SCEG OATT Formula Transmission Rate Filing.pdf - SCANA ...

20091231-0037 FERC PDF (Unofficia1) 12/29/2009
Direct Testimony of Jimmy Addison
Docket ERIO· -000
Page I ofI9
Exhibit No. SCE- I
1 I.
INTRODUCTION
AND OUALIFICATIONS
2 Q.
PLEASE STATE YOUR NAME, TITLE AND BUSINESS ADDRESS.
3 A.
4
My name is Jimmy E. Addison. I am Senior Vice President and Chief Financial Officer
of South Carolina Electric & Gas Company ("SCE&G" or the "Company"), on whose
5
behalf I am testifying in this proceeding.
I am also Senior Vice President and Chief
6
7
Financial Officer of SCANA Corporation ("SCANA"), which is the parent company of
SCE&G. My business address is 100 SCANA Parkway, Cayce, South Carolina 29033.
8 Q.
9
BRIEFLY OUTLINE YOUR RESPONSIBILITIES AS SENIOR VICE
PRESIDENT AND CHIEF FINANCIAL OFFICER.
10 A.
11
12
13
14
15
I provide leadership, direction and technical expertise related to treasury and finance
processes and functions. I am responsible for monitoring the Company's present and
prospective financial condition; for formulating strategies to ensure that the Company can
meet its capital requirements at the lowest reasonable cost; and for managing all
accounting and financial matters related to the Company. I am responsible for
recommending and implementing the financing required to achieve targeted capital
16
structure objectives.
In that regard, I meet regularly with members of the financial
17
community, including Wall Street analysts and credit rating agency personnel who follow
18
the electric utility industry in general and SCANAlSCE&G specifically.
In these
19
20
21
meetings we discuss their perceptions and concerns about the Company, its financial and
business position, its long term strategy, capital plans, the capital markets and the utility
industry generally. We also discuss the various risk factors that the Company faces as