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Key Personnel

John Antonuk

Robert Stright

Charles H. King

Lawrence Koppelman

Randall Vickroy

Donald T. Spangenberg, Jr.

John B. Adger, Jr.

Alan J. Salzberg

Christine Kozlosky

Dennis Kalbarczyk

Mark Lautenschlager

Phillip S. Teumim

Yavuz Arik

Dennis Kalbarczyk, the principal of Utility Rate Resources, has spent most of his long career in the public utility regulatory industry. Dennis has been analyzing or auditing utility financial and accounting, operations, and rate information for nearly 30 years. He has extensive experience in the energy, water and wastewater industries. He is a former public service commission auditor and rate analyst, he has also been employed in the rates section of a major mid-Atlantic electricity distribution utility, and he has served as a consultant to a number of utilities in preparation of accounting and financial information for use in rate proceedings. Dennis brings to Liberty a strong background in a number of accounting, controls, and ratemaking areas: 

  • Financial and accounting controls
  • Continuing property records
  • Revenue requirements analysis
  • Cost-of service and rate design
  • Fuel procurement auditing
  • Affiliate transaction testing
  • Utility capital investments, depreciation, and amortization
  • Revenue and operations and maintenance expense analysis.

Dennis holds a bachelor of science degree in accounting from Husson College, Maine.

Project Highlights

Dennis served as the leader of Liberty’s review of accounting and controls issues in the recently completed focused audit of NUI and its utility and non-utility affiliates. He performed detailed examinations of allegations regarding a lack of sufficient controls, inappropriate commingling of utility and non-utility cash resources, favoritism to an energy trading affiliate in gas purchase and sale transactions, assessment of the significance of numerous adverse findings and conclusions by internal and external auditors, and the process of settling balances for goods and services transferred among a holding company, central service providers, utility operations, and a wide variety of non-utility ventures. 

Dennis also served as Liberty’s task leader for the rate accounting elements of Liberty’s recently completed audit of the transmission and distribution revenue requirements of the Commonwealth Edison Company for the Illinois Commerce Commission.  He focused on an examination of property accounting to support the company’s ratebase claims and he participated on the team that examined changes in utility capital expenditures over the time period during which Commonwealth Edison was experiencing significant external financial pressures due to operations other than electricity delivery service.  He submitted testimony in that proceeding before the Illinois Commerce Commission. 

Dennis managed a Liberty analysis designed to establish a proper interruptible water rate for a utility electricity generator served by a major Midwestern water utility. He submitted testimony in that proceeding and his analysis produced the first water utility-industry interruptible tariff before that commission. His work was instrumental in producing a settlement between the generator and the water company, eventually proving acceptable to the intervening parties and ultimately the public service commission. 

Dennis was employed by a major utility rates consulting firm and is a principal in a utility consulting firm, where he prepares financial statements and presents testimony for rate and rate-related cases and for applications of certificates of public convenience.  He has testified on behalf of utilities, municipalities, authorities, and interveners before administrative and judicial court bodies. 

Dennis began his career at the Pennsylvania Public Utility Commission, where he participated and testified in a variety of matters related to operations audits, major electric rate case revenue requirements, compliance with various commission regulations, energy cost, coal and gas contracts, and affiliated service contracts. He played a key role in developing the commission's first set of regulations on fuel procurement policy and procedures, tariffs and procedures on energy cost rates for electric companies and gas cost rates for gas companies, and designed computerized procedures for electric utilities to report fuel purchases.

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