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David E. Dismukes, Consulting Economist

David E. Dismukes is an expert in the analysis of economic, statistical, and public policy issues in energy and regulated industries. He has worked in academic, consulting, and public service. Dr. Dismukes’ regulatory experience includes serving as a staff economist and forecaster/statistical analyst for the Florida Public Service Commission.

Over the past 23 years, Dr. Dismukes has participated in over 200 regulatory proceedings, in 20 different states, and prepared pre-filed expert witness testimony, reports, and affidavits in Alaska, Arizona, Florida, Georgia, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Michigan, Mississippi, Nebraska, Nevada, New Jersey, Ohio, South Carolina, Tennessee, Texas, Utah, and Washington. Dr. Dismukes has also testified before both houses of the U.S. Congress and various state legislatures. 

In addition to his position as a consultant and partner at ACG, Dr. Dismukes also serves as a full professor, Associate Executive Director, and Director of Policy Analysis at the Center for Energy Studies, Louisiana State University. He is also an Adjunct Professor in Department of Economics in the E.J. Ourso College of Business Administration, the co-director of the Coastal Marine Institute in the School of the Coast and the Environment, and a member of the graduate research faculty at LSU.

Dr. Dismukes has given more than 200 energy-related presentations to civic, professional, and trade organizations over the past decade. His opinions on energy industry trends and issues have been quoted in the Wall Street Journal, the Washington Post, the New York Times, the Christian Science Monitor, the Los Angeles Times, and USA Today, as well as a host of other regional and local newspapers and trade newsletters.

Dr. Dismukes has extensive experience in all aspects of the natural gas industry from upstream production (offshore and onshore), to midstream processing, storage, and pipeline issues, to downstream natural gas distribution.  His downstream gas industry experience includes a market structure review of a proposed joint venture between a major energy marketer and natural gas pipeline company.  He has also conducted a number of analyses of natural gas procurement practices of local distribution companies (“LDCs”) in the course of purchased gas adjustments (“PGA”) proceedings.  He has also examined a number of natural gas procurement and transportation issues associated with electric utility fuel adjustment clause (“FAC”) investigations.  His most recent work includes the examination of demand-side management (“DSM”) and energy efficiency issues and revenue decoupling proposals.

Dr. Dismukes is also an expert at the examination of many traditional regulatory issues including the analysis of certain revenue requirement issues, class cost of service studies, revenue distribution, and rate design. Dr. Dismukes is trained in a variety of statistical methodologies and is well-versed in natural gas demand modeling and analyses including weather normalization. He has examined a number of other incentive and performance-based regulation issues in natural gas utility regulation.

Dr. Dismukes has prepared over 150 publications and conference papers on energy and regulated industries that have appeared in such journals as Resource and Energy Economics, Southern Economic Journal, Energy Policy, Utilities Policy, Energy Journal, Studies in Economic and Finance, IEEE Transactions on Power Systems, NRRI Journal of Applied Regulation, Natural Resources Forum, Journal of Business Valuation and Economic Loss Analysis, Journal of Legal, Ethical, and Regulatory Issues, International Energy Law and Taxation Review, Public Resources Law Digest, Electricity Journal, Oil, Gas, and Energy Quarterly, Natural Gas Journal, Oil and Gas Journal, Natural Gas Outlook, Public Utilities Fortnightly, Financial Times-Energy, and the American Oil and Gas Reporter.

His conference papers have been published in proceedings sponsored by the Society of Mechanical Engineers (“SME”), the Society of Petroleum Engineers (“SPE”), the Institute for Electrical and Electronic Engineers (“IEEE”), the International Energy Foundation (“IEF”), the International Association of Energy Economics (“IAEE”), the International Association of Science and Technology for Development (“IASTED”), the Southwest Academy of Management, and the Academy of Legal, Ethical, and Regulatory Issues.  He has contributed a number of chapters to books on energy and regulatory issues and is the co-author of a book on electric power restructuring and competition for CRC Press entitled: Power Systems Operations and Electricity Markets.

Dr. Dismukes received his M.S. and Ph.D. in Economics from the Florida State University.  He is a member of numerous professional associations including the American Economic Association, American Statistical Association, Econometric Society, Southern Economic Association, Western Economic Association, and the International Association for Energy Economics.

Kimberly Dismukes, Senior Research Consultant

Kimberly Dismukes is the managing partner and lead consultant with ACG. She has participated in more than 200 formal regulatory proceedings over the past 30 years, involving natural gas, electric power, telecommunications, and water and wastewater utilities.

Throughout her career, Ms. Dismukes has testified in more than 55 proceedings, thereby forming a broad and in-depth understanding of regulatory issues. These issues range from those in traditional revenue requirement, rate design, and rate of return cases to highly specialized concerns including fuel audits, water conservation programs, and incentive regulation plans. Ms. Dismukes has pre-filed testimony and/or testified in Alaska, Florida, Louisiana, Texas, Tennessee, Connecticut, California, Georgia, Nevada, North Carolina, Kansas, Utah, and Washington.

In the electric power and natural gas industries, Ms. Dismukes' investigations have included issues concerning affiliate transactions, decoupling, demand side management, capital trackers, performance-based regulation, retail wheeling and competition, stranded investment, electric restructuring, mergers and acquisitions, synergy cost savings, fuel projections, fuel adjustment and gas adjustment clauses, alternative coal technologies, production costing, avoided costs, off-system and unit power arrangements, economy energy transactions, excess capacity, prudence of large construction projects, rate design and class cost of service studies, customer charges and inverted block rates.

Ms. Dismukes has managed fuel audits of three gas utilities and one electric utility. These audits involved an examination of the reasonableness of the fuel costs included in adjustment clauses, the utility's compliance with the regulators' fuel adjustment orders, affiliate transactions, the prudence of fuel purchasing practices, take-or-pay considerations, nuclear fuel, inventory practices, and compliance with commissions' refunding requirements.

Ms. Dismukes' gas industry experience also includes examination of natural gas procurement and transportation issues associated with gas adjustment clause investigations. She has also examined LDC proposals to implement revenue neutrality and revenue decoupling proposals. Ms. Dismukes has also examined issues related to the development and implementation of natural gas energy efficiency and demand-side management ("DSM") programs and rate design matters including customer charges and inverted block rates. She has extensive experience in examining infrastructure replacement riders, production cost riders, as well as fuel riders. Ms. Dismukes has also investigated the costs, budgeting, cost recovery, prudence, and ratemaking treatment of Manufactured Gas plants.

Ms. Dismukes has developed models to evaluate the royalty fee for salt cavern leasing and assisted with the negotiation of the terms and conditions for the lease.

Ms. Dismukes has examined and/or testified on numerous revenue requirement and financial issues, including but not limited to affiliate transactions, mergers and acquisitions, regulatory treatment of acquisition adjustments, financial integrity, revenue adjustments, directory revenue, tax effect of interest, working capital, federal, state, local, and property taxes, proforma adjustments, projected test year, advertising expenses; charitable contributions; salaries and wages; depreciation; cost allocations, jurisdictional separations/allocations, capital structure, cost of debt and preferred stock, and risk return relationships.

Ms. Dismukes has developed financial models to evaluate the impact of various scenarios on the financial integrity of utilities, addressing such issues as potential bond downgrades and capital attraction. Her financial modeling includes analysis of the impact of load loss and customer growth and the related implication of proposed decoupling mechanisms. Ms. Dismukes has experience examining large offshore wind power transmission and generation projects. Her work includes modeling project financial profiles, capital costs, regulatory treatment and taxes.

Ms. Dismukes has worked on the behalf of attorney generals, public counsels, public service commissions, and other public and private organizations in 29 different states. She holds a B.S. (Finance) and M.B.A. (Finance) from the Florida State University and has published articles on affiliate transactions and mergers and acquisitions in Public Utilities Fortnightly.

Ed McGee, Engineering Associate

Mr. McGee is a professional engineer with a broad international background in the gas supply, energy, chemical, pipeline, LNG, and process industries. He has extensive experience in the application of planning and management techniques, and in the development of hydraulic simulation, risk management, and optimization models.

In the regulatory environment, Mr. McGee has extensive audit and hearing experience before various public utilities commissions. He has conducted eight management audits and has testified regarding LDC gas supply, portfolio composition, and gas peaking plants. He has also studied accelerated pipe replacement programs as well as natural gas development and supply capabilities, including hydraulic fracturing operations. Furthermore, Mr. McGee has assisted in the development of statewide energy assurance plans for Idaho and North Dakota.

Mr. McGee also has extensive experience in directing the construction of pipeline optimization and simulation models. In the landmark study for ISO-New England, he produced the first interconnected engineering model of all of New England's pipeline systems and all merchant power plants. Results indicated capacity constraints and forecasted when planned construction of gas-fired plants would lead to shortages of supplies and affect the reliability of the electric grid.

Mr. McGee received his B.S. and M.S. in Chemical Engineering from the University of Notre Dame and his MBA from the University of Chicago. He is a member of the American Institute of Chemical Engineers and the Institute of Management Sciences.

Elizabeth Oleks, Senior Research Associate

Ms. Oleks has been involved in an extensive number of projects in the natural gas and electric power industries over the past 15 years. Her experience includes providing support for various regulatory and government institutions, as well as private and public companies, on energy and regulatory matters. Ms. Oleks has worked extensively throughout the U.S., Mexico, and South America. Her consulting experience includes the examination of regulatory frameworks and tariff structures for both government entities and private companies in Canada, Mexico, Argentina, and Australia.

Ms. Oleks' natural gas industry experience includes the development of numerous financial models for the purpose of rate design and asset valuation within the context of rate reviews, privatizations, and greenfield development. She has assisted in the analysis of market competition for the provision of natural gas transportation services as well as the review of a proposed joint venture between a major energy marketer and natural gas pipeline company. She has examined fuel procurement issues and assisted in PGA audits for local distribution companies and has been involved in a number of cases analyzing the competitive nature of natural gas transportation (interstate, intrastate and LDC) and gathering markets. More recently, she has been involved in the examination of a number of LDC proposals to implement revenue neutrality and revenue decoupling. In addition, she has examined a number of issues related to the development of natural gas energy efficiency and demand side management programs.

Ms. Oleks has analyzed the infrastructure and service industries that support the offshore oil and gas industry in the Gulf of Mexico. She has estimated the potential economic benefits resulting from proposed LNG developments in Louisiana and the Gulf of Mexico and has evaluated the potential impacts of royalty relief on state oil and gas production.

Ms. Oleks holds her B.A. in economics from Trinity College in Hartford, Connecticut.

Greg Upton, Research Associate

Dr. Upton has three years of experience in supporting expert analysis of economic, statistical, and public policy issues in energy and regulatory industries. His particular expertise is in the examination of empirical analysis supporting public policy research.

During his tenure at ACG, Dr. Upton has worked on more than twenty regulatory cases in more than ten states. He has worked on a wide range of issues including the impact of utility rate increases on economic output, the distributional effects of different types of utility rate designs, economic impacts of new infrastructure programs, benchmarking analysis, forecasting prices/production of an array of commodities, economic valuation, and estimating the tax impact of a large environmental disaster.

Dr. Upton holds a Ph.D. in Economics from Louisiana State University, where he also received both an M.A. in economics and a B.S. in Economics with a concentration in empirical analysis. He has been a member of professional organizations such as the International Association for Energy Economics (IAEE) and the Southern Economic Association (SEA).

Dr. Upton also holds the position of Assistant Professor, Research at the Center for Energy Studies at LSU. His academic research interests are related to the analysis of economic, statistical and public policy issues in energy and regulated industries.

Michael Deupree, Senior Research Analyst

Mr. Deupree has over two and a half years of experience working for the Kansas Corporation Commission. During his time with the KCC, he provided expert analyses in proceedings concerning regulation of ratepayer-finance energy efficiency programs and compliance with EPA environmental regulations.

Mr. Deupree has also conducted analyses on topics relating to the relationship between energy and the environment, distribution infrastructure riders, renewable energy, and Class Cost of Service studies. He holds an MA in Economics from the University of Kansas and a BA in Business Economics with minors in Political Science and Mathematics from Buena Vista University in Iowa.

Julie McKenna, Senior Research Analyst

Ms. McKenna has over three years of experience working for the Maryland Public Service Commission. During her time in the electricity division, she developed expertise in the areas of rate design, regulated costs of service analysis, financial and cost of capital analysis, energy market structures, energy efficiency and demand reduction measures. She has also been the project manager for several Maryland energy programs involving energy efficiency and energy assistance measures.

Ms. McKenna has provided expert witness testimony in several regulatory proceedings, along with presentations and written analyses on various topics covering the electric and natural gas industries. Ms. McKenna holds a B.A. in Economics at Bloomsburg University in Pennsylvania and was also a member of the International Honor Society in Economics, Omicron Delta Epsilon.

Garrett Ordner, Research Analyst

Mr. Ordner is responsible for maintaining and updating the firm's utility database with government data on electric and natural gas utilities. He also uses the database to assist in preparing workpapers and schedules in support of ACG's expert testimony and reports. Mr. Ordner recently graduated from Louisiana State University with a B.S. degree in Economics with a concentration in empirical analysis and a minor in mathematics, and was a Univeristy Medalist. He is currently attending LSU as a graduate student, where he is working towards a Master's Degree in Applied Statistics with a minor in Economics.

Amanda Lipinski, Sr. Research Assistant

Ms. Lipinski provides administrative support. She is responsible for the organization of case documents and ensures that case filings are distributed to the appropriate members of the firm. Ms. Lipinski has extensive experience in office and operations management.

Technical Assistants

Our Technical Assistants provide maintenance of our comprehensive discovery databases, updating them on an ongoing basis. They also assist with the preparation of spreadsheets and schedules concerning electric, gas, and water and wastewater utilities. All of our Technical Assistants currently attend Louisiana State University.