The Stakeholders' Golden Rule




Ray Giuliani has enjoyed a distinguished career for over 40 years in the financial and energy sectors. With an educational background spanning from accounting to engineering, he has received degrees from Stanford and Georgia Tech including an MBA, a BS in engineering, and a CPA. There are few people in the world with the qualifications, education and experience available to address the current state of energy and financial affairs in our country.

Ray’s career has given him a unique extensive background in the oversight of restructured electricity and natural gas industry operations.

Ray began his career in 1975 as a Certified Public Accountant at KPMG working in the banking, insurance and manufacturing industries.  In 1978, he joined Energy Management Associates Inc., a small boutique software and consulting firm serving the electric utility industry, to manage all their finance and administrative affairs.  Ray moved quickly through the ranks to the position of Chief Financial Officer in 1980.

At Energy Management Associates, Ray played a leading role in expanding the firm into a premier multi-product and advisory services provider in the U.S., Canada, Australia and Great Britain.  In 1983, he assumed an operating role in addition to his CFO responsibilities, leading the firm’s natural gas industry practice during the early years of natural gas industry deregulation. Ray developed the firm’s primary natural gas distribution company product, SENDOUT, and took it to market dominance in the U.S. and Canada.  During 1991-1992, Ray added to his efforts working with the firm’s founders to negotiate and close the merger of Energy Management Associates into the much larger outsourcing business of Electronic Data Systems.

In 1993, Ray moved on to a new entrepreneurial venture as co-founder of Exchange Development Corporation, LLC focused on daily physical energy commodity trading operations including market financial credit, clearing and settlement operations.  He worked with infrastructure and financing providers such as CS First Boston, Reuters America and the Chicago Clearinghouse Corporation.  The venture struggled in a market dominated by ENRON energy trading and Ray and his partner eventually shut down the operation.

In 1996, Ray joined IBM Global Services where he worked in the Energy Group as a Solutions Executive developing service offerings in the deregulated electric power markets worldwide.

From 2001 to August 2008, Ray made major contributions to the development of new electric industry RTOs/ISOs. These are systems which coordinate, control, and monitor multi-state electric grids.  Ray joined the GridSouth RTO start up effort in the Carolinas as CFO and then moved to ERCOT in Texas serving as their Chief of Market Operations.  At ERCOT, Ray was a leader in transforming the newly created Texas deregulated retail electricity market into a world class operation.  ERCOT is now the only successful fully deregulated retail electricity market in the U.S. as well as the most robust wind energy market in the U.S.

Since 2008, Ray has worked as a consultant across the energy industry.  His most extensive engagement was with PJM to aid in their efforts to enhance their market operations to incorporate emerging activities such as renewable energy sources, demand-side management, energy efficiency and SMART Grid implementations.  Ray also worked with two wind electric power developers to get the projects out of bogged down ISO red tape and into operation.  Ray’s most recent work was with the Texas Wind Energy Transmission LLC where he served as interim CFO. He provided accounting supervision and construction debt financing compliance functions during their transition between full-time CFOs.

Click here to view Ray’s full resume, education, and accomplishments.