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Director Regulatory Strategy & Revenue Policy

Location: WASHINGTON, DC, United States
Organization: PHI Service Company
Job ID: 232982
Date Posted: Aug 25, 2021

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Job Description

Description

At Exelon, we've got a place for you!

Join the nation's leading competitive energy provider, with one of the largest electricity generation portfolios and retail customer bases in the country. You will be part of a family of companies that strives for the highest standards of power generation, competitive energy sales, and energy delivery. Our team of outstanding professionals is focused on performance, thought leadership, innovation, and the power of ideas that come from a diverse and inclusive workforce.

Exelon will provide you the tools and resources you need to design, build and enhance a successful career. We are also dedicated to motivating the success of our employees through competitive base salary, incentives, and health and retirement benefits.

Join Exelon and share your passion at a forward-thinking Fortune 100 company. Establish yourself in a place where you can truly shine and create a brighter, more sustainable tomorrow. Energize your career at Exelon!

PRIMARY PURPOSE OF POSITION 

Develop and lead Revenue Policy functions and special projects, including retail regulatory filings and the strategic review of alternative cost regulatory mechanisms. As part of the PHI and Pepco regulatory team, this function assists in the planning, development, recommendation and support of the strategic policies and positions for Pepco’s distribution revenue requests internally before Exelon/PHI key senior management, and externally before state agencies, as appropriate. This position will also work closely with Operations and Financial Planning & Analysis to develop multi-year plans and monitor variances between actual results and the Commission approved plan. This position will also support the governmental and external affairs team by providing comments, and possible testimony, on certain regulatory-related legislative matters under consideration in Maryland and the District of Columbia. This function will include the responsibility for testifying on the Company’s behalf as its distribution revenue requirements witness in litigated, regulatory proceedings.

Development and lead team to implement the Company’s strategic regulatory options beyond the traditional revenue requirements model. Work with internal and external parties to define creative regulatory infrastructures and alternative regulatory approaches that further the Company’s positions on matters encompassing strategy, policy and operations.

The position has an extremely high impact on Pepco’s revenue streams and regulatory framework, resulting from Washington D.C. and Maryland’s regulatory and legislative environment.

Position may be required to work extended hours, including 24 x 7 coverage during storms or other energy delivery emergencies.   
    
PRIMARY DUTIES AND ACCOUNTABILITIES 

1. Develop and implement strategies to obtain timely recovery of costs through annual rate case filings and other appropriate mechanisms.         

2. Provide strategic direction and leadership to the Pepco Regulatory Strategy and Revenue Policy team for all activities regarding revenue, policy & analysis that achieves Pepco Holdings goals. Participate and collaborate with all other regulatory issues at Pepco, Delmarva Power and Atlantic City Electric. Utilize leadership skills, a broad understanding of electric utility operations, and in depth working knowledge of financial, legal, and regulatory concepts unique to the electric utility industry.        
3. Develop optimal approach to enhancing and maximizing revenues through the development of strategic direction in the Pepco regulatory environment while maintaining a consistent external position for the Company. Develop new sources of revenue through new tariff development as well as utilization and interpretation of existing electric tariffs to generate new revenues.        

4. Provide leadership and strategic direction for revenue retention, electric rate case development, execution and implementation to meet the Company’s financial goals.         

5. Represent the Company in litigated proceedings as an expert witness. Review and present testimony and undergo cross examination as Company expert witness for rate cases and other related filings with the state regulatory body using analytical skills and an in-depth working knowledge of retail electric service tariffs, charges, terms, conditions, rules, reports, policy, contract forms, legal, regulatory, and financial concepts and standards unique to the electric utility industry.         

6. Provide strategic support to legislative policy development and implementation in order to effectuate Exelon and Pepco’s business issues that are impacted by legislative activity.        
    

POSITION SCOPE
 
Due to the magnitude of revenue, margin, and earnings impacted by this position, the effects of decision-making and asset management are extremely high.  In 2020, Pepco reported $2.1 billion in operating revenues with total assets of $9.2 billion.  
This Director Regulatory Strategy and Revenue Policy is one of the key relationship-holders with the Commissioners of the Public Utility Commission. The impact of this position on financial results and the credibility and image of Pepco is extremely high.  This position also appears frequently before the Commission as both an expert witness in Company electric proceedings and other policy and financial impact proceedings before the Commission.
 
The Director also works with peers and Senior Executives across PHI and Exelon Utilities to formulate policy recommendations and decisions on behalf of the Corporation. This requires significant understanding of a large number of issues affecting Pepco, Exelon and its various subsidiaries and the associated financial and strategic issues.
    
Day to day supervisory responsibilities are direct, administrative, or functional in nature, and will typically involve the management of a department or project team.  Direction includes oversight of work assigned to subordinates, proper application of retail electric service tariffs and Company policies for such tariffs by a variety of areas across the Company, and compliance with regulatory requirements related to retail electric and/or gas service tariffs.
    
Internal contacts include senior management as well as personnel at all levels in various organization throughout the Company. External contacts include state regulatory Commission; outside attorneys including those that represent the Company and those that represent other parties in litigation involving Company tariffs; counterparts from other utilities; high profile and influential customers, their agents, customer consultants, and other customer representatives. 
    
Interactions require satisfactory disposition, ability to adjust, skill in selecting appropriate courses of action, and diplomacy. Cooperation, tact, excellent judgment, and persuasiveness are essential to advance the Company’s position or to prevent measurable negative impact on the Company’s credibility, image and/or business.
    
The level of autonomy in decision-making is very high due to the complexity of issues and the numerous negotiations involving rates, taxes, and other legislative matters that have a business impact.

The Director Regulatory Strategy & Rev Policy will manage a total of seven direct and indirect reports. 
    
Attend political and community events, board meetings, fundraisers, etc. 

Qualifications

POSITION SPECIFICATIONS

Minimum:

- Undergraduate degree in Business, Accounting, or Engineering.

- Masters Degree in Business Administration or Law (J. D. )

- Minimum 12 years experience in energy industry.

- At least Ten (10) years experience in managing in a changing business environment.

- At least Five (5) years experience in managing in a deregulated market environment.

- Proven ability to develop solutions to resolve complex financial and regulatory issues involving tens of millions to hundreds of millions of dollars annually.

- Demonstrated complex negotiation skills necessary to resolve issues of significant financial impact and image to the Corporation.

- Demonstrated ability to build consensus, establish trust, communicate effectively among external and internal stakeholders to maximize solutions to complex regulatory and financial issues.

- Demonstrated detailed knowledge of corporate tariffs, PUC regulations, revenue requirements, and risk management.

- Ability to develop numerous business and political relationships with legislators, regulators, and other parties that impact our business.

- Demonstrated leadership ability in a high performance culture.

- Demonstrated ability to foster culture change and implement performance management.

- Demonstrated project management skills.


Exelon is proud to be an equal opportunity employer and employees or applicants will receive consideration for employment without regard to: age, color, disability, gender, national origin, race, religion, sexual orientation, gender identity, protected veteran status, or any other classification protected by federal, state, or local law.

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