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Bates White economists Jonathan A. Lesser and Leonardo R. Giacchino participate
in LSI Utility Rate Cases seminar
WASHINGTON DC, February 7, 2008—Jonathan A. Lesser, PhD
and Leonardo R. Giacchino, PhD, Partners at Bates White LLC,
participated in the “Utility Rate Cases:
Current Issues and Strategies,” a seminar sponsored by Law Seminars International (LSI) in Las Vegas NV on
February 7 and 8, 2008.
Dr. Lesser’s presentation, “Financial Risks Faced by Regulated Utilities: Implications for the Cost of Capital and Ratemaking Policies,”
focused on cost of capital issues, including utility investment vs.
independent producers, risk assessments for thermal, and the interplay of environmental opposition and policies.
Dr. Leonardo R. Giacchino contributed “Cost Recovery for
Demand-Side Programs through Revenue Decoupling: And Economist’s, Perspective,” a presentation that discussed the design of alternative regulatory structures that align
utility profit-making incentives with energy efficiency programs. This presentation provided the economist’s perspective on
dealing with the utility’s natural reluctance to reduce sales and rate base.
Jonathan A. Lesser has more than 20 years experience working for
electric utilities, government, and academia as an economic consultant. He has addressed major economic and
regulatory policy issues affecting electric and natural gas utilities, ranging from market structure and operations
to cost allocation, rate design, capital investment decision strategies and general regulatory policy. He has
testified before numerous state public utility commissions and before the Federal Energy Regulatory Commission
(FERC). In addition, he has testified in commercial litigation cases. Dr. Lesser is the coauthor of
Fundamentals of Energy Regulation, published in 2007 by Public Utilities Reports, Inc.
Leonardo R. Giacchino has worked in more than 25 countries on
over 100 projects addressing economic and regulatory issues for U.S. and international businesses, investors,
governments, and organizations. He has helped negotiate tariff adjustments and regulatory reform with politicians
and regulators; performed tariff, pricing, and cost studies; calculated damages and compensation estimates;
developed business plans for new regulatory agencies in several countries; conducted due diligence and feasibility
studies for power plants, utilities, and pipelines; and developed network models for the energy industry.
Dr. Giacchino has provided testimony in numerous U.S. and international forums. He is the coauthor of
Fundamentals of Energy Regulation.
Media Contact
Julie Livingston, Director, Business Development
Bates White LLC
202.747.1436
(Julie.Livingston@BatesWhite.com)
About Bates White
Bates White is a consulting firm offering services in economics, finance, and business strategy to leading law firms,
Fortune 500 companies, and government agencies. We provide our clients with a unique combination of quantitative and
analytical expertise, and an understanding of business issues across a range of industries. Bates White has offices
in Washington, D.C., and San Diego, Calif.
www.bateswhite.com
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