Palos Verdes Advisors logoMatt Sheriff

Applications examined
line by line.
Workpapers checked
cell by cell.

Financial analysis and expert testimony on ratemaking, cost recovery, and affordability for utility proceedings in California and beyond. Matt Sheriff, Senior Financial and Regulatory Policy Expert, Palos Verdes Advisors, LLC
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Matt Sheriff

An insider's view of utility regulation

For more than 17 years I worked inside Southern California Edison, first in the Treasurer's Department, building the financial models behind major capital projects, and then in Regulatory Affairs, where I authored and sponsored testimony. I know how a utility builds a revenue requirement, frames a request, and defends it, because I helped do it.

Since 2024 I have put that experience to work for intervenors. I review utility applications, test the assumptions behind them, and prepare testimony that gives the Commission a clear, well-supported alternative.

At Edison, I developed the company's Cost and Rate Tracker. The Commission later required quarterly tracker submissions from California's major utilities in its affordability rulemaking (R.18-07-006, D.22-08-023), and the tool now helps show the rate impacts of pending decisions.

Practice

General rate cases

Review of revenue requirements, forecasts, and return on equity in multi-year GRC proceedings.

Cost recovery applications

Scrutiny of major technology and infrastructure programs, including ERP and billing system replacements and AMI 2.0 deployments.

Affordability and rate impacts

Analysis of what is driving electric rate increases and practical measures to limit future ones.

Expert testimony

Written testimony and support through hearings, briefs, and comments in formal CPUC proceedings.

Subject matter

  • GHG revenue and the Climate Credit
  • ERRA review and forecast
  • Securitization
  • Energy storage
  • Transportation electrification
  • Building decarbonization
  • Renewable levelized cost modeling
  • Cost-of-service ratemaking
  • General rate cases
  • Return on equity
  • Rate design
  • Advanced metering infrastructure (AMI)
  • ERP, billing, and customer information systems
  • Wildfire cost recovery
  • Utility property sales (Section 851)
  • Gas pipeline integrity (TIMP)
  • Energization (SB 410)
  • Infrastructure certification (CPCN)

Proceedings

Testimony or comments submitted (* in process) before the California Public Utilities Commission on behalf of Small Business Utility Advocates (SBUA) and The Utility Reform Network (TURN).

ProceedingUtilityMatterClient
A.26-06-015*SDG&E2028 General Rate CaseSBUA
A.26-05-002*SoCalGas and SDG&ESAP Migration ProgramSBUA, TURN
R.26-04-009*RulemakingRate designSBUA
A.26-03-030*SCEAMI 2.0 meter replacementSBUA, TURN
A.25-12-019*SoCalGasAdvanced Meter Infrastructure ReplacementSBUA
A.25-12-015SCENorth Coast office building sale (Section 851)SBUA
A.25-12-012SDG&ESmart Meter 2.0SBUA, TURN
R.25-07-013*RulemakingClimate CreditSBUA
A.25-06-017Liberty Utilities2020 Mountain View Fire cost recoverySBUA
A.25-05-009PG&E2027 General Rate Case, ROE reconciliationSBUA
A.25-05-009PG&E2027 General Rate CaseTURN
A.25-05-004SoCalGasCustomer Information System replacementSBUA
A.25-04-020SoCalGasTIMP/BA cost recoverySBUA
A.25-04-015SDG&ESB 410 energizationSBUA
A.25-04-004PG&EHinkley Compressor Station CPCNSBUA
A.24-10-014PG&EBilling Modernization InitiativeSBUA

Background

  1. 2024 to present

    Principal Consultant, Palos Verdes Advisors, LLC

    Financial and regulatory policy analysis and expert testimony for intervenors in CPUC proceedings.

  2. 2014 to 2024

    Senior Advisor, Regulatory Affairs, Southern California Edison

    Led work on GHG revenue and Climate Credit reporting, proposing improvements to the templates the Commission and the California Air Resources Board use to track the return of GHG funds to customers. Designed and taught cost-of-service ratemaking courses for Edison's leadership development programs from 2015 to 2018.

  3. 2007 to 2014

    Treasurer's Department, Southern California Edison

    Senior Financial Analyst, then Senior Project Manager. Prepared cost-benefit analyses and workpapers for SCE's largest capital projects, including the SONGS steam generator replacement, the sale of the Four Corners Generating Station, and the SmartConnect (AMI 1.0) meter deployment. Built models for generation asset valuation and the levelized cost of renewable energy, and updated revenue requirement models for tax changes such as the Investment Tax Credit and FERC incentives.

  4. 2004 to 2007

    Corporate finance

    Senior Financial Analyst at Raytheon, with earlier finance roles at KB Home and Mars/Masterfoods.

Education

Contact

If your organization is weighing participation in a CPUC proceeding, or needs an expert to review a utility's request, I'd be glad to talk it through.

My practice centers on California, but I also welcome projects before utility commissions in other states.

matt@sheriffregulatory.com