How to Read and Analyze a Rate Case - 2026

NARUC Professional Development
Track: Accounting & Rate Design

Sept. 15, 16, 17, 2026, 2-4 PM Eastern

This course provides an introduction to utility rate cases. It reviews the basic parts of a rate case and explains how these cases are developed. It is a recommended precursor to NARUC Rate School.

Course Outline: 

Day 1:  How Are a Public Utility’s Earnings Determined?

• What Is a General Rate Case and What Are Its Key Components?
• What Part Does the Revenue Requirement Process Play In a General Rate Case?
• What are the Key Documents Which Should be Examined?

Day 2: How to Read and Analize the Rate Case Components of a Revenue Requirement Filing?

• What is a Test Year and How to Analyze its Components?
  • What Are Commission Adjustments to a Test Year?
  • What Are Accounting Adjustments to a Test Year?
  • What Are Pro Forma Adjustments to a Test Year?
• What are Cost Allocations and How to Analyze Them?

Day 3: What Are the Three Major Financial Exhibits and What Questions Should be Asked?

• Income Statement
• Rate Base
• Capital Structure

Instructor: Bill Steele, Bill Steele & Associates. Bill has over 40 years of experience in public utility regulation, with specific expertise in revenue requirements, cost allocation, class cost-of-service studies, rate design, alternative forms of regulation, and mergers and acquisitions. Mr. Steele spent over 30 years at the Colorado Public Utilities Commission (CPUC), where he was an advisor to the Commissioners, an expert witness, and the supervisor of financial analysts.

 

Fees:
NARUC State, Associate, and Federal Members: $265
Other State, Federal Government, and International Agencies / NASUCA Members / Academia: $465
All Others: $665

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