20180924Dobson Supplemental Direct.pdf

ldaho Public Utilities Commission
Office of the SecretarvRECEIVED
sEP 2 { 20t8
o
o
ON BEIIAIE OE AVISTA CORPORATION
DAV]D J. MEYER
VICE PRES]DENT AND CH]EF COUNSEL FOR
REGULATORY & GOVERNMENTAL AFFAIRS
P.O. BOX 3121
1477 EAST MISSION AVENUE
SPOKANE, WASHTNGTON 99220-3121
TELEPHoNE: [phone]
FACSIMILE: [phone]
DAV] D. MEYERGAV] STACORP . COM
Boise, ldaho
ON BEHAIF OE HYDRO ONE I,IMITED
ELIZABETH THOMAS, PARTNER
KARI VANDER STOEP, PARTNER
K&L GATES LLP
925 FOURTH AVENUE, SUITE 2900
SEATTLE, WA 981014-1158
TELEPHONE: [phone]
EACSIMTLE: [phone]
L] Z . THOMASGKLGATES . COM
KARI . VANDERSTOEPGKLGATES . COM
BEEORE THE IDAIIO PT'BLIC UTII.ITIES COMMISSION
IN THE MATTER OF THE JOINT
APPL]CAT]ON OE HYDRO ONE LIM]TED
(ACTING THROUGH ITS ]NDIRECT
SUBSIDIARY, OLYMPUS EQUITY LLC)
AND
AVISTA CORPORAT]ON
EOR AN ORDER AUTHORIZING PROPOSED
TRANSACTION
)
) CASE NO. AVU-E-11-09
) CASE NO. AVU-G-17-05
)
)
) SUPPLEMENTAL TESTIMONY
)oF
) PAUL M. DOBSON
EOR HYDRO ONE LIMITED
o
o
o
1
2
3
4
5
6
1
B
9
I. INTRODUCTION
A. P1ease state your name, business address and
present positions with Hydro One Limited.
A. My name is Paul M. Dobson, and my business address
is 483 Bay Street, South Tower, 8th Efoor, Toronto, Ontario
M5G 2P5. I am the acting President and Chief Executive Officer
(*CEO") for Hydro One Limited ("Hydro One").1
A. Have you filed direct and rebuttal testimony in
this proeeeding?
A. No.
9. Are you sponsoring any exhibits that accotrE)any your
testimony?
A. Yes. Attached to my testimony is:
o Exh. No. B, Schedule 1 - Paul M. Dobson Biography
o Exh. No. B, Schedul-e 2 - Avista Extension of End
Date to March 29, 20L9
1 Prior to September 6,2018 f was al-so the Chief Einancial Officer ("CFO")
of Hydro One. On September 6, 2018, Christopher Lopez was appointed as
Acting CFO of Hydro One. I will- continue my role as Hydro One's Acting
President and CEO. See AVU-E-77-09, AVU-G-17-05, Supplemental Report on
Hydro One Management Changes (Sep. '7, 2018) .
Dobson, Supp 1
Hydro One Limited
10
11
1,2
13
74
15
t6
l1
o
o 1
2
3
4
5
6
1
o
9
A table of contents for my testimony is as follows:
I. INTRODUCT]ON
II. BACKGROUND
I]I. COMMITMENT TO MERGER. . .
Sununary of fgellqqqy
A. Please sr:runarize your testimony.
1
2
3
A My testimony
President and
introduces myself as Hydro One's
CEO and reiterates Hydro One's
o
10 acting
11 commitment to the merger.
72
13 II. BACKGROT'ND
74 A. Please describe your professional background.
15 A. I hold an honours bachelor's degree from the
16 University of Vfaterloo as wel]- as an MBA from the University
71 of V{estern Ontario and I am a CPA, CMA. f worked at CIBC for
18 10 years in finance, strategy and business development roles
19 in both Canada and the United States. Since 2003, I have hel-d
20 senior leadership positions in finance, operations,
27 information technology and customer service across the
22 Centrica Group, the parent company of Direct Energy. Prior to
23 joining Hydro One in
Ltd. (Direct Energy),
2018, I served as CEO for Direct Energy
24 Houston, Texas,where I was responsible
a $15 billion revenue
Dobson, Supp 2
Hydro One Limited
o 25 for overall financial leadership of
o 1
2
3
A
5
6
7
8
9
business with three million customers in Canada and the United
States. Please see my attached Biography (Exh. No. B, Schedul-e
1) for more detail.
A. Ifiren did you become CFO of Hydro One?
A. I became CFO of Hydro One on March 1, 2018.
A. T{hat was your role as CFO of Hydro One?
A. I was responsj-b1e for the following lines of
business: Corporate Finance (including Treasury), Risk,
Regulatory Affairs, Internal Audit, Investor Relations,
Technology, and Pens j-ons.
A. I{hen did you become acting President and CEO of
72 Hydro One?
13 A. I became acting President and CEO of Hydro One on
L4 July !!, 2078.
15 A. When you became aeting' President and CEO of Hydro
did you continue your role as CEO?
A. Yes, I continued my role as CFO until Christopher
was appointed Acting CFO on September 6, 2078.
16 One,
t1
1B Lopez
79
20 III. COMMII}{ENT TO MERGER
2T A. Does Hydro One rema.in comritted to this merger?
A. Yes. We remain committed to the merger and the
strategic rational-e for the merger remains. On September 19,
2018 the Hydro One Board passed a resolution affirming Hydro
))
Dobson, Supp 3
Hydro One Limited
10
o
11
Z5
o 24
o
o
1
2
3
4
trJ
6
1
8
9
One's obligations under the Merger Agreement and Hydro One's
the transaction. See Supplemental
. Woods. On the same d.y, Avista
intent to consummate
Testimony of Thomas
unilaterally extended
merger from September
No. B, Schedul-e 2 .
D
10
I
A
a
A
the end date for the Hydro One-Avista
30, 2078 to March 29, 2079. See Exh.
Wtren do you anticipate this merg'er closing?
We anticipate closing in Q4 of this year
Does this conclude your testimony?
Yes it does.
Dobson, Supp 4
Hydro One Limited
o