consultant with Navigant Consulting, Inc. and has worked for a large Midwest investor-owned utility. Mr. Weiss has an M.B.A. from Southern Illinois University Edwardsville and a B.S. in Business Administration with a major in Accounting and Finance from Saint Louis University.
Education
M.B.A., Southern Illinois University
B.S.B.A, magna cum laude, Accounting and Finance, Saint Louis University
Job Titles:
- Assistant Vice President
- Financial and Economic Consultant
Mr. Nowak is a financial and economic consultant with more than ten years of experience in the energy industry. He specializes in providing rate case services on cost of capital matters related to return on equity and financial market issues. He is also experienced in providing strategic direction on financing activities including bond offerings, credit rating analysis, and investor relations.
Mr. Nowak's work with Concentric includes regulatory project management, research, and analysis for expert witness testimony. This includes expert testimony on capital structure and debt financing issues and expert testimony sponsoring lead-lag studies in support of utility cash working capital requirements. Additionally, Mr. Nowak has provided extensive support for expert testimony on cost of capital and return on equity proceedings through research, financial analysis, and testimony development. He has provided expert testimony in regulatory issues before regulatory commissions in several states, including Alaska, New Hampshire, New York, and Texas. Mr. Nowak has taken a lead analytical role in developing benchmarking analysis and process reviews, specifically developing benchmarking analysis comparing electric and gas utilities' cost and operational efficiency, taking into account a situational assessment of exogenous factors.
Previously, Mr. Nowak was the Director of Regulatory Strategy & Integrated Analytics at National Grid. He holds a Bachelor's Degree in Economics and History from Boston College.
Education
B.A., Economics and History, Boston College
Mr. Kennedy has been in the pipeline, electric and gas utility, and municipal infrastructure business for nearly 40 years. As Senior Vice President of Concentric Advisors ULC, Concentric's Canadian subsidiary, Larry is responsible for depreciation and valuation studies for gas and electric utilities including generation facilities, high voltage transmission lines, large diameter transmission pipelines, railway systems, and municipally owned utility systems.
Previously, Mr. Kennedy was with Gannett Fleming Canada ULC where he was responsible for completing depreciation studies and provided advice related to regulated capital accounting, large capital program spending and controls, and implementation of the International Financial Reporting Standards (IFRS) for many regulated utilities. Mr. Kennedy was also employed by Interprovincial Pipelines Limited (now Enbridge Pipelines) and Nova Gas Transmission Pipelines (now TransCanada Pipelines) as a Depreciation Specialist. In these roles, Mr. Kennedy led cost control and accounting teams to ensure that accurate financial information and financial controls were captured and that contractual commitments were followed.
Mr. Kennedy has presented depreciation and capital accounting related topics to the Society of Depreciation Professionals (SDP), Canadian Electric Association, Canadian Gas Association, Canadian Property Taxpayers Association, Alberta Utilities Commission, British Columbia Utilities Commission, and Canadian Energy Pipeline Association. Mr. Kennedy is a past SDP President.
Job Titles:
- Member of the Board
- Senior Vice President
- Financial and Regulatory Consultant
Ms. Quilici is a financial and regulatory consultant with nearly three decades of experience advising energy clients throughout North America on a wide range of strategic, financial, transactional, and regulatory matters. Ms. Quilici has advised clients on mergers and acquisitions involving electric, natural gas, thermal, and water utilities in more than 20 states and managed or advised the sale of nuclear, fossil, and hydroelectric generation transactions with an aggregate valuation in excess of $20 billion.
Ms. Quilici has extensive experience supporting her clients' Boards and senior management on regulatory analysis, policy formation, and resource planning and has run or monitored numerous competitive solicitations. She has provided expert testimony on transaction and regulatory matters on more than a dozen occasions before state regulatory agencies and courts.
After graduation from Purdue University, Ms. Quilici worked in human resources before earning her MBA from Northeastern University. She then joined the Massachusetts Department of Public Utilities where she worked as an economist, lead negotiator in integrated resource management, and assistant director of the rates and revenue requirements division. Ms. Quilici joined REED Consulting group in 1994, becoming one of the youngest officers named in that organization. REED was acquired by Navigant Consulting in 1997, where she served as an executive until leaving Navigant to form Concentric. Ms. Quilici is a member of Concentric's Board of Directors and acts as its corporate secretary.
Education
M.B.A., Northeastern University
Certificate Program in Employee Relations, Rutgers University
B.A., Purdue University
Ms. Ihara has 15 years of experience in the energy industry bringing technical expertise in econometric analysis, financial modeling, and database management. She has assisted clients with rate design, integrated resource planning, utility prudency reviews, contractual disputes, acquisition/divestiture due diligence, market power studies, and energy market assessments. She has designed unit commitment and gas storage optimization models and has performed valuations of various electric generation projects, natural gas pipeline and storage facilities, fuel supply contracts, and power purchase agreements.
Ms. Ihara's demand forecasting and supply planning experience includes an engagement in which she developed natural gas demand forecasts and assisted in the development of long-term Integrated Resource Plans on behalf of several utilities located in the Northeast, Midwest, and Pacific Northwest. She has also reviewed demand forecasting methodology for both a multi-state gas utility and a Canadian electric utility. For the gas utility, she recommended certain process changes to improve methodology and forecast accuracy, and for the electric utility she analyzed and evaluated the statistical and quantitative projection methods used, including end-use and econometric forecasting techniques.
Ms. Ihara served as an Intern Engineer and Application Developer at General Electric Power Systems Energy Consulting before joining Concentric. She is proficient in VBA, MATLAB, SQL, and SPSS.
Education
B.S., magna cum laude, Applied Mathematics, Brown University
Mr. Cattrell advises clients on emerging trends in the energy industry including utility business model innovation, regulatory model reforms, new operating models, and technology investment strategies. He has led projects that address strategies for utility modernization, market design and integration, regulatory framework evolution, and performance measurement. In addition, Mr. Cattrell has managed client-initiated studies on a wide range of energy-related matters.
Prior to joining Concentric, Mr. Cattrell worked with various government agencies to implement information security best practices as a consultant with Janus Associates. He also worked on numerous technology projects in Harvard University's School of Engineering and Applied Sciences. He received a B.A. in Computer Science from Colby College and a Master of Public Policy degree from Georgetown University. Mr. Cattrell is a member of The Energy Bar Association, the National Association of Business Economics, and the International Association of Energy Economics.
Education
M.P.P., Georgetown University
B.A., Colby College
Job Titles:
- Vice President
- Financial and Economic Consultant
Ms. Bartos is a financial and economic consultant with more than twenty years of experience in the energy industry. In the last several years, she has focused on natural gas markets issues, including conducting comprehensive market assessments for various clients considering infrastructure investments and developing detailed demand forecasts for a number of gas distribution companies. Specifically, Ms. Bartos reviewed and evaluated long-term natural gas supply and demand, existing natural gas pricing dynamics, and the future implications of new natural gas infrastructure in New England, New York, and New Jersey. Ms. Bartos also engaged with a client to provide an analysis of the existing Gulf Coast natural gas market, the client's natural gas pipeline competitors, changing flows, and how those factors may affect transportation values to the client moving forward.
Ms. Bartos has designed, built, and enhanced numerous financial and statistical models to support clients in asset-based transactions, energy contract negotiations, reliability studies, asset and business valuations, rate and regulatory matters, cost-of-service analysis, and risk management. Her modeling experience includes building Monte-Carlo simulation models, designing an allocated cost-of-service model, statistical modeling using SPSS, and programming using Visual Basic for Applications. Ms. Bartos has also provided expert testimony on multiple occasions regarding natural gas demand forecasting and supply planning issues, natural gas markets, and marginal cost studies.
Education
M.S., Mathematics (Statistics), University of Massachusetts
B.A., magna cum laude, Mathematics and Psychology, Computer Science minor, College of the Holy Cross
Job Titles:
- Project Manager
- Senior Project Manager
Meredith C. Stone, Project Manager, has experience providing analytical and research support on various wholesale market, regulatory and arbitration projects that often involve expert witness testimony. Ms. Stone has extensive experience in the North American power markets, with a focus in wholesale market design, analysis, and operations. Ms. Stone has provided analysis on the net Cost of New Entry in the ISO New England wholesale capacity markets, as well as the recalculation of Offer Review Trigger Prices. Ms. Stone also has experience in multiple elements of the regulatory ratemaking process, including incentive regulation, targeted infrastructure replacement plans, cash working capital/lead-lag studies, revenue requirement modeling, earnings sharing and marginal cost studies. She holds a Master of Public Policy from Brown University and a B.A. in Political Science from Middlebury College.
Education
M.P.P., Brown University
B.A., Political Science, Middlebury College
Job Titles:
- Member of the Board
- Senior Vice President
Mr. Adams is a Senior Vice President with over thirty-five years of direct experience in the public utility industry. He has worked for an investor-owned utility, a regulatory agency, and most recently as a consultant to the utility industry. He provides expert support and testimony on issues related to regulatory policy and precedents, revenue requirement, cash working capital, performance benchmarking, and affiliate transactions/shared services costs.
In addition to his expert testimony, Mr. Adams also provides support to his clients with litigation/regulatory investigations and audits. He is also frequently called upon by clients to provide regulatory research services in preparation for, or in support of, their ongoing or upcoming regulatory initiatives.
In a recent engagement, Mr. Adams provided analysis of a client's A&G expenses to determine the appropriate level of said costs to be capitalized in future rate proceedings. The objective of the study was to calculate the percent of administrative expenses that were related to construction costs. He also assisted a large combination utility in developing a response to a regulator-initiated complaint pertaining to the client's existing rates and alternative regulation mechanism.
Before joining Concentric, Mr. Adams was a Managing Director of Navigant Consulting, Inc. Mr. Adams is a Certified Public Accountant, a graduate of Illinois College, and holds an M.B.A. from the University of Illinois, Springfield. He also serves on Concentric's Board of Directors.
Education
M.B.A., Finance, University of Illinois
B.S., Accounting, Illinois College
Certified Public Accountant
Job Titles:
- Member of the Board
- Senior Vice President
Mr. Kagan has more than 26 years of experience in energy sector management roles and consulting to utilities, independent power producers, large energy users, and retail energy suppliers. His recent consulting work has included business strategy, litigation support, expert testimony, business valuation and investment due diligence.
Mr. Kagan's 14-plus years of management experience includes leadership in a variety of positions. Notably, Mr. Kagan served as the Commercial Leader at Constellation NewEnergy, the largest U.S. competitive retail energy supplier, providing retail electricity, natural gas, energy efficiency, and solar generation. During his tenure at Constellation NewEnergy, Mr. Kagan was responsible for $8.5B in annual revenues from power, gas, energy efficiency, load response, and on-site solar projects, as well as various corporate functions including energy supply, product development, structuring, and sales.
Prior to Constellation NewEnergy, Mr. Kagan held positions at the consulting firm of Barakat & Chamberlin and at the Environmental Defense Fund. Mr. Kagan has also taught graduate-level coursework at the George Washington School of Business. Mr. Kagan earned an M.A. in economics from the University of California, Santa Barbara where he completed his Ph.D. course work requirements with concentrations in industrial organization and environmental economics. He earned an undergraduate degree in economics and business from Skidmore College.
Education
M.A. Economics, University of California
B.A. Economic and Business, Skidmore College
Michael T. Buckley joined Concentric Energy Advisors in May 2022. Mr. Buckley has extensive experience in the North American energy industry as a Project Manager. He is well versed in environmental, social, governance (ESG) and sustainability issues, greenhouse gas reporting, data analysis, financial modeling, and providing analytical and research support on various industry issues. Mr. Buckley is a strategic leader with a forward-thinking approach, and he is passionate about the energy future. Prior to joining Concentric, Mr. Buckley was the Director of Financial Analysis at the Edison Electric Institute (EEI), where he led EEI's sustainability program for the electric utility industry, helping utilities provide investors with more uniformity and better consistency in reporting ESG/sustainability data and information. At EEI, he was also responsible for managing the aggregate financial data of all investor-owned electric utilities in the United States. Prior to EEI, Mr. Buckley worked as an Economic Analyst for Exeter Associates, an independent consulting firm specializing in regulatory economics. Mr. Buckley earned a B.S. in Agricultural Economics from Colorado State University in 2010.
Education
B.S., Agricultural Economics, Colorado State University
Job Titles:
- Advisor
- Member of the Board
- Senior Vice President
Mr. Yardley has been an advisor to private and public organizations in the energy industry on regulatory, public policy, and strategic issues for 35 years. During that time, he served as the Chairman of the Massachusetts Department of Public Utilities for two years and has been active in public policy matters as a speaker, facilitator, and expert witness. As the DPU Chairman, Mr. Yardley regulated the electricity, natural gas, water, telecommunications, and transportation industries in Massachusetts.
Trained as an economist with strong analytical skills, Mr. Yardley has an in-depth understanding of the competitive challenges facing regulated and unregulated energy firms as well as the policy challenges facing government agencies responsible for overseeing the restructuring of the energy industry, including the "Utility of the Future" concepts. Mr. Yardley has testified before state and federal regulatory agencies on policy initiatives, earnings attrition, incentive regulation, integrated resource planning, distribution system planning, interstate pipeline ratemaking, and emergency response plans and performance. Additionally, he has designed and led large industry collaboratives on retail customer choice and distributed generation, and facilitated client stakeholder meetings.
Mr. Yardley holds a B.A. in Economics from Georgetown University and completed all of the course work for a doctorate in Economics from Boston College but did not complete a dissertation. He also serves on Concentric's Board of Directors.
Education
A.B.D., Economics, Boston College
B.A., Economics, Georgetown University
Mr. Moreno has more than 20 years of experience helping large consumers or producers of energy optimize expenditures, revenues, and investments. He is a specialist in risk management, quantitative methods, and statistical analysis. He has advised on the exposures of a US$10 billion portfolio and also has broad experience in management consulting and teaching. His experience includes a broad range of fuels (oil, natural gas, coal, wind, solar and hydro), differing generating technologies, and extensive transactional experience supporting clients design and implement energy procurement practices to identify how much to purchase, when and why.
Mr. Moreno's risk management experience includes: designing, valuing, supervising, and implementing market transactions for more than 40GW of generation/load and the associated fuels; creating a risk-based analytical framework to evaluate the value of a power plant and negotiating the value, avoiding a 40% increase in the cost of operating the plant; and auditing the risk management function of a wholesale energy trader on behalf of its regulated owner, which involved the evaluation of VaR calculation and portfolio aggregation.
Mr. Moreno holds an M.S. in Economics from the University of Texas and an M.B.A. and B.A. from the Monterrey Institute of Technology and Higher Education (ITESM) in Mexico. He also completed the Leadership Acceleration Program at the University of Notre Dame. He is fluent in English and Spanish, speaks conversational German, and holds a Top Secret Security Clearance.
Education
Leadership Acceleration Program, University of Notre Dame
M.S., Economics, University of Texas
Job Titles:
- Consultant
- Project Manager
Ms. Crimmins is a consultant with expertise in demand forecasting and cost of service studies. Her professional experience began at Concentric, where she started as an Analyst and has risen through the ranks to her current position as a Project Manager.
Ms. Crimmins' experience includes assisting multiple northeast gas utilities with the development of demand forecasts for regulatory filings and supporting natural gas market studies. Specifically, her demand forecast engagements have included developing forecast and supply plans for utilities in Massachusetts. This included building databases, reviewing data, developing regression models and natural gas demand forecasts using SPSS, preparing written reports, and responding to data requests.
Ms. Crimmins has experience providing analytical and research support on various studies related to natural gas demand and prices, pipeline flows, delivered pipeline costs, and electric demand and prices to support infrastructure decisions. She has provided research support regarding shale production and liquefaction costs, performance-based rates, service quality mechanisms, alternative regulatory mechanisms, affiliate transactions, electric reliability, and capital expenditures for U.S. and Canadian utilities. Finally, she has provided analytical support for various rate and regulatory matters, including developing revenue requirement models, marginal cost studies, financial modeling, and cost benchmarking analyses.
Ms. Crimmins graduated magna cum laude from College of the Holy Cross with a degree in Mathematics and is a member of both Phi Beta Kappa and Pi Mu Epsilon, a nationally recognized mathematics honor society.
Education
B.S., magna cum laude, Mathematics, College of the Holy Cross
Job Titles:
- Executive Advisor
- Member at Boston University
Todd A. Shipman, CFA, Executive Advisor, has over 30 years of experience in utility regulation, utility credit analysis, consulting, and capital market strategies. He is an expert witness and specializes in credit rating advisory and hybrid securities. Mr. Shipman's breadth of experience, which extends from financial analysis to regulatory intervention to capital markets, allows him to effectively advise on many areas within the energy industry.
Mr. Shipman is an adjunct faculty member at Boston University, where he teaches advanced undergraduate finance courses that cover capital markets, economic policy, and corporate finance.
Education
J.D, Texas Tech University School of Law
B.B.A, Texas Christian University
Job Titles:
- General Firm and Media Inquiries