General Unit Description: The Office of the Chief Economist advises the board on policy issues and financial matters affecting regulated utilities. It is responsible for analyzing and recommending action on cost-of-capital issues in traditional rate cases, evaluating utility requests to sell securities and assessing utility merger and acquisition proposals. The office works with other divisions to evaluate how proposed alternatives to traditional rate base/rate-of-return regulation could impact ratepayers. It also evaluates a utility’s financial structure and ability to fulfill regulatory obligations. The Office also conducts and assists with benefit-cost analysis and evaluation of clean energy policy and projects and Board rulemaking.
Project Description: The Office of the Economist is seeking a summer intern. The intern will have the opportunity to learn and develop an understanding of the role of the office in utility regulation.
Office of the Economist Intern What you will do:
· Report to the Chief Economist at the NJBPU and work day-to-day with research economists and analysts on assigned tasks.
· Work closely with Division Staff to assist the Board on a broad spectrum of economic, financial, strategic and regulatory issues.
· Assist staff to review and analyze how utilities are deploying capital and maintaining credit metrics.
· Perform research, data collection and analysis on assigned industry sectors.
· Research and summarize financial reports on or by New Jersey regulated utilities.
· Review regulatory and technical academic journals and perform data scrubs of various state and federal websites.
· As assigned, attend public hearings, and meetings with both internal partners and external interested parties, including regulated entities.
What you will learn:
· Methods of research and analysis to support high-level public decision making.
· The foundations of utility regulation and finance; i.e., the nature of necessary monopolies.
· Gain knowledge of rate-of-return, capital financing, and capitalization structure of large investor-owned utilities across the water, energy, telecommunications, and clean energy sectors.
· First-hand participation in docket-based regulatory process.
· Fundamentals of benefit-cost analysis and risk evaluation.
What we’d like to see:
· Proficiency in Microsoft Office suite, and familiarity with statistical analysis software.
· Knowledge of microeconomics and the basics of corporate finance.
· Strong writing and editing skills.
· Ability to contribute in a team environment and work independently as needed.
Education/Experience: Recent graduates or current students with at least 2-3 years of college experience in accounting, economics, finance, business management, or engineering from an accredited college or university. NJBPU will work with an educational institution’s cooperative education office to enable students to obtain college credit upon request.
Note: We invite members of all diverse communities to join our workforce as we endeavor to best serve New Jerseyans from every background. We believe that by welcoming differences, encouraging new ideas and views, listening to and learning from each other, and providing opportunities for professional enrichment we are better able to serve those around us.
Estimated Project Duration and Work Schedule: Summer session, 15–20 hours per week. The BPU requires that interns work a minimum of 8 weeks. In addition, the Summer 2021 internship program will run from June 7, 2021 through August 20, 2021. An extension through the end of August and/or into the Fall 2021 semester will be taken into consideration.