Recorded on: Thursday, May 27, 2010

1:30 - 3:00 p.m, ET

Agenda  | Panelists | Who should attend | Accreditation | Register

Overview

Recent announcements by Exelon, Progress Energy, Xcel Energy and others are accelerating the power industry's transition to more gas generation. Throughout the industry, companies are taking a hard look at whether they should retire their older, less efficient coal plants in favor of generating more with gas by utilizing existing combined-cycle plants more and/or building new plants.

A key impediment to transitioning to more gas is the volatility of gas prices and the regulatory risks and consequences of volatility. Even with the shale gas revolution, concern remains that electric utility customers and regulators won't tolerate gas price volatility. Few recall that coal was once a volatile price commodity in the 1970's, driven by mining union work stoppages. Then, tailored long-term contracting approaches developed and became broadly accepted. Will the long-term contracting of gas become commonplace too?

We will address the practical real-world challenges of considering a greater dependence on gas in your company's power plant fleet and of gas price volatility. In addition, we'll examine the new procurement approaches industry leaders are developing to "contract the volatility out." Our panel of executive experts will discuss their experiences - considering both sides of the transition process.

Agenda

Learning Objectives

Panelists

Ron Binz

Chairman, Colorado Public Utilities Commission

Ron Binz was appointed as Chairman of the Colorado Public Utilities Commission by Governor Bill Ritter on January 23, 2007. Prior to his appointment, Ron was President of Public Policy Consulting, specializing in policy and regulatory issues in the telecommunications and energy industries. His clients include consumer groups, state agencies, telecommunications carriers and business associations.

Ron also served until 2003 as President of the Competition Policy Institute (CPI), based in Washington, D.C. CPI was a non-profit organization dedicated to bringing competition to telecommunications and energy markets in ways that benefit consumers. Ron describes CPI as "a combination consumer organization and think tank." He is also a frequent speaker and expert witness on competition and consumer issues.

For eleven years, until 1995, Ron directed the Colorado Office of Consumer Counsel, the state's utility consumer advocate. His office represented residential, small business and agricultural utility consumers before the Colorado Public Utilities Commission, federal regulatory agencies and the courts.

Ron was previously President of the National Association of State Utility Consumer Advocates (NASUCA) and chaired the group's Telecommunications Committee. On behalf of NASUCA and CPI he has testified before Congressional committees fifteen times.

Ron served as the Co-Chair of the North American Numbering Council which advises the Federal Communications Commission on telephone numbering policies. Ron is a member of the Harvard Electricity Policy Group and also served on the Network Reliability Council to the FCC. He is a director of several non-profit organizations.

Mark Mulhern

Senior Vice President and Chief Financial Officer, Progress Energy, Inc.

As Chief Financial Officer of Progress Energy. Mulhern oversees the Financial Services group. Mulhern joined Progress Energy (formerly Carolina Power & Light) in 1996 as vice president and controller. He served as vice president and treasurer from 1997 through 2000, when he assumed the role of vice president – strategic planning at the close of the merger with Florida Progress in 2000. He served as senior vice president of competitive commercial operations in Progress Ventures from 2003 to 2005. He served as the President of Progress Ventures from 2005-2008, the unregulated subsidiary of Progress Energy that divested substantially all of its $4 billion of assets between 2006-2007. Mulhern served as Senior Vice President of Finance from 2007-2008.
 
Before joining the company, Mulhern was the chief financial officer at Hydra Co Enterprises, the independent power subsidiary of Niagara Mohawk. He also spent eight years at Price Waterhouse. 

James A. Tramuto

Vice President, Governmental and Regulatory Strategies, Southwestern Energy

James A. Tramuto joined Southwestern Energy Company in 2009 and has more than 35 years of experience in energy and governmental relations. Previously he served as Vice President of Federal Governmental Relations for PG&E Corporation in Washington, D.C., and as Vice President of External Affairs for PG&E’s National Energy Group. 

 Prior to joining PG&E, Tramuto was President of TECO Gas Marketing and President and CEO of Polaris Pipeline. He also held a number of executive, legal and governmental affairs positions at United Gas Pipeline Company. Tramuto has extensive experience served on a number of energy committees in Washington, Texas and Arizona, including several appointments by former Texas Governor George W. Bush and Texas Governor Rick Perry. Tramuto is also a member of Texas A&M University Business School Finance Advisory Board, a board member of The Energy Council, the IOGCC and a past president and current member of the Texas Utility Lawyers. 

Steven A. Mitnick (moderator)

Partner, Energy/Utilities Practice, Oliver Wyman (a Marsh & McLennan company)

Steve Mitnick specializes in power generation, transmission, environmental and energy efficiency strategies of North America electric power and natural gas companies. His work in consulting, project development and government has included mergers and acquisitions, renewable generation development, climate change policy, corporate leadership, federal and state utility regulation and facility siting, grid resource planning and operations, and power, fuel and emission allowance price behavior. Mitnick served as the chief energy advisor to the Governor of New York State, and prior to that as senior advisor to the North America electric power and natural gas practice of McKinsey and Company. Earlier, he was chief executive of a transmission development company, co-head of a large energy consulting practice, and member of the faculty of Georgetown University where he taught economics and statistics. Mitnick holds two B.S. degrees from Rensselaer Polytechnic Institute and an M.B.A. from the Wharton School of Business, University of Pennsylvania.

Who will benefit

Accreditation

CFA Institute

1.5 Hours of Professional Development Credit

SNL Center for Financial Education is registered with CFA Institute as an Approved Provider of professional development programs. This program is eligible for 1.5 PD credits hours as granted by CFA Institute. If you are a CFA Institute member, PD credit for your attendance at this event will be automatically recorded in your PD Diary upon request.

National Association of State Boards of Accountancy

Participants qualify for 1.5 hours of CPE credit. Program Level: Beginnner. Delivery Method: Group-Online. SNL Center for Financial Education is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.

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