Michael J. Adams


Financial Advisory:
Investment advisory and due diligence, Merger activities

Cash working capital, Cost allocation, Lead-lag studies, Management audits, Performance benchmarking, Revenue requirements

Michael J. Adams

Senior Vice President & Board Member

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Summary of Experience

Mr. Adams is a Senior Vice President with over thirty-five 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. He provides expert support and testimony on issues related to regulatory policy and precedents, revenue requirement, cash working capital, performance benchmarking, and affiliate transactions/shared services costs.

In addition to his expert testimony, Mr. Adams also provides support to his clients with litigation/regulatory investigations and audits. He is also frequently called upon by clients to provide regulatory research services in preparation for, or in support of, their ongoing or upcoming regulatory initiatives.

In a recent engagement, Mr. Adams provided analysis of a client’s A&G expenses to determine the appropriate level of said costs to be capitalized in future rate proceedings. The objective of the study was to calculate the percent of administrative expenses that were related to construction costs. He also assisted a large combination utility in developing a response to a regulator-initiated complaint pertaining to the client’s existing rates and alternative regulation mechanism.

Before joining Concentric, Mr. Adams was a Managing Director of Navigant Consulting, Inc. Mr. Adams is a Certified Public Accountant, a graduate of Illinois College, and holds an M.B.A. from the University of Illinois, Springfield. He also serves on Concentric’s Board of Directors.


M.B.A., Finance, University of Illinois

B.S., Accounting, Illinois College

Certified Public Accountant

Testified Before

Arkansas Public Service Commission; the City of El Paso, Texas; Connecticut Public Utilities Regulatory Authority; Federal Energy Regulatory Commission; Hawaii Public Utility Commission; Idaho Public Utilities Commission; Illinois Commerce Commission; Maine Public Utilities Commision; Maryland Public Service Commission; Massachusetts Department of Telecommunications and Energy; Missouri Public Service Commission; New Hampshire Public Utilities Commission; New Jersey Board of Public Utilities; Oklahoma Corporation Commission; Ontario Energy Board; Pennsylvania Public Utility Commission; Public Utilities Commission of Texas; Public Service Commission of West Virginia; Tennessee Public Utilities Commission; State Corporation Commission of Virginia.

Case Studies

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