Earl M. Robinson, CDP Principal

Mr. Robinson has over 40 years experience in the utility field and provides services relative to depreciation and cost-based valuation issues. He has testified before numerous regulatory agencies including state, federal, and property tax agencies throughout the U.S., Canada, and the Caribbean.

He co-authored “An Introduction to Net Salvage of Public Utility Plant”. Additionally, Mr. Robinson has made presentations to indus- try organizations on the subject of depreciation studies, as well as depreciated replacement cost to property tax appraiser staffs. EXPERIENCE

1977 to Date wastewater utilities. In conjunction with the provi- sion of these services, Mr. Robinson has testified on AUS Consultants. Various positions - currently Prin- many occasions before numerous regulatory agen- cipal. Mr. Robinson prepares studies and coordinated cies (including state, federal, and property tax agen- analyses related to valuation, depreciation, original cies throughout the U.S., Canada, and the Caribbean in cost, trended original cost, cost of service, bill analy- support of the many studies completed for his diverse ses, as well as analyses of expenses, revenues and in- list of clients. In addition he has negotiated deprecia- come for various municipal and an extensive number tion rates with various state regulatory agencies, the of investor-owned electric, gas, water, wastewater, FCC Staff, and the FERC taff. Mr. Robinson has also and telecommunications utilities. participated in several FCC, state, company three-way depreciation re-prescription meetings. Studies prepared have required the review of compa- ny records, inspection of property, the preparation of With regard to valuation matters, Mr. Robinson has property inventories and original costs, preparation been involved with the development of cost indices and review of mortality studies, selection of proper from the earliest part of his career through the pres- service lives, life characteristics and analysis of sal- ent. During his earlier years, he assisted and/or devel- vage, and analysis of the capital recovery impact of oped and utilized cost indices to prepare reproduction changing depreciation methods. cost and related fair value determinations for various of the firms’ regulated utility clients. Subsequently, he During his many years of experience, Mr. Robinson attained extensive experience in preparing custom in- has been involved in and/or responsible for an exten- dices, replacement cost, and depreciated replacement sive quantity of comprehensive depreciation studies. cost studies, having been responsible for preparing Numerous early years’ depreciation studies were pre- many such cost studies relative to various clients pared manually without the convenience of computer within the telecommunications industry during the software systems. Subsequently, during the mid/late past twenty (20) plus year period. 1970’s, Mr. Robinson became responsible for the com- pletion of the many depreciation studies performed He is also responsible for developing and publishing for the firm’s clients. As part of that responsibility, the firm’s AUS Telephone Plant Index (successor to Mr. Robinson was involved in not only performing the the Handy Whitman and C A Turner Telephone Con- studies, but also in assisting AUS Consultants’ MIS struction Cost Index), a reproduction cost index sub- department in developing and testing various comput- scribed to by various operating companies, regulatory er depreciation models. The studies performed by Mr. agencies, and consultants. Robinson or under his direction have included all types of utilities, including electric, gas, water, wastewater, Mr. Robinson is a founding member and past Presi- and telecommunications. During Mr. Robinson’s ca- dent of the Society of Depreciation Professionals, a reer he has been involved in the preparation of more professional organization that provides depreciation than a hundred depreciation related projects. training, as well as provides a forum for the discus- sion of depreciation issues. He is also a member of A Certified Depreciation Professional (CDP), Mr. Rob- the American Gas Association (AGA) Accounting Ser- inson provides services to the firm’s clients with re- vices Committee and past chairman of the Statistics, gard to depreciation and cost based valuation issues. Bibliography, Court Regulatory Sub-Committee of the With more than forty (40) years’ experience, he began AGA Depreciation Committee. As a member of that his career as a staff member of the Plant Accounting organization, he co-authored a publication entitled “An Department of United Telephone (now Sprint) East- Introduction to Net Salvage of Public Utility Plant”. Mr. ern Group Headquarters subsequent to which he has Robinson has also completed various presentations spent the past thirty-five (35) plus years, as a consul- on the subject of depreciation studies as well as de- tant, preparing depreciation and valuation studies for preciated replacement cost to industry organizations gas, pipeline, electric, telecommunications, water, and and property tax appraiser staffs.

Earl M. Robinson PROFESSIONAL QUALIFICATIONS PAGE 2 EXPERIENCE CONTINUED...

1975 to 1977 tories for original cost determination, depreciation and salvage studies to determine proper annual deprecia- Gannett, Fleming, Corddry & Carpenter, Inc. Valuation tion rates and trended original cost studies used in the Analyst in the Valuation Division where his duties and determination of utility rate base. responsibilities included the classifications, analyses and coordination of data in the development of de- 1966 to 1971 preciation rates for various companies including tele- phone, gas, water and electric utilities. United Telephone Company of Pennsylvania (now Sprint/United Telephone Company of PA). As a staff 1971 to 1975 member of the Plant Accounting Department, his duties and responsibilities included various plant ac- Weber, Fick & Wilson (Acquired by AUS Consultants), counting ledgers, unitization of location and mass Public Utility Analyst engaged in the unitization and property accounts, as well as special studies related to subsequent application of costs in the pricing of inven- insurance and tax valuations of utility plant in service.

CLIENTS SERVED

Testimony: Jurisdictions testified in include Alberta, Arizona, California, Connecticut, Delaware, District of Columbia, FERC, Florida, Indiana, , Iowa, Kansas, , Maryland, Massachusetts, Montana, New Hampshire, New Jersey, New Mexico, New York, , North Dakota, Oklahoma, Nevada, Pennsylvania, Rhode Island, , , Utah, and Virgin Islands. Extensive expert testimony has been presented on the subjects including Depreciation, Capital Recovery, Plant in Service Measures of Value, Depreciated Reproduc- tion Cost, and Depreciated Replacement Cost. Numerous additional depreciation studies have been completed and filed in various different jurisdictions for which testimony appearances were not required. General Clientele: Arthur Andersen Pricewaterhouse Coopers Electric Utility Consultants, Inc. Standard & Poors Ernst & Young

Wastewater: California - American Water Company Monarch Utilities, Inc. Citizens Sewer – Arizona New Jersey Water Company Hawaii Water Service Company-Wastewater Sewer Districts Kona Wastewater Palm Coast Utility Corporation Pukalani Wastewater Company Pinelands Sewer Company Wailoloa Resort Wastewater Wynnewood Sewer Company Illinois-American Company – Wastewater

Earl M. Robinson PROFESSIONAL QUALIFICATIONS PAGE 3 CLIENTS CONTINUED...

Cable Television: Cable Television Consortium Storer Broadcasting Company (DE, MD, MN)

Electric: Atlantic City Electric d/b/a Conectiv Power Delivery New York State Electric and Gas Corp Nantahala Power and Light Company Northern Indiana Public Service Co Borough of Butler - Electric Dept. Pennsylvania Power Company Conectiv Power Delivery Philadelphia Electric Company Consolidated Edison Co of NY Potomac Electric Power Company Consolidated Hydro, Inc. Maryland Delmarva Power and Light Company Washington D.C. Delaware Progress Energy - Carolinas Maryland Progress Energy - Florida, Inc Duquesne Light Company Public Service Company of New Mexico Hershey Electric Company Public Service Electric & Gas Company Kentucky Utilities Rochester Gas and Electric Corporation Lockhart Power Company Vermont Electric Power, Inc Louisville Gas & Electric Co. - Elec. Div. Wellsboro Electric Company Montana – Dakota Utilities Co – Elec. Div Gas: ATCO Gas North Carolina Gas Service ATCO Pipelines North Penn Gas Atlanta Gas Light Company Northern Indiana Public Service Co. Bay State Gas Company Northern Utilities, Inc.-Maine C & T Enterprises, Inc. Northern Utilities, Inc.-New Hampshire Valley Cities Waverly Gas Company Oklahoma Natural Gas Company Canadian Western Natural Pacific Gas & Electric Company Gas Company Limited Paiute Pipeline Cascade Natural Gas Corporation Pennsylvania Gas & Water Company Citizens Gas & Coke Utility PG Energy Inc. Columbia Gas of Pennsylvania, Inc. Pennsylvania and Southern Gas Company Connecticut Natural Gas Corporation Valley Cities Division Consolidated Edison Co of New York Waverly Division East Ohio Gas Pipeline Industry Group Elkton Gas Service Providence Gas Company Granite State Gas Transmission, Inc. Public Service Electric & Gas Co Great Plains Natural Gas Co. Public Service Company of New Mexico Kansas Gas Service Roanoke Gas Company Louisville Gas & Electric Co. - Gas Division Rochester Gas and Electric Corporation Montana Dakota Utilities - Gas Division Saxonburg Heat & Light Company National Fuel Gas Distr. Corp., NY Sierra Pacific Power Co/NV Energy National Fuel Gas Supply Southern Connecticut Gas Company New York State Electric & Gas Corp Southwest Gas Corporation NICOR Gas Company T.W. Phillips Gas & Oil Company Northeast Heat & Light Company Williams Companies

Earl M. Robinson PROFESSIONAL QUALIFICATIONS PAGE 4 CLIENTS CONTINUED...

Telecommunications: Ace Telephone Association - IA & MN Pacific Bell Air Touch Communications Pactel Cellular AirTouch Paging Paging Industry Study Group Pennsylvania, Inc. Paging Network, Inc. AT&T-Advance Solutions, Inc-CA Quaker State Telephone Company BellSouth Telecommunications Qwest Communications Corporation Buffalo Valley Telephone Company Qwest – Arizona Cellular Industry Study Group Qwest – Iowa AT&T Wireless Qwest -- Montana BellSouth Communications Qwest -- Washington GTE Mobilnet RCA Global Communications, Inc. Brighthouse Networks-Citrus County SBC Ameritech Corporation Cable & Wireless SBC -- Arkansas Chenango & Unadilla Telephone Company SBC -- Kansas Cingular Wireless SBC -- Michigan Cingular Wireless – California SBC -- Missouri Cingular Wireless – Houston SBC -- Ohio Cingular Wireless - Massachusetts SBC -- Oklahoma Commonwealth Telephone Company SBC – Wisconsin CTC of Michigan SBC – West – California CTC of SBC – West – Nevada Denver & Ephrata Telephone & Telegraph Co. Skytel D & E Network Southwestern Bell Telephone Company D & E System Standard Telephone Company Embarq Florida, Inc. Telecommunications d’Haiti Empire Telephone Corporation Telephone Utilities of Pennsylvania Illinois Consolidated Telephone Co. United Telephone Company of New Jersey Jamestown Telephone Corporation USA Mobile Communications Leesport Telephone Company Wireless Lewisberry Telephone Company Verizon – California Los Angeles Cellular Telephone Co. Verizon – Kentucky MCI International, Inc. Verizon – Massachusetts MCI Telecommunications Corp. Verizon -- Montana MFS Communication Company, Inc. Verizon – South Carolina Marianna & Scenery Hill Tel. Co. Verizon -- Utah Mid State Telephone Company Verizon -- Washington Mobile Comm Verizon – Wyoming Motorola, Inc. Verizon – Total Company Nevada Bell Virgin Islands Telephone Corporation New Jersey Telephone Company Williams Communication The North-Eastern Pennsylvania Tel. Co. WilTel, Inc.

Steam: Consolidated Edison Co of New York

Earl M. Robinson PROFESSIONAL QUALIFICATIONS PAGE 5 CLIENTS CONTINUED...

Water: Arizona Water Company Monarch Utilities, Inc. York Water Company Artesian Water Company Monmouth Consolidated Water Company Bethlehem Authority – Water New Haven Water Company California-American Water Company New Jersey Water Company Citizens Water – California, Arizona New Mexico-American Water Company, Inc. California Water Service Company Newtown Artesian Water Company City of Auburn New York-American Water Company City of Fairfax Ohio-American Water Company Clinton Water Company Palm Coast Utility Corporation Columbia Water Company Pennichuck East Utility Commonwealth Water Company Pennichuck Water Works Consumers New Jersey Water Company Pennsylvania-American Water Company Dauphin Consolidated Water Supply Co. Pennsylvania Gas & Water Company Dominguez Water Company Pennsylvania Water Company Elizabethville Water Company Erie & Sayre Divisions Garden State Water Company Philadelphia Suburban Water Company Hackensack Water Company Pinelands Water Company Hawaii Water Service Public Service Water Company Ka’anapali Wate Riverton Consolidated Water Company Kona Water Roaring Creek Water Company Waikoloa Village Water Rock Springs Water Company Waikoloa Resort Water Shenango Valley Water Company Waikoloa Resort Irrigation Southern California Water Company Hershey Water Company Spring Valley Water Company Illinois-American Water Company Spring Valley Water Company Indianapolis Water Company Tidewater Utilities, Inc. Indian Rock Water Company United Water - Delaware Iowa-American Water Company United Water - New Jersey Keystone Water Company United Water - Pennsylvania Manufacturers Water Company United Water - Toms River Masury Water Company United Water - Virginia Middlesex Water Company Virginia American Water Company Monarch Utilities, Inc. Western Pennsylvania Water Company Regulatory and Governmental: Regulatory Commission of Alaska Borough of Media Water Works Alaska Electric Light & Power Company City of New Orleans, LA Interior Telephone Company, Inc Delaware Public Service Commission Fairbanks Water & Wastewater Delaware River Port Authority Mukluk Telephone Company, Inc Diamond State Telephone Company TDX North Slope Generating Kansas Corporation Commission United KUC, Inc Southwest Bell United Utilities, Inc. Public Service Comm. of Nevada Arizona Corporation Commission Nevada Bell Mountain States Telephone & Telegraph Town of Waterford, CT Southwest Gas Corporation Northeast Utilities Baltimore County, MD Washington, D.C. - PSC Bensalem Township - Water C&P Telephone Company Bethlehem Authority - Water Potomac Electric Power Company Borough of Butler, NJ

Earl M. Robinson PROFESSIONAL QUALIFICATIONS PAGE 6 AFFILIATIONS

American Water Works Association

American Gas Association

American Railway Engineering Association

Pennsylvania Gas Association

Pennsylvania Municipal Authorities Association

Member AGA Accounting Services Committee

Society of Depreciation Professionals Founding Member Chairman Coordinating and Membership Committees Treasurer President (previous) EDUCATION

Graduate of Harrisburg Area Community College with an Associate of Arts Degree in Accounting, and further studies at University Center of Harrisburg. Successfully completed numerous programs related to service life and salvage estimation, forecasting, and evaluation sponsored by Depreciation Programs, Inc. at Calvin College Campus, Grand Rapids, Michigan. In addition, Mr. Robinson successfully completed cost of service seminars sponsored by the American Water Works Association. He received his CDP (Certified Depreciation Profession- al) designation by exam during 1996. PUBLICATIONS

“An Introduction to Net Salvage of Public Utility Plant”, AGA/EEI Depreciation Accounting Committee, Contributing Author 1989

“Replacement Cost and Service Life Studies”, Journal of Property Tax Management, Fall 1994, Volume 6, Issue 2

Please read more publications by Mr. Robinson at www.ausconsultants.com/publications

Earl M. Robinson PROFESSIONAL QUALIFICATIONS PAGE 7 SPEAKING ENGAGEMENTS

“Depreciated Replacement Cost”, Institute of Proper- Committee, Scottsdale, Arizona - December 9, 2003 ty Taxation - 18th Annual Conference, San Francisco, CA “Property Tax: Use of Replacement Cost in the Ap- praisal of Telecommunications Companies”, Oklaho- “RCNLD Issues for Utilities”, The National Association ma State Board of Equalization Public Service Valu- of Railroad & Public Utilities Tax Representative, 1997 ation Guidelines Subcommittee – Oklahoma City, OK Annual Conference, North Lake Tahoe, NV – Feb 5, 2004

“Useful Service Lives of Cellular Industry Assets”, “Net Salvage Issues In Rate Cases”, AGA Accounting State of Florida, Department of Revenue, Industry/ Services Committee/EEI Property Accounting & Valu- Government Task Force (April 1997) ation Committee, San Antonio, Texas - May 17, 2004

“Appraisal and Valuation Issues Associated with “Current Depreciation Issues: Point-Counterpoint”, Technology Changes within the Wireless AGA Accounting Services Committee/EEI Property Accounting & Valuation Committee, Savannah, Geor- Industry”, 30th Annual Wichita Program - Appraisal gia – November 14, 2006 for Ad Valorem Taxation of Communications, Energy, and Transportation Program, Wichita State Universi- “Depreciation & Cost of Removal”, AGA Accounting ty - July 30-August 3, 2000 Services Committee/EEI Property Accounting & Valu- ation Committee, Tucson, Arizona – October 24, 2007 “Physical/Functional Obsolescence, Residual Values/ Floors (Net Salvage)”, 32th Annual Wichita Program ”Whole Life versus Remaining Life”, AGA Account- - Appraisal for Ad Valorem Taxation of Communica- ing Services Committee/EEI Property Accounting & tions, Energy, and Transportation Program Wichita Valuation Committee, San Francisco, California – May State University - July 28-August 1, 2002 21, 2008

“Depreciation Study Preparation”, AGA Accounting “Obsolescence-Measuring the Impact for Industries Services Committee/EEI Property Accounting & Val- Experiencing Change”“Depreciation & Cost of Remov- uation Committee, Lake Tahoe, Nevada - October 28, al”, IPT 32nd Annual Conference, Atlanta, , 2002 June 23, 2008

“Use of Replacement Cost to Value High Tech Equip- “An Alternative to IFRS Unit Depreciation”, AGA Ac- ment” Southeastern Association of Tax Administra- counting Services Committee/EEI Property Account- tors, 53rd. Annual Conference, Savannah, Georgia ing & Valuation Committee, Baltimore, Maryland – - July 14-July 16, 2003 May 18, 2009

“Property Tax: Use of Replacement Cost in the Ap- “Alternative to IFRS Unit Depreciation”, Society of praisal of Telecommunications Companies”, Western Depreciation Professionals, Albuquerque, New Mexi- States Association of Tax Representatives (WSATR), co, – October 5, 2009 WSATA 2003 Annual Meeting, Austin, TX - Sept. 9, 2003

“Replacement Cost & Depreciated Replacement Cost “Depreciation Training”, Regulatory Commission of Presentation”, Southwestern Bell Telephone Compa- Alaska (RCA), Anchorage, Alaska, October 26 & 28, ny – Arkansas PSC – Tax Division - August, 2003 2010

“Valuation of Assets”, AGA Accounting Services Committee/EEI Property Accounting & Valuation

Earl M. Robinson PROFESSIONAL QUALIFICATIONS PAGE 8 SPEAKING ENGAGEMENTS CONTINUED...

“Physical Depreciation – The Uses and Abuses of “Depreciation – The Last 25 Years & More”, Society of Iowa Curves and Other Errors”, IPT Property Tax Depreciation Professionals, Atlanta, Georgia, – Sep- Symposium, Austin, Texas, November 2, 2010 tember 20, 2011

“Preparing To Be A Depreciation Witness”, AGA Ac- “A Roadmap to Replacement Cost”, 42nd Annual counting Services Committee/EEI Property Account- Wichita Program - Appraisal for Ad Valorem Taxa- ing & Valuation Committee, New Orleans, Louisiana tion of Communications, Energy, and Transportation – May 19, 2011 Program, Wichita State University - July 29-August 2, 2012

DEPRECIATION TRAINING INSTRUCTOR-CLASSES:

Regulatory Commission of Alaska, Anchorage, AK, Oct. 2012

EUCI Depreciation Training, Houston, TX, Nov. 8-9, 2012

EUCI Depreciation Training, Denver, CO, May 6-7, 2013

EUCI Depreciation Training, Chicago, IL, Nov. 14-15, 2013

EUCI Depreciation Training, Pasadena, IL, Apr. 22-23, 2014

Earl M. Robinson PROFESSIONAL QUALIFICATIONS PAGE 9