2. The Institute of Public Utilities  IPU has served the regulatory policy community as an independent unit of MSU since 1965 – providing training for 15,000+ regulators with the help of an exceptional program faculty team  The IPU mission is to support informed, effective, and efficient regulation of utilities providing essential infrastructure, networks, and services – in the electricity, natural gas, water, and telecom sectors  Neutral, comprehensive, and integrative educational programs and interdisciplinary policy research – with adherence to university standards and values for research and education  A principled approach to regulation, an empirical approach to regulatory analysis, and a reasoned approach to structural and regulatory change  A bias toward balance and “balancing act” theory of regulation (“the middle”)  Fidelity to the “ideal” of “regulation in the public interest”

4. Welcome! Commissioners: 3 Commission staff: 63 Federal agency: 10 International: 4 Private, law firm: 3 State agency: 1 University: 1 Analyst: 28 Attorney, counsel: 16 Engineering: 14 Economist: 7 Advisor: 5 Accountant: 1 Other: 15

5. Why Grid School?  The immense national challenge of modernizing the transmission and distribution grids to accommodate an envisioned energy future  A non-incremental policy shift with a vast long-term commitment of human, technical,, and financial resources – including stimulus funding (ARRA)  Significant financial and other impacts on utility companies, their customers, and society as a whole  Complex and challenging economic and political environment, with high stakes and many stakeholders  A problem calling for interdisciplinary and “critical” understanding – “engineering-economics”  The need for evidence-based and prudent policy, strategy, and investment -- from promise to reality  An imperative for independent, informed, and rigorous economic regulation

6. Program notes  About the program and its origins – and special thanks  Argonne National Laboratory  NARUC, Miles Keogh, Buddy Atkins, Raj Barua, Bill Smith, Megan Koebel  About program integrity – brought to you “commercial free”  About the outstanding program faculty  Program agenda and format – please participate!  Continuing education credits (CLE/CPE)  Online resources ipu.msu.edu  Please complete evaluation forms  Let us know your concerns  Put your name in your book  Thanks you for your commitment and for helping us make Grid School a success! Listen, network, and enjoy!  Contact: ipu.msu.edu, ipu@msu.edu

7. Your goals for the week?

8. NETL video http://www.netl.doe.gov/smartgrid/video.html http://www.netl.doe.gov/smartgrid/video.html

9. IEEE video http://www.youtube.com/watch?v=YrcqA_cqRD8 http://www.youtube.com/watch?v=YrcqA_cqRD8

10. Obama video http://www.youtube.com/watch?v=9RJiElIhBz4 http://www.youtube.com/watch?v=9RJiElIhBz4