Ann E. Bulkley


Financial Advisory:
Appraisals, Valuations

Cost of capital and return on equity, Stranded cost recovery

Ann E. Bulkley

Senior Vice President

  Email Me

Summary of Experience

Ms. Bulkley has more than two decades of management and economic consulting experience in the energy industry, with extensive state and federal regulatory experience on both electric and natural gas issues including rate of return, cost of equity, and capital structure issues. She has provided expert testimony on the cost of capital in more than 30 proceedings before regulatory commissions in over 15 U.S. States and the Federal Energy Regulatory Commission, and prepared and provided supporting analysis for over forty Federal and State regulatory proceedings.

Ms. Bulkley has worked on acquisition teams with investors seeking to acquire utility assets, providing valuation services including an understanding of regulation, market expected returns, and the assessment of utility risk factors. She has assisted clients with valuations of public utility and industrial properties for ratemaking, purchase and sale considerations, ad valorem tax assessments, and accounting and financial purposes. Additionally, Ms. Bulkley has experience in the areas of contract and business unit valuation, strategic alliances, market restructuring, and regulatory and litigation support.

Prior to joining Concentric, Ms. Bulkley held senior expertise-based consulting positions at several firms, including Reed Consulting Group and Navigant Consulting, Inc. where she specialized in valuation. Ms. Bulkley holds an M.A. in economics from Boston University and a B.A. in economics and finance from Simmons College, and is a Certified General Appraiser licensed in the Commonwealth of Massachusetts and the State of New Hampshire.


M.A., Economics, Boston University

B.A., Economics and Finance, Simmons College

Certified General Appraiser licensed in the Commonwealth of Massachusetts and the State of Michigan

Testified Before

Arizona Corporation Commission; Arkansas Public Service Commission; Colorado Public Utilities Commission; Connecticut Public Utilities Regulatory Authority; Federal Energy Regulatory Commission; Indiana Utility Regulatory Commission; Kansas Corporation Commission; Maine Public Utilities Commission; Maryland Public Service Commission; Massachusetts Appellate Tax Board; Massachusetts Department of Public Utilities; Michigan Public Service Commission; Michigan Tax Tribunal; Minnesota Public Utilities Commission; Missouri Public Service Commission; Montana Public Service Commission; New Hampshire – Merrimack County Superior Court; New Hampshire – Rockingham Superior Court; New Mexico Public Regulation Commission; New York State Department of Public Service; North Dakota Public Service Commission; Oklahoma Corporation Commission; Public Service Commission of West Virginia; Public Utility Commission of Pennsylvania; Public Utility Commission of Texas; South Dakota Public Utilities Commission; Virginia State Corporation Commission


Electric Utility Privatization: An Analysis of Why Municipalization Efforts Fail   PDF

Newsletter Sign Up