MSU IPU: Annual Regulatory Studies Program: The Fundamentals Course
CONTENT SCOPE
- Different types of regulation and the regulation of energy utilities
- Regulatory independence
- Role of governments in setting policy and legislative framework for regulators
- Regulator role, due process, and binding decisions
- Basics of cost of service economic regulation
- Basic legal ground rules, i.e., “administrative law”, statutory authority Natural justice & procedural fairness
- Quasi-judicial hearing process: notice, right to a coherent & understandable procedure
- Legal principles governing regulatory tribunals including the rule against bias
- Appeals and judicial review
- Specific cases that regulators should be aware of: Baker, Consolidated Bathurst
- Overview of the “four sets of books” used by regulated entities
- Standard financial statements and accounting principles
- Role of a regulator re: financial statements of regulated companies
- How and why transactions are treated differently for regulated entities.
- Deferral and variance
- How to read financial statements
- IFRS/US GAAP
- Establishing the Revenue Requirement
- Forecasting exercise to determine the utility’s costs to provide service (i.e., ‘cost of service’)
- Review and approval process by the regulator so a utility can charge its customers.
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