Consultants

Jakki Woods

Senior Manager

Ms. Woods began with Regulatory Economics Group in January 2018. Prior to joining REG, Ms. Woods worked for nearly five years as an accountant in public practice, working primarily as a tax accountant. She is a Certified Public Accountant (CPA) licensed in Virginia. As a senior manager, Ms. Woods provides expertise in regulatory accounting, cost-of-service, and analytical tasks for regulated oil pipelines. She has provided expert testimony on accounting tax matters before the Federal Energy Regulatory Commission (FERC) and California Public Utilities Commission. She also regularly provides accounting and Form 6 training at conferences.

Relevant Experience

REGULATORY ACCOUNTING

  • Prepared FERC Form No. 6 for numerous oil pipeline companies.
  • Prepared Page 700 calculations for numerous oil pipeline companies.
  • Advised regulated oil pipeline companies on appropriate USofA accounting standards.
  • Prepared depreciation studies utilizing survivor curves in compliance with FERC requirements.

LITIGATION

  • Assisted in the preparation of cost-of-service testimony for multiple cases.c
  • Reviewed and verified accuracy of calculation prepared by shipper witnesses and FERC staff.
  • Assisted legal counsel in the development of cross-examination script and exhibits.
  • Reviewed FERC precedent in support of cost-of-service testimony.
  • Filed testimony on the subject of accumulated deferred income taxes before the FERC.
  • Filed testimony on the subject of Generally Accepted Accounting Principles and segment reporting before the California Public Utilities Commission.

COST-OF-SERVICE

  • Assisted in the preparation of cost-of-service analysis.
  • Developed historical carrier property data.
  • Reviewed and verified oil pipeline accounting data.

RETURN ON EQUITY

  • Assisted Association of Oil Pipe Lines in reviewing the 2019 FERC notice of inquiry regarding possible modifications to the return on equity (ROE) methodology.
  • Prepared analysis of various ROE methodologies going back several years.
  • Developed an ROE Excel model to implement the ROE methodology outlined in Opinions 569 and 569-B.

FERC INDEX

  • Reviewed shipper and FERC staff analysis in support of the 2020 FERC Index Adder calculation.
  • Prepared analysis to support the 2020 FERC Index Adder on behalf of the designated carriers.
  • Assisted in preparation of the affidavit for the Designated Carriers’ 2020 FERC Index Adder calculation.

TAX AND ACCOUNTING

  • Prepared Federal and State income tax returns for individuals, corporations, partnerships, trusts, and nonprofits
  • Compiled financial statements including recording, classifying, and interpreting financial data
  • Research on tax issues and technical matters
  • Assisted with 401k and Financial Statement Audits

PRESENTATIONS

Ms. Woods has presented at the Liquid Energy Pipeline Association (LEPA) Annual Business Conference since 2019. She has presented on the topics of asset capitalization, regulatory accounting, and accounting for non-accountants. She has also presented at the LEPA Form 6 Conference since 2022 on various Form 6 topics.

Education and Credentials

  • Certified Public Accountant (CPA), Commonwealth of Virginia (License No. 47119) 
  • GONZAGA UNIVERSITY, M.S. Accounting: Taxation (2011) 
  • SOUTHERN OREGON UNIVERSITY, B.S. Accounting (2009)