Events

How to Read and Analyze a Rate Case - Spring 2027

NARUC Professional Development
Track: Accounting & Rate Design

April 6, 7, 8, 2027 2-4 PM Eastern, Live online

Overview

How to Read and Analyze a Rate Case provides an introduction to utility rate cases. This course reviews the basic parts of a rate case and explains how rate cases are developed. The course uses examples from the utility industry and the instructor’s work in reviewing rate cases and testifying in rate case proceedings to illustrate key concepts and explain the way costs and rates are calculated and rate cases are developed. Students will learn the structure of rate cases, the meaning and use of test years, and how to analyze cost allocations. How to Read and Analyze a Rate Case delivers practical knowledge for new rate makers and rate case reviewers and is a valuable refresher for those with rate case experience.

This is a recommended precursor to NARUC Rate School. 

Fees:

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

Registration will open November 19.

 

If you are interested in the NARUC Spring 2027 Rate School PLUS discounted access to the Essentials of Utility Accounting & Ratemaking (March 16, 17, 18, 2027, 2-4 pm Eastern) and How to Read and Analyze a Rate Case (April 6, 7, 8, 2027, 2-4 pm Eastern), registration for the bundle option should be done via the NARUC Rate School Registration. Please sign up for the Advance Notice List for early information. Please note that availability for Rate School is limited.

NARUC is not able to issue refunds or convert to the bundle option if an attendee purchases this online course separately and not through the Rate School bundle.

Learning Objectives:

At the end of this course, students will understand:

  • The definition of a general rate case
  • The reason utilities prepare rate cases and the process commissions use to review rate cases and set rates
  • The key parts of a rate case and how to review them
  • How to evaluate the inputs to rate cases
  • How to review and analyze the three major rate case exhibits: capital structure, rate base, and income statement

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.