The Virginia State Corporation Commission and Judge Mark Christie hosted a group of VCU School of Business finance undergraduate students for a mock regulatory hearing on April 27.
The hearing focused on the proper determination of the required return on common equity and the appropriate capital structure, the most controversial issues in most regulatory proceedings, for a hypothetical large Mid-Atlantic electric utility that is part of a holding company structure. Two teams of students each presented their direct case, with each cross-examining and rebutting the other.
The intense learning experience drew on all areas of the student's training in finance, economics, mathematics, accounting and statistics. Judge Mark Christie, current chair of the Virginia State Corporation Commission, presided.