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Agenda: Energy Infrastructure Finance

A Public Meeting on the Quadrennial Energy Review, Hosted by the United States Department of Energy

October 6, 2014, 9:30 a.m.
New York University Kimmel Center for University Life
Room 914
60 Washington Square South
New York, New York 10010

9:00 a.m. - Doors open

 

9:30 a.m. - 10:00 a.m. Opening Remarks

  • The Honorable Ernest Moniz, Secretary, U.S. Department of Energy
  • The Honorable Carolyn Maloney, United States House of Representatives

10:00 am. - 11:00 a.m. Panel 1: ATTRACTING AND MAINTAINING CAPITAL FOR ENERGY TRANSMISSION, STORAGE, AND DISTRIBUTION

How do investors and capital markets view energy TS&D infrastructure as an asset class, especially compared to other sectors? Given the need for additional energy infrastructure investment, is there a limitation to the supply of capital or a lack of attractive projects? What are the implications of current low interest rates and potential future changes for investing in energy TS&D infrastructure now vs. later? How can the investor, policy, and energy communities collaborate to reduce risk, increase the rate of return, or otherwise facilitate financing of electricity, natural gas, and liquid fuels infrastructure? Where can the federal government be effective in reducing barriers to capital flow to needed energy TS&D infrastructure?  

• Eli Katz, Partner at Chadbourne and Parke, LLP, Adjunct Prof. of Law at NYU Law
• Kerri Fox, Managing Director and Head, Project Finance North America, BBVA
• John Lange, Global Head, Power and Utilities Group, Barclays Capital
• George Schultz, Senior Manager, Green Tech Solutions, Munich Reinsurance Group
• Nicholas Whitcombe, Managing Director, New York Green Bank

11:00 a.m. - 12:00 p.m. ​Panel 2: BANKABILITY OF ELECTRICITY TS&D INFRASTRUCTURE

IIn an era of declining or negative demand, how do TS&D owners view corporate growth and plan for needed upgrades? How should functional capabilities (such as resiliency or ancillary services) and externalities (such as climate risk) be evaluated, priced, and compensated?  Are their new financing applications or structures that would accelerate development of needed TS&D infrastructure (e.g. REITS, Green Bonds)? What potential changes in tax status could affect investment in needed TS&D infrastructure?  Where can the federal government reduce barriers to capital flow to needed electricity TS&D infrastructure?  

• Judith Judson, Former Chair, Massachusetts PUC and Director, Emerging Technologies, Customized Energy Solutions
• Gregory Rutherford, Executive Director, Investment Banking Division, Morgan Stanley
• Daniel S. Sullivan, CEO/Director of Investments, Grand River Dam Authority
• Humayun Tai, Director, McKinsey Company
• Steven J. Zucchet, SVP, Borealis Infrastructure

12:00 p.m. - 1:00 p.m. Panel 3: OPPORTUNITIES AND CHALLENGES FOR NATURAL GAS AND LIQUID FUELS TS&D INFRASTRUCTURE

How should returns be balanced with the ability of ratepayers to absorb increasing system needs, such as leaking distribution systems or resiliency upgrades? Given possible future increases in interest rates, what is the trade-off of investment now vs. later? How have LNG export, increased demand from electricity generation, and other external challenges altered the landscape for pipeline and storage investment? What is the role of corporate structures (such as MLPs and REITs) for TS&D under scenarios of growth or uncertainty for natural gas and liquid fuels delivery infrastructure? Where can the federal government reducing barriers to capital flow to needed natural gas and liquid fuels TS&D infrastructure?

• Curt Launer, Senior Vice President, American Energy Partners LP
• Lindsay Sander, Founder, Sander Resources, on behalf of the National Association of Publicly Traded Partnerships
• Robert E.  Curry, Jr., Senior Consultant to CRA, Charles River Associates
• Alfred J. Puchala, Jr., Chief Executive Officer, Capitol Peak Asset Management
• Peter Carnavos, Director, Gas Supply in Energy Management, Con Edison

1:00 p.m. Open Mic for Public Comment

The public will have an opportunity to make 5-minute statements for the record.