Summary of Experience
Mr. Dane has over 15 years of experience in the energy and financial services industries providing advisory services to power companies, natural gas pipelines, and local gas distribution companies in the areas of regulation and ratemaking, litigation support, generating asset divestitures, valuation, financial statement audits and analysis, and the examination of financial reporting systems and controls. He has also provided expert testimony on regulated ratemaking matters for investor- and provincially-owned utilities, including revenue requirements, the cost of capital, capital structure, lead-lag studies/cash working capital, and rate base development.
Mr. Dane is a certified public accountant and is a licensed securities professional (NASD Series 7, 28, 63, 79, and 99). In addition to his consulting work, he serves as the Financial and Operations Principal of CE Capital Advisors, a FINRA-Member firm and a subsidiary of Concentric Energy Advisors. CE Capital is a securities firm that provides services relating to corporate mergers and acquisitions, the valuation of securities, and capital market support. In his role at CE Capital, Mr. Dane has developed fairness opinions to Boards of Directors of companies entering into asset purchases and sales. He has led valuation modeling on multiple energy-related valuation assignments using the Income Approach, Cost Approach, and Sales Comparison Approach.
M.B.A., Boston College
B.A., Economics, Colgate University
Licensed Securities Professional: NASD Series 7, 28, 63, 79 and 99 Licenses
Connecticut Public Utilities Regulatory Authority; Illinois Commerce Commission; Massachusetts Department of Public Utilities; New Hampshire Public Utilities Commission; Ontario Energy Board; Public Utilities Commission of Texas; South Dakota Public Service Commission; Vermont Public Utility Commission
We supported a diversified conglomerate in the company’s acquisition of a natural gas gathering and marketing company. Our team provided financial due diligence through review of the company’s financial statements, with special focus on payables and receivables. We created a valuation of the company’s assets, including intangibles, for purposes of calculating goodwill and creating an […]
Representative examples of our staff’s transaction management experience include:
Engaged Concentric to prepare an assessment of the financial aspects of the proposed transfer of the Vermont Yankee nuclear station from a subsidiary of Entergy Corporation to NorthStar Decommissioning Company, LLC, including the financial assurances proposed by NorthStar if the transfer were approved, and the financial capabilities of NorthStar to complete the decommissioning, site restoration, […]
We conducted an analysis on the highest and best use of a local distribution company’s (“LDC”) assets. Specifically, we: Analyzed the value of potential supplemental service offerings and alternative uses of the LDC’s infrastructure in an effort to optimize the utility of these assets while maintaining reliable service to existing customers. Assessed the potential for broader […]
We provided financial advisory services pertaining to the acquisition of a major energy infrastructure company, including natural gas distribution and pipelines. This effort included detailed due diligence to develop twenty-year financial projections for all regulated operating subsidiaries of the client’s identified target, including key revenue drivers impacting the valuation. Specifically, we provided the following support: reviewed […]
We managed all of our client’s overall transmission-related U.S. Department of Energy (“DOE”) loan guarantee effort. Working with the client’s internal team and its other outside advisors, our team was responsible for insuring that the client was well-positioned to have its application favorably received by the DOE, all required documentation for the application was completed and filed […]
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 rendered an opinion on the reasonableness of valuations of transmission assets held by the client. CE Capital Advisors, Inc., Concentric’s wholly-owned subsidiary, also rendered its opinion to the client on the fairness, from a financial point of view, of the financial consideration paid in connection with that transaction.
We provided an expert report, rebuttal report, and trial testimony related to uncertainty in valuation and market forces faced by a gas-fired combined heat and power generation facility located outside of Rotterdam, The Netherlands. Our work was filed as part of litigation related to the IRS’ disallowance for tax purposes of a leveraged lease transaction.
We were retained to review and opine as to the prudence of the client’s development of an overall commercial strategy for a refurbishment project at the client’s nuclear facility, as well as the specific commercial strategies being pursued for multiple major work packages. We reviewed and considered the client’s ability to manage the project under […]
We provide assistance related to the client’s efforts to develop an option to construct and operate two new reactors at the company’s nuclear facility. We conduct assessments of the project controls and project management practices used to plan and implement four extended power uprate projects. We review the processes used by the client to consider […]
We assisted the client with a review of the project management processes used to manage an extended power uprate-life cycle management project at the client’s nuclear generating facilities. This work included reviewing the extended power uprate (“EPU”)/life cycle management (“LCM”) project and the prudence of management’s decisions and actions over the course of the EPU/LCM […]
We participated in a workshop session to identify and discuss the client’s key objectives for a major capital replacement program and ongoing operations of a nuclear generation facility. We shared lessons learned and operational experience from other mega projects with a focus on nuclear uprate, refurbishment, life cycle extension, and major component replacement projects. Our […]