Ron Denhardt's Biography
EXPERT WITNESS TESTIMONY
Mr. Denhardt manages the development of Natural Gas SEER, Natural Gas Scenarios 2003 and SEER's consulting in natural gas services. He has over 20 years of experience in the energy industry, focusing primarily on the natural gas and electric industries. His experience includes strategic planning, acquisition analysis, regulatory analysis, market evaluations, fuel planning, supply contracting, risk mitigation, transportation, pricing, pipeline economic problems, and investment decision analysis. In addition, he has developed financial models, negotiated fuel purchase contracts and provided strategic planning advice for energy companies in the areas of coal, electricity, gas, oil, and synthetic fuels. Mr. Denhardt has assisted electric utilities in generation and fuel planning. He has helped over 20 major utilities implement energy, peak demand, and system load shape forecasts. He has served as an expert witness in several natural gas proceedings.
Before joining SEER, Mr. Denhardt was a Vice President of natural gas services at WEFA. He was the primary author of Natural Gas Monthly, a publication that provides natural gas price, supply and demand forecasts for clients. In addition, he oversaw projections of a long term natural gas supply, demand, and price outlook for North America. Prior to this he was a Principal at Jensen Associates for over 10 years, Director of Strategic Planning for an energy holding company in the Northeast and a consultant at Data Resources, Inc. (DRI). In this position he assisted electric utilities in their demand forecasting and fuel planning efforts. His work involved the development of state-of-the-art forecasting and simulation models, the development of database management systems, and strategic planning. He also directed the advanced econometrics education group for DRI's Eastern Region.
Mr. Denhardt has a Ph.D in economics from the University of Minnesota and a BS in Finance (Summa Cum Laude) from the University of Maryland.
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Evaluated a high deliverability storage field using options theory
Developed a multi-client study of the Northeast gas market - This study analyzed major supply projects to the regions, pipeline flows, natural gas demand and prices.
Assisted a trade organization file responses on deregulation of natural gas transportation.
Completed a strategic planning project, which developed a strategy for adding value to natural gas production for the President of a large natural gas production company
Performed a strategic analysis of possible entry into global electric generation markets
Provided consulting support for the development of natural gas transportation tariffs and strategic planning in Mexico
Directed a study of methods on overcoming barriers to using natural gas for electric power generation - The study reviewed contracting strategies of electric utilities, independent power producers, and non-utility generators. The study was based on an extensive review of gas supply contracts, discussions with financial institutions and developers concerning the use of financial hedges such as swaps and options, and interviews with electric utilities, producers, and developers concerning contracting strategy.
Performed a study for an electric utility evaluating purchasing gas supply for non-utility generators
Directed a study for the Gas Research Institute on the seasonality of natural gas prices and gas price information
Conducted extensive workshops and interviews with electric utilities and developers concerning the use of natural gas for electric utility generation - The objective of these activities was to determine the potential demand for natural gas, contracting practices and difficulties, and the risks of using natural gas for electric power generation.
Managed a project to assist a large local distribution company develop and implement a gas supply strategy - This project involved assessing supply requirements, identifying and evaluating options, and assisting in the structuring and negotiation of a long-term gas supply contract.
Provided recommendations to a potential LNG exporter concerning alternative structures of gas supply contracts
Assessed the effectiveness of the organizational structure of a major pipeline holding company to deal with likely developments in the natural gas transportation, market, and regulatory environment
Directed a project that analyzed pricing and other provisions of 18 long-term gas supply contracts
Management of a project to assist a large electric utility in its efforts to obtain natural gas transportation through participation in the FERC's "Open Season" filing - This project involved evaluating the cost of LDCs' peaking gas, determining the availability of interruptible transportation, identifying areas of potential rate discounts and rate risks, and assisting the client's efforts to evaluate and negotiate firm transportation arrangements.
Consultant for the Official Pipeline Guide (OPG), a personal computer-based natural gas transportation service used by most interstate pipeline and by major marketers and producers of natural gas - Mr. Denhardt insured that OPG would deal effectively with the natural gas transportation environment that evolved out of the FERC's "Open Access" transportation rulemaking and pipelines' responses to these rules.
Conducted a multi-client study that assesses demand forecasting systems and their role in integrated resource planning for LDCs
Assisted an electric utility company assess the risk of natural gas based generation and possible strategies to mitigate this risk
Valuation of a gas storage field
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DRI-WEFA Energy Scenarios 2000: The Impact of Technology and Environmental Regulation, The Natural Gas Outlook, Enerdata, March, 2000.
The Implications of Regulatory Considerations and Options Theory for Basis Differentials, The Natural Gas Outlook, Enerdata, December, 1999.
Natural Gas Market Outlook and Risks, The Natural Gas Outlook, Enerdata, December, 1998.
Northeast Natural Gas Markets, Opportunities and Risks, DRI-WEFA, Inc. Multiclient, November 1998.
Global Warming: The High Cost of the Kyoto Protocol, prepared with Novak for the American Petroleum Institute, 1998.
Global Warming: The Economic Cost of Early Action, prepared with Novak for the American Petroleum Institute, 1997.
Rethinking the Secondary Market for Natural Gas Transportation, Public Utilities Fortnightly, Vienna, VA; April 1995.
Alternatives for Electric Utility Gas Supply Risk Management, Contract No. 5090-810-2083, Gas Research Institute, Chicago, IL, March 1992.
Factors Affecting Seasonal Gas Prices: Analysis of Trends and R&D Implications, Contract 5090-810-2083, Gas Research Institute, Chicago, IL, February 1992.
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EXPERT WITNESS TESTIMONY
Expert witness testimony before the National Energy Board on behalf of Vector Pipeline Ltd. Testimony addressed basis differentials, pipeline risk, market hubs, and adequacy of supply. (1999)
Provided expert witness testimony before the Vermont Public Utilities Commission on Vermont Gas Company's gas supply contracts. (1991)
Provided expert witness testimony before the Massachusetts Energy Facilities Siting Council on "Issues Related to the Potential Use of Gas in the New Bedford Cogeneration Facility." (1990)
Provided expert witness testimony before the National Energy Board of Canada on the Northeast demand for natural gas and the risks to TransCanada Pipeline Ltd. of recovering their cost of service. (1990)
Member, International Association of Energy Economists
Member, American Economic Association
Past member, National Coal Association Economics Committee
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