Utility Finance for Non-Financial Professionals
An introduction to co-op and utility finance, ownership structures, ratemaking, and cost recovery — designed for non-financial staff, board members, and other professionals who work with or oversee an electric utility or cooperative, without requiring an accounting background.
- 7 modules · self-paced video
- Interactive knowledge-check exercises
- No accounting background required
- Scenario-based knowledge checks
- NASBA-compliant final exam (10 questions)
- Certificate of completion (1.60 CPE)
A Clear-Eyed Introduction to Utility Finance
Board members, city council members, commissioners, and non-financial staff are regularly asked to make decisions about electric utilities and cooperatives — approving rates, authorizing capital budgets, evaluating financial reports — without a background in utility finance or accounting.
This course closes that gap. You'll start with why electric utilities are regulated monopolies and how the regulatory compact works, then compare investor-owned utilities, electric cooperatives, and municipal utilities. From there, you'll learn how a utility earns its return through the revenue requirement, how capital investment becomes rate base and drives customer rates, and what a governing body member actually votes on.
No accounting background is required. This course is built for the decision-maker's perspective, so you can ask better questions and evaluate what's put in front of you with confidence.
- Board members and directors of electric utilities and cooperatives
- City council members and municipal utility commissioners
- Non-financial staff who work with or support a utility or cooperative
- New employees needing a foundation in utility finance
- Anyone who oversees a utility without an accounting background
Russ Hissom, CPA
Russ Hissom, CPA is a principal of UtilityEducation.com, providing on-demand professional education in FERC, RUS, FASB, and GASB accounting, finance, and ratemaking for electric utilities and cooperatives. With over 35 years of hands-on industry experience, he brings real-world expertise to a modern learning platform trusted by more than 1,000 professionals.
What You'll Master
See the Course in Action
From the regulatory compact through ownership structures, revenue requirements, and capital investment — this course gives non-financial staff and board members a clear foundation in how electric utilities and cooperatives earn revenue and recover costs.
Course Curriculum
Why electricity is treated as a regulated monopoly, how the regulatory compact works, and the fundamental difference between a market-priced product and a rate-regulated one. Free Preview
- 1.1 The Regulated Utility Model
- 1.2 Course Roadmap
- 1.3 Course Learning Objectives
- 1.4 Detailed Course Guide
A side-by-side comparison of investor-owned utilities (IOUs), electric cooperatives, and municipal/public power utilities — who owns them, who governs them, how profits or margins flow, and what makes each model distinct in its accountability structure.
- 2.1 Ownership Structures — IOU vs. Cooperative vs. Municipal
- 2.2 Exercise — Capitalize the Costs?
Introduces the revenue requirement — the total amount a utility or cooperative must collect from customers to cover costs and earn an allowed return — and connects its components to what customers see on their bills.
- 3.1 How a Utility or Co-op Earns Its Return
Brings it all together from the decision-maker's perspective. What does a board member, city council member, or commissioner actually vote on, and what fiduciary responsibilities attach to that role?
- 4.1 The Governing Body's Role
- 4.2 Exercise — Practical Applications
Explains how infrastructure investment — power lines, substations, transformers, generation — becomes rate base, and why capital spending drives rate increases.
- 5.1 Capital Investment and the Customer
A worked, applied walkthrough that ties the regulatory, ownership, revenue, governance, and capital concepts from Modules 1–5 together in a single example.
- 6.1 Applied Financial Walkthrough
- 6.2 Review Questions
A recap of what the course covered, your next steps, the final exam for CPE credit, and a short course evaluation. Your certificate of completion is available immediately upon passing.
- 7.1 What We Covered — and What Comes Next
- 7.2 Final Exam for CPE Credits
- 7.3 Course Evaluation
- 7.4 Your Next Steps
This course provides educational content on utility finance and ratemaking; it is not legal, accounting, or regulatory advice. Consult your own advisors for guidance specific to your utility or cooperative.
Frequently Asked Questions
Related Courses
Get a Clear Foundation in Utility Finance
Join board members, council members, and non-financial staff building a clear, confident understanding of how electric utilities and cooperatives earn revenue and recover costs.
Utility Accounting and Rates Specialists, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org.
Requests for refunds must be made in writing within 30 days of purchasing the course. No refunds will be granted after the qualified assessment has been completed. For any concerns, please contact us at 608-628-4020 or at russ.hissom@utilityeducation.com.
Course materials are provided for informational and educational purposes only. They do not constitute legal, accounting, or professional advice. © 2026 Utility Accounting & Rates Specialists, LLC. All rights reserved.