Excerpts from Proposition 103 Testimony

What is the purpose of your testimony? The purpose of my testimony is to demonstrate how the rate of return resulting from a particular rate may be calculated using the discounted return methodology and how it is used in the ratemaking process. Since I have been vitally involved in the development and application of this methodology, I am here to offer a hands-on perspective of how this is applied in actual practice--to ratemaking and other areas.