Exeter Principals

Dwight Etheridge - Photo DWIGHT D. ETHERIDGE
Mr. Etheridge has 37 years of wide-ranging experience in the utility industry. His areas of expertise include business plan development, industry restructuring, rate design, marginal and embedded class cost-of-service studies, utility revenue requirement issues, load forecasting, resource planning, electric transmission system evaluations, natural gas pipeline analyses, power procurement, utility benchmarking studies, distributed generation, telecommunications, and contract negotiations. Mr. Etheridge has extensive experience in utility infrastructure analyses from his prior experience at a western electric utility and at Exeter while supporting federal and state clients on matters involving the need for, or alternatives to, electric transmission and natural gas transportation facilities.

Mr. Etheridge holds a B.S. in Business Administration from the University of California,
Mr. Hoyt has over 10 years of experience in the energy industry specializing in retail electricity markets, energy procurement, and policy design, implementation, and evaluation. Mr. Hoyt’s work at Exeter includes analysis of default electric service; state and federal regulation; demand-side management and demand response; electrification of residential, commercial, and industrial loads; state renewable energy, storage, and nuclear policy; and federal energy acquisition.

Mr. Hoyt holds an M.P.A. from The Ohio State University and B.A.’s in Government and English from Georgetown University.
Mr. Mierzwa has over 35 years of public utility regulatory experience. At Exeter, he has been involved in utility class cost of service, rate design analysis, and conducting investigations of the natural gas supply and procurement practices of local distribution companies. Mr. Mierzwa has testified on over 400 occasions in numerous state jurisdictions and before the Federal Energy Regulatory Commission (FERC). Mr. Mierzwa’s experience also includes revenue requirement analysis, the evaluation of performance-based incentive regulation, and the unbundling of utility services.

Mr. Mierzwa holds an M.B.A. in Finance and a B.S. in Marketing from Canisius College.
Ms. Mudd has nearly 30 years of consulting experience in the utility and energy sector. Her career includes work analyzing energy policies, regulations, and energy markets throughout the United States. She advises the federal government by providing strategies to optimize energy procurement and utility contracts, and she evaluates utility tariff structures and rates, and the impacts of renewable energy policies, climate change policy, and utility regulations on client costs and operations. Ms. Mudd analyzes the availability of renewable energy resources and conducts economic assessments related to electricity and natural gas supplies and the development of energy projects. She works primarily with the federal government, serving as a leading energy expert to the U.S. Department of Defense and the U.S. Department of Energy.

Ms. Mudd holds an M.A. in International Affairs with a concentration in Energy Policy and Economics from Johns Hopkins University and B.S.’s in Political Science and Biology from James Madison University.
Dr. Ogur has more than 20 years of experience in the energy industry specializing in electric utility regulation and organized & bilateral wholesale and retail electricity markets. His work at Exeter entails procurement of wholesale & retail, conventional & carbon-free, short-term & long-term electricity supply contracts; electricity supply and price risk management; forecasting and analyzing electricity & natural gas market prices; reviewing and designing default electric supply acquisition and rate design; electric utility tariff and rate evaluation; and project evaluation. Dr. Ogur serves as expert witness in state regulatory commission proceedings in matters related to electric default service supply acquisition and rate design, public utility mergers & acquisitions, and consumer protection, as well as in court cases in matters pertaining to consumer protection.

Dr. Ogur holds a Ph.D. in Economics from Northwestern University and a B.A. in Economics from Boğaziçi University in Turkey.
Mr. Porter has about 40 years of experience in renewable energy technologies, state and federal regulation of the electric power industry, and transmission. He leads and performs research on the design, implementation, and evaluation of renewable energy policies; on the grid integration of renewable energy technologies; and on the siting of energy and transmission projects.

Mr. Porter holds an M.A. in Economics from American University and a B.S. in Environmental Studies from Lewis and Clark College.
With almost two decades of experience in the utility industry, Mr. Salcedo is an expert in economic and regulatory analyses, policy evaluations, and technical assessments of utility service arrangements. Mr. Salcedo has led or supported hundreds of utility assessment projects for diverse clients, covering electric, natural gas, water/wastewater, stormwater, and solid waste. At Exeter, he has actively participated in reviewing and analyzing dozens of utility regulatory and rate filings, effectively managing collaborations with expert witnesses for favorable outcomes. Mr. Salcedo provides expert testimony in litigated proceedings before state public utility commissions.

Mr. Salcedo holds an M.S. in Finance from Georgia State University, a B.S. in Economics from Universidad del Rosario in Colombia, and a Graduate Certificate in Public Utility Regulation and Economics from New Mexico State University.

Exeter Consulting Economists

Dr. Estomin’s academic training and over 30 years of professional experience are in the areas of microeconomic applications, industry analysis, econometric modeling, and environmental economics. At Exeter, Dr. Estomin specializes in power supply procurement, utility load forecasting, regulatory policy, options analysis, utility contract negotiation, and issues of competition, antitrust, and damage estimation.

Dr. Estomin holds a Ph.D., M.A., and B.A. in Economics from the University of Maryland. 
Mr. Kahal specializes in energy economics, public utility regulation, and financial analysis. Over the past three decades, his work has encompassed electric utility integrated resource planning, power plant licensing, and a wide range of utility financial issues. In the financial arena, he has conducted numerous cost of capital studies and addressed other financial issues for electric, natural gas, telephone, and water utilities. Mr. Kahal’s work in recent years has shifted to electric utility restructuring, mergers, and competition.

Mr. Kahal holds an M.A. and B.A. in Economics from the University of Maryland.
Mr. Morgan has over 39 years of wide-ranging experience in the utility industry. His areas of expertise include utility revenue requirement issues, financial analysis, cost recovery mechanisms and regulatory policy. His work experience has involved a wide range of utility industry matters including accounting and financial issues, tax issues, cost of service analyses, operations & maintenance budgeting, capital budgeting, and business plan reviews. He has participated in regulatory proceedings involving electric, natural gas, telephone, water and wastewater utilities.

Mr. Morgan holds an M.B.A. in Finance from The George Washington University and a B.B.A. in Accounting from North Carolina Central University. He was previously a licensed C.P.A. in the State of North Carolina.