Ralph Zarumba


Financial Advisory:
Divestitures, Merger activities, Valuations

Market Analysis and Resource Planning:
Demand response, Distributed generation, Net metering, Procurement and hedging advisory

Cash working capital, Cost allocation, Cost of service studies (marginal and embedded), Incentive regulation, Lead-lag studies, Management audits, Rate design, Regulatory policy, Regulatory strategy, Stranded cost recovery

Ralph Zarumba

Vice President

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Summary of Experience

Mr. Zarumba has over 33 years of experience specializing in regulatory issues and economic analysis associated with energy utilities in North America, Europe, Central America, and Asia. He has appeared as an expert witness in a number of regulatory and legal proceedings addressing pricing, marginal and embedded cost of service, electric generation, transmission and distribution issues, unregulated operations of utility holding companies and regulatory treatment of Smart Grid investments. Additionally, Mr. Zarumba has assisted clients in other matters including depreciation studies, valuation, and evaluation of the results of competitive bidding for electric generation services.

Mr. Zarumba’s testimonies have been presented before the Nova Scotia Utility and Review Board, the Federal Energy Regulatory Commission, the Massachusetts Department of Public Utilities, the Rhode Island Public Utilities Commission, the Illinois Commerce Commission, the Wisconsin Public Service Commission, the Ontario Energy Board, the New York Public Service Commission, the New Mexico Public Regulation Commission, the Kansas Corporation Commission, and the New Brunswick Energy and Utilities Board, as well as a number of other venues.

Mr. Zarumba has provided a number of papers and presentations on various regulatory, pricing design, cost-of-service, and market analysis issues.


M.A., Economics, DePaul University

B.S., Economics, Illinois State University

Testified Before

Federal Energy Regulatory Commission (“FERC”); Illinois Commerce Commission; Kansas Corporation Commission; Libertyville, IL Zoning Board; Massachusetts Department of Public Utilities; McHenry County, IL Zoning Board of Appeals; New Mexico Public Regulation Commission; New York Public Service Commission; Nova Scotia Utility and Review Board; Ontario Energy Board; Puerto Rico Energy Commission; Rhode Island Public Utilities Commission; Texas Public Utilities Commission; Wisconsin Public Service Commission.

Case Studies

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