ABOUT THE PROGRAM

Program description. The IPU Advanced Regulatory Studies Program is a series of specialized half-day and all-day workshops designed to provide public and private-sector regulatory professionals with a unique opportunity to interact and exchange ideas on advanced technical, methodological, and policy issues. Each workshop provides an intensive and immersive experience, emphasizing discipline-based and sector-specific learning opportunities; interactive instruction and peer-to-peer dialog; advanced analytical methodologies; and theoretical rigor coupled with practical hands-on problems and exercises. The program faculty includes nationally known experts who draw from both academic and applied perspectives. The Advanced Program reflects our commitment to providing a reasoned and empirical approach to contemporary regulatory issues. The program offers flexible tracks focusing on regulation and ratemaking, accounting and finance, and engineering and economics. Half-day sessions allow participants to fully customize the program to their interests. IPU also offers unique orientation workshops, “Regulatory Fundamentals for Utility Personnel and Analysts” and “Fundamentals of the Power Grid,” on the Sunday preceding the program.

Who should attend. The program is open to everyone and is designed for experienced professionals in the regulatory policy community, including federal and state personnel, consumer advocates, and private-sector professionals. Generalists and specialists in the utility sectors will benefit from attending. Past attendees of IPU programs – including the Annual Regulatory Studies Program (“Camp”) and the NARUC Utility Rate School – will find that the workshops offer a unique professionaldevelopment experience. IPU will also arrange continuing education credits for accountants and attorneys as requested. The Advanced Program provides not only a great learning environment, but also a great forum for exchanging ideas and networking with professional peers.

Where. The IPU Advanced Program will be held at the Kellogg Center on the campus of Michigan State University in East Lansing, Michigan.

The regular program takes place Monday through Friday noon, with special orientation sessions on Sunday. Contact the Kellogg Center for information at 517.432.4000, or www.kelloggcenter.com. The dress code for the program is campus casual. Registration. IPU offers flexible registration options .

The Sunday preceding the program features short courses on Fundamentals of Regulation and Fundamentals of the Power Grid.

TOPICS COVERED

Regulation & Ratemaking Fundamentals of regulation Fundamentals of ratemaking Cost allocation and rate design Capital structures and capital markets Rate of return and performance based regulation Utility incentives and revenue decoupling Advanced metering & dynamic pricing Advanced issues in cost allocation

Accounting & Finance Financial reporting and statement analysis Survey of accounting policy/li> Prudence reviews in regulation Advanced regulatory accounting issues Regulatory treatment of income taxes Economics of cost-adjustment Advanced ratecase auditing Regulation, uncertainity, and risk Utility credit and equity markets

Engineering & Economics Fundamentals of the power grid Econometric forecasting methods Applied forecasting for resource planning RTO energy and capacity markets Smart grid interconnection and reliability Electricity market structure and performance Intregating variable resources on the grid Electricity and gas interdependcy Interdependency and assurance planning Smart grid and smart metter evaluation

CLE/CPE CREDIT

The Institute of Public Utilities 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 37210-2417. Website: www.nasba.org. CLE credits are also available. IPU-MSU will apply for accreditation or registration of the program. Application does not guarantee approval.

TESTIMONIALS

What past Advanced attendees say about the program:

• "I think my understanding of regulation was upgraded..."
• "This is a very effective (time-wise and cost-wise) venue for participants to access a wide range of topics."
• “Very interesting and relevant topics. The interaction between participants from other states and countries was very useful.”
• “Excellent information – excellent presenters.”
• "Very useful workshop..."
• “Great follow-up to Rate School!”
• “As always… IPU is awesome!”
• "You put on a great program... I enjoyed it quite a bit. In some respects I left with more questions than I had when I came into the program; I think that's a good sign... Again, great job with the program. Really enjoyed the instructors and their presentations, as well as the discussion among classmates."