NARUC
Moderator Tricia Pridemore is NARUC President and a Commissioner at the Georgia Public Service Commission. Mark Birk is President of Ameren Missouri. Calvin Butler is the CEO of Exelon. Steve Fleishman is Senior Analyst – Utilities/Clean Energy at Wolfe Research. Michael Haggarty is Moody’s Ratings Associate Managing Director of Power/Utilities-Americas. Teresa Ho Kim is U.S. Equity Research Managing Director at J.P. Morgan. Michael Moody is NASUCA President and Assistant Attorney General for the State of Michigan.
The panel "The Road to Capital Markets: The Intersection of Regulatory & Financial Impactspanel" at the NARUC Winter Policy Summit 2025 shared insights on the capital market outlook, given the need for utilities to access capital to fund their capital expenditure plans. Panelists highlighted ways to improve collaboration, partnership, and information sharing among regulators and investors.
Panelists included NARUC President and moderator Tricia Pridemore, Ameren Missouri President Mark Birk, Exelon CEO Calvin Butler, Wolfe Research Senior Analyst — Utilities/Clean Energy Steve Fleishman, Moody's Ratings Associate Managing Director of Power/Utilities-Americas Michael Haggarty, J.P. Morgan U.S. Equity Research Managing Director Teresa Ho Kim, and NASUCA President and Michigan Assistant Attorney General Michael Moody.
NARUC President and moderator Tricia Pridemore: We're going to discuss the road to capital markets in the intersection of regulatory and financial impacts. This is an important session to me, because I recognize as an economic regulator what happens here with these panelists directly affects affordability and safety and liability of my system that I'm charged with regulating.
It was important to us at NARUC to pull together people from Wall Street to explain the complexities of everything that's before us as state regulatory bodies, our friend with consumer advocates, as well as two utility CEOs.