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SUMMARY OF TESTIMONY <br /> <br />Witness: Autryb Warren, Jr. <br />Background: Received a Bachelor of Business Administration degree in <br /> Accou. nting in 1980 and is a Certified Public Accountant ("CPA") <br /> in the State of Texas. Employed by Dallas Power & Light <br /> Company in 1980. Worked in Corporate Accounting, Customer <br /> Services, and Rates & Regulatory departments. Held positions <br /> of Supervisor of Financial and Operations Reports, Budgets <br /> Supervisor, General Accounting Manager, Customer Service & <br /> Marketing Manager, Regulatory Financial Manager, and Rates <br /> Manager. Became Director, Gas Regulatory in November <br /> 2002. Has previously provided testimony before the Railroad <br /> Commission of Texas ("RRC") on accounting-related matters in <br /> GUD 9225, GUD 9299, and GUD 9313; and before the Public <br /> Utility Commission of Texas ("PUC") in Docket No. 20200. <br /> <br />Purpose of Testimony: <br /> <br /> (1) Sponsor the results of lead/lag studies for measuring the <br /> cash working capital ("CWC") allowance required for TXU Gas; <br /> and (2) Present the Company's proposal for the recovery of <br /> rate case expenses associated with the filing. <br /> <br /> Key Points/Issues: <br /> <br /> The Company, in this proceeding, has identified and should be <br /> able to recover through rates the following: <br /> <br /> · The CWC requirement for Distribution and Pipeline; and <br /> · Reasonable rate case expenses through the application of <br /> a surcharge according to the tariff as proposed by the <br /> Company. <br /> <br /> After the proceedings and hearings have concluded in this filing, <br /> there should be a short hearing for the purpose of presenting rate <br /> case expenses. <br /> <br /> Summary/Recommendations: <br /> <br /> The CWC requirement for Distribution is ($53,763,162), and the <br /> CWC requirement for Pipeline is ($3,224,772). The CWC <br /> amounts are negative primarily because Distribution and Pipeline <br /> both sell receivables, and this results in the overall receipt of <br /> revenues ahead of the payment of the associated expenses. <br /> The Company's calculation of CWC requirements is fair and <br /> reasonable and appropriately included in rate calculations. The <br /> <br /> Warren - Summary of Testimony Page I of 2 <br /> <br /> <br />