Publications

Hayward Consulting Group

UTILITY ECONOMIC
REGULATION

Books

Mr. Hayward is the author of over 17 books and professional papers including:

  • Valuing A Water Utility, 3rd. ed., (Infinity Publishing Company, 2013), Available from http://www.buybooksontheweb.com.
  • Water Utility Costs, Values, Rates and Subsidies,
    (Infinity Publishing Company, 2012). Available from http://www.buybooksontheweb.com.
  • The Economic Value of Water Utilitily Services (Infinity Publishing Company, 2009). Available from http://www.buybooksontheweb.com.
  • Valuing an Electric Utility: Theory and Application, (Public Utilities Reports, Inc., 1999), (primary author). 
  • Valuing A Utility Company: What You Absolutely Need To Know, (HCG/National Association of Certified Valuation Analysts, 1997). The training manual has been used by over 50 organizations worldwide including utilities, consulting firms, regulatory agencies, investment banks, law firms, and others.

valuing-water

Valuing a Water Utility

Table of Contents

  • Chapter 1, Introduction
  • Chapter 2, Water Utility Accounting Framework
  • Chapter 3, Water Utility Economic Framework
  • Chapter 4, Water Utility Financial Framework
  • Chapter 5, Analyzing Historical Financial and Operating Data
  • Chapter 6, Estimating Economic Benefits
  • Chapter 7, Capitalization and Discount Rates
  • Chapter 8, Valuation Approaches, Methods, and Procedures
  • Chapter 9, Case Study: Westpac Utilities
  • Chapter 10, Summary

Appendix A, Selected Bibliography; Appendix B, Glossary of Terms; Appendix C, The U.S. Water Utility Industry; Appendix D, The Basics of Utility Economic Regulation & Ratemaking; Appendix E, The York Water Company 2012 Financial Statements; Appendix F, Small Water Utility Issues; Appendix G, Government-Owned Water Utilities; Appendix H, Sample Water Utility Tariff (Outline), The York Water Company; Appendix I, FinMod, (Financial Valuation Model for Water Utilities)

economic-value
The Economic Value of Water
Utility Services

Table of Contents

  • Chapter 1 – Introduction
  • Chapter 2 – Utility Ratemaking: Comparing Cost-of-Service and Value-of-Service
  • Chapter 3 – Microeconomics Applied to Water Utilities
  • Chapter 4 – Water Utility’s Production and Costs (Supply Side)
  • Chapter 5 – Water Utility’s Demand
  • Chapter 6 – Government Policy and Market Failures
  • Chapter 7 – Welfare Economics and Water Utility Pricing
  • Chapter 8  – Water Valuation Concepts, Methods, and Applications
  • Chapter 9 – Case Studies
  • Chapter 10 – Summary and Conclusions


Ò

Water Utility Costs, Values,
Rates And Subsidies

Table of Contents

  • Chapter 1 – Introduction
  • Chapter 2 – Water Utility Costs
  • Chapter 3 – Price Theory
  • Chapter 4 – Water Value
  • Chapter 5 – Water Rates
  • Chapter 6 – Subsidies in the Water Utility Industry
  • Chapter 7 – Economic Analysis in the Water Utility Industry
  • Chapter 8 – The Legal Framework in Ratemaking
  • Chapter 9 – Important Points to Remember
  • Chapter 10 – Recommendations for Utility Regulators

Valuing an Electric Utility:
Theory and Application

valuing-electric

Table of Contents

  • Chapter 1 – Introduction
  • Chapter 2 – The Electric Utility Framework
  • Chapter 3 – Accounting Rules Affecting Electric Utilities
  • Chapter 4 – Changes in the Electric Utility Industry
  • Chapter 5 – Analyzing Historical Financial and Operating Data
  • Chapter 6 – Estimating Future Earnings
  • Chapter 7 – Capitalization/Discount Rates
  • Chapter 8 – Valuation Methodologies
  • Chapter 9 – Valuing Generation Assets
  • Chapter 10 – Utility Valuation Problem
  • Chapter 11 – Case Study: El Paso Electric Company
  • Chapter 12 – International Issues.
  • Appendices: The Basics of Regulation and Ratemaking; Approaches to Pricing Utility Services; Valuation Checklist; PG&E Corporation 1996 Annual Report; Sources of Valuation Data; Glossary; Abbreviations; Bibliography; Index.

Professional Papers

  • “Water Utility Valuation: Beyond the Dartboard Approach,”Business Appraisal Practice, Spring and Summer 2006.
  • “Plant Valuations: Book Value and Beyond,” Public Utilities Fortnightly, September 1, 1999.
  • “Valuing Water Utilities: Opportunities and Challenges,” Water, (National Association of Water Companies,), Vol. 37, No. 4., (winter 1996).
  • “The Energy Act for Montenegro: A Primer (Economic Regulation/Cost of Service Concepts), USAID,” 2002.
  • “Confidential Business Plan,” prepared for Teplo-Vratimov (Czech Republic), under a USAID-funded project, 1995. (A new company was formed that was a joint venture between a city and a steel company to provide district-heating services.)

Software – Click here

For more information contact:

Hayward Consulting Group
David L. Hayward, Principal
1047 Hygeia Ave, Leucadia, CA 92024
Phone (760) 637-1243
Email: DavidLHayward@cs.com