Summary of Experience
Michael J. Adams, Senior Vice President, provides financial, regulatory, strategic, operational and litigation support to his energy clients. Mr. Adams provides a wide array of case management services to his energy clients in preparation for, and support of regulatory filings. He also provides advisory services in the areas of mergers and acquisitions. Mr. Adams has over thirty years of direct experience in the public utility industry. He has worked for an investor-owned utility, a regulatory agency, and most recently as a consultant to the utility industry. As a consultant, Mr. Adams has provided expert testimony or reports before State and Federal regulatory agencies. His testimonies typically address issues related to shared services, cost of service/revenue requirement, including cash working capital, and accounting and/or cost allocations. Prior to joining Concentric, Mr. Adams was a Managing Director of Navigant Consulting, Inc. Mr. Adams is a Certified Public Accountant, a graduate of the Illinois College and holds an M.B.A. from the University of Illinois, Springfield.
M.B.A., Finance, University of Illinois, Springfield
B.S., Accounting, Illinois College
Certified Public Accountant
Arkansas Public Service Commission; the City of El Paso, Texas; the Connecticut Public Utilities Regulatory Authority, the Federal Energy Regulatory Commission (FERC); the Hawaii Public Utility Commission; the Illinois Commerce Commission; the Maryland Public Service Commission; the Massachusetts Department of Telecommunications and Energy; the Missouri Public Service Commission; the New Hampshire Public Utilities Commission; the Oklahoma Corporation Commission; the Ontario Energy Board; the Pennsylvania Public Utility Commission; the Public Utilities Commission of Texas; and the State Corporation Commission of Virginia.
On behalf of a public utilities commission, we reviewed the reasonableness of a member-owned, not-for-profit, generation and transmission cooperative’s Mitigation Plan. In particular, we reviewed the ability of its coal-generating fleet to be competitive and to make sales of capacity and energy in the wholesale markets, evaluating wholesale power contracts, reviewing the steps taken to idle or […]
We filed testimony in support of a merger of two energy companies before three state regulatory commissions. Our work addressed the respective jurisdictional requirements for a regulated utility merger in each jurisdiction, summarized a comprehensive review of potential synergy savings, and discussed the areas for potential integration savings following the successful completion of the proposed merger.
We provided assistance with the determination of the net savings associated with the acquisition of a natural gas utility. This synergy savings report was filed with the client’s regulatory commission in response to the commission’s findings, in which our utility client was required to make a showing to the commission of its determination of net […]
We provided pre-audit and audit support services to a multi-jurisdictional combination utility. We worked closely with the client’s executive management team to prepare the client for the commission-ordered management audit and to develop a consistent, constructive approach to addressing key findings and recommendations by the audit firm. Our pre-audit process covered areas of corporate governance, […]
We have provided rate case assistance to an electric and natural gas utility for many years. Our work has included: Minimum filing requirements Revenue requirement Benchmarking Return on equity Capital structure Lead/lag studies Policy testimony Shared service and cost allocation reviews Asset separation studies Our roles in these cases have been broad and included: Regulatory policy […]