And Two Become One, A Brief Strategic Merger Story
“Working as an integral part of our client’s team throughout the structuring of the transaction and the regulatory approvals process allowed us to support them for many years as they realized, and reported, the benefits of the transaction.” -Lisa Quilici, Senior Vice President of Concentric Concentric was retained to assist our client, a public utility […]
Day One Merger Integration Preparedness
“The importance of a strong Integration Management Office, and effective and engaging communication with the buyer’s and seller’s workforces through well-organized, multi-functional teams with clear mandates and workplans cannot be underestimated. The information and support gained from this process allow integration plans to evolve to meet the organization’s dynamic needs.” — Lisa Quilici, Senior Vice […]
Natural Gas LDC Highest and Best Use Study
Concentric 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 […]
Comprehensive Due Diligence on an Aggressive Schedule
Working on a very aggressive schedule, the Concentric team evaluated the potential acquisition of an electric utility owned by a public utility holding company. We completed a deep dive due diligence assessment and summary presentations to enable our client to evaluate the target as thoroughly as possible using publicly available information. At the request of […]
Transaction Management for Sale of a Nuclear Generating Facility
We provided an assessment of strategic alternatives for the client’s nuclear generating facility. We then supported the client with the sale of nuclear plant and acted as financial advisor and auction manager for that process. We prepared an offering memorandum, managed a highly technical and intensive due diligence process, solicited and evaluated bids, negotiated the […]
Sell-side Advisor for Sale of a Nuclear Generating Facility
The client wanted to carefully consider all of its strategic alternatives for its two nuclear generating units, including continuing to have them operated by the existing operating company, switching to a new contract operator, selling all or part of the units, maintaining rights to future generation development, and combinations of these alternatives. We were retained […]
Power Supply Procurement Advisory
We assisted a utility with the design, administration and evaluation of its power supply procurement processes. Specifically, we developed and administered the request for proposals (“RFP”), managed the due diligence process for interested parties, supported the development of transaction terms and documents, provided a preliminary review and modeling of bids received, identified the short list of […]
Natural Gas Infrastructure/Operations Alternatives Advisory
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 […]
Economic Impact Study
As part of our work in a proposed utility merger, our team modeled the broader economic impacts to the impacted state of a proposed electric rate reduction for all the utility’s electric customers using IMPLAN’s macroeconomic input-output model. The IMPLAN analysis quantified the amount of incremental economic activity, employment, and gross regional product generated in […]
Certificate of Necessity Support
We supported the client’s process of developing a Certificate of Necessity and Integrated Resource Plan filing for its public service commission for the purpose of receiving approval to build a clean coal project. We reviewed integrated resource plan assumptions, new construction cost estimates, review of Strategist model outputs, overall guidance and assessment of the Certificate […]
Plant Retirement and Redevelopment
Our utility client owns and operates coal-fired generating stations in the Midwestern U.S. Following the decision to retire certain coal-fired generating assets, the company’s decommissioning team was faced with the challenge of determining how to realize each retired site’s highest and best use. The goal was to find the best use for each site specific […]
Generating Facility Reliability Support
We provided assistance with a RFP for reliability services related to the retirement of the client’s power generating facility. This work involved a review of the RFP, including the review of key commercial terms and regulatory requirements, and development of the models and methodology to be used for the evaluation of bids. We also conducted the […]
Focused Management Audit
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 […]
Development and Negotiation of Power Purchase Agreements
Our role as lead financial advisor in the sales of generating assets has included the development and negotiation of power purchase agreements (“PPAs”), including: Development of form of PPA upon which to solicit proposals Development of pricing parameter (e.g., cost of service and market prices) to use in evaluation of proposals Review of bidder feedback […]
Detailed Overview and Technical Assessment of the North American Energy Industry
We provided advisory services pertaining to potential acquisitions of U.S. energy companies. We provided a detailed overview and technical assessment of the North American energy industry to help the client better understand the industry and regulatory landscape in which they may invest. The assessment included a detailed overview of the electric and natural gas industries […]
DOE Loan Guarantee Application Support (Electric Transmission)
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 […]
DOE Loan Guarantee Application Support (Nuclear)
We assisted the client with its filing of the $9 billion U.S. Department of Energy (“DOE”) loan guarantee application. We reviewed the feasibility of the project, evaluated the reactor technologies from a risk standpoint, attended meetings with the DOE on behalf of the client, responded to requests for additional information, and developed alternative financing plans. Throughout the assignment, […]
Regulatory Approval for a Proposed Merger
We are providing services in support of our client’s proposed acquisition an island electric utility. Our expert is the lead expert presented by the applicants in this proceeding and is the primary witness on all regulatory policy, merger benefits, and merger commitment issues.
Regulatory Approval Support for a Merger
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.
Spent Nuclear Fuel Litigation Support
We have provided litigation support and expert testimony to clients in six separate legal proceedings before the U.S. Court of Federal Claims on the government’s breach of the Standard Contract for spent nuclear fuel disposal. We screened and analyzed more than a hundred thousand pages of discovery materials in these cases, advised the clients’ legal […]
Utility Pre-Audit and Audit Support Services
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, […]
Prudence Review of Project Management Practices
Following the completion of major construction activities at the client’s coal-fired generating units, we reviewed the client’s efforts to develop and construct the project. We reviewed and opined as to the prudence of the project management practices utilized to construct this project, including the client’s initial cost estimation efforts, risk management process, organizational structure, project […]
