Gee Strategies Group, LLC

THURSDAY, DEC. 9

7:00-8:00

Registration and Continental Breakfast

8:00 -8:15

Welcome, Commissioner Jack Alter, New Jersey Board of Public Utilities

Agenda Overview & Ground Rules
Robert Gee, President, Gee Strategies Group

8:15 - 8:45

Current Challenges for the Industry
A brief recap of the evolution of the industry’s market structure, regional differences, and the next round of federal regulatory issues that impact the states.

Presenter: David Owens, Executive Vice President, Edison Electric Institute

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8:45 - 10:45

Utility CEO/Commissioner Roundtable: "The New Business Environment For Utilities"

Introduction: This will be an opportunity for utility CEOs to discuss with regulators their current business models and the expanded set of business risks inherent in them. For the varied utility organizational structures, what are the impacts and possible resolutions for the new business risks?

Moderator: Robert Gee, President, Gee Strategies Group

Panelists:
Wayne Brunetti, Chairman and CEO, Xcel Energy, Inc.
Michael Morris, Chairman, President and CEO, American Electric Power Company, Inc.

Lead Respondents:
Wendell Holland, Chairman, Pennsylvania Public Utility Commission
Jim Burg, Commissioner, South Dakota Public Utilities Commission

10:15 - 10:30

Break

10:30 - 12:00

Credit Rating Agencies’ Perspectives on Regulation and the Utility Business

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Introduction: Brief overview of the debt market perspectives of the industry including how the actions of state regulators impact their rating process, and the unique role that credit rating agencies play in the market place.

Moderator: Steve Fetter, President, Regulation UnFettered

Panelists:
James Hempstead, V. P. and Senior Analyst, Moody's Investors Service
Phil Smyth, Director, Corporate Finance in Global Power, Fitch Ratings
Todd Shipman, Director, U.S. Utilities, Energy, & Project Finance, Standard & Poors

Lead Respondents:
Paul G. Afonso, Chair, Massachusetts Department of Telecommunications
Jack Alter, Commissioner, New Jersey Board of Public Utilities
Anthony Rachal, Commissioner, District of Columbia Public Service Commission

12:00 - 1:30

Buffet Lunch

1:30 - 3:00

The Security Analysts’ Perspectives on Regulation and the Utility Business

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Introduction: Brief overview of the financial perspectives and unique roles that Buy & Sell Side, Fixed Income & Equity analysts play in the financial market place and how the actions of state regulators impact their decisions.

Moderator: Julie Cannell, President, J.M. Cannell, Inc.

Panelists:
Evan Silverstein, President, SilCap, Inc.
Terran Miller, Executive Director, UBS Investment Bank
Hugh Wynne, Senior Research Analyst, Sanford C. Bernstein & Co., Inc.
Barbara Chapman, Senior Fixed Income Analyst, Guardian Life Insurance Company

Lead Respondents:
Steve Furtney, Commissioner, Wyoming Public Service Commission
E. Shirley Baca, Commissioner, New Mexico Public Regulation Commission
Connie Murray, Commissioner, Missouri Public Service Commission

3:00 - 4:15

Commissioners Roundtable—Reflections on Day One
Moderator: Paul G. Afonso, Chair, Massachusetts Department of Telecommunications

4:15

End of Panel Day

6:00 - 9:00

Reception and Dinner with Invited Financial Community Guests
Hosted by EEI, Omni Berkshire Place Hotel, 52nd and Madison, NYC

FRIDAY, DEC. 10

7:00 - 8:00

Breakfast

8:00 - 8:05

Program Goals for Day Two
Presenter: Robert Gee, President, The Gee Strategies Group

8:05 - 9:35

The New Investors in the Utility Business

Introduction: Private equity investors have become a significant presence in the utility industry. Representatives of firms seeking to acquire utilities and assets including generation, trading, and transmission will explore their rationale behind committing capital under their control.

Moderator: Jeffrey Holzschuh, Managing Director, Morgan Stanley

Panelists:
Douglas Kimmelman, Managing Director, Goldman Sachs & Co.
Alp Ercil, Managing Director, Perry Capital
Patrick Eilers, Director, Madison Dearborn Partners, Inc.

Lead Respondents:
Marc Spitzer, Chairman, Arizona Corporation Commission
Mignon Clyburn, Commissioner, South Carolina Public Service Commission
Joseph “Max” Curran, Commissioner, Maryland Public Service Commission

9:35 - 10:50

The Investment Bankers’ Perspectives on Regulation and the Utility Business

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Introduction: Brief overview of the financial perspectives and unique role that Investment Bankers play in the market and how the actions of state regulators impact their decisions.

Moderator: Carl Seligson, Senior Advisor, K Road Management, LLC

Panelists:
Thomas Osborne, Managing Director, UBS Securities LLC
James Dobson, Managing Director, Deutsche Bank Securities Inc.
James von Riesemann, Vice President, Lazard Freres & Co. LLC
John Thorndike, Vice Chairman, Investment Banking, Merrill Lynch & Co.

Lead Respondents:
Wendell Holland, Chairman, Pennsylvania Public Utility Commission
Brian Moline, Chair, Kansas Corporation Commission

10:50 - 11:50

Final Thoughts on the Dialogue: The Commissioners Get the Last
Word

Moderator: Jim Burg, Commissioner, South Dakota Public Utilities Commission

11:50 - 12:00

Closing Remarks

Robert Gee, President, The Gee Strategies Group

Adjournment