Larry E. Kennedy


Utility Regulation:
Depreciation Studies

Larry E. Kennedy

Senior Vice President

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Summary of Experience

Larry Kennedy has been in the pipeline, electric and gas utility, and municipal infrastructure business for nearly forty years. As Senior Vice President of Concentric Advisors ULC, Concentric’s Canadian subsidiary, Larry is responsible for depreciation and valuation studies for gas and electric utilities including generation facilities, high voltage transmission lines, large diameter transmission pipelines, railway systems, and municipally owned utility systems.

Previously, Mr. Kennedy was with Gannett Fleming Canada ULC where he was responsible for completing depreciation studies and provided advice related to regulated capital accounting, large capital program spending and controls, and implementation of the International Financial Reporting Standards (IFRS) for many regulated utilities. Mr. Kennedy was also employed by Interprovincial Pipelines Limited (now Enbridge Pipelines) and Nova Gas Transmission Pipelines (now TransCanada Pipelines) as a Depreciation Specialist. In these roles, Mr. Kennedy led cost control and accounting teams to ensure that accurate financial information and financial controls were captured and that contractual commitments were followed.

Mr. Kennedy has presented depreciation and capital accounting related topics to the Society of Depreciation Professionals (SDP), Canadian Electric Association, Canadian Gas Association, Canadian Property Taxpayers Association, Alberta Utilities Commission, British Columbia Utilities Commission, and Canadian Energy Pipeline Association. Mr. Kennedy is a past SDP President.


Diploma in Applied Arts, Business Administration, Northern Alberta Institute of Technology


Testified Before

Alberta Department of Energy; Alberta Energy and Utilities Board; Alberta Utilities Commission; British Columbia Utilities Board; Canada Energy Regulator; Federal Energy Regulatory Commission; Idaho Public Utilities Commission; Illinois Commerce Commission; Internal Review Committee; Manitoba Public Utilities Board; Minnesota Department of Commerce; Missouri Public Service Commission; Montana Public Service Commission; Municipal Government Board of Alberta; National Energy Board of Canada; New Brunswick Board of Commissioners of Public Utilities; New York State Public Service Commission; Newfoundland and Labrador Board of Commissioners of Public Utilities; North Dakota Utilities Commission; Northwest Territories Utilities Board; Nova Scotia Utility and Review Board; Ontario Energy Board; Régie de l’énergie du Québec; Utilities Rates Review Council; Yukon Utilities Board



Depreciation Expenses, A New Focus of Regulatory Scrutiny   PDF

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