In the News: Recent Developments

Rebecca Klein is Principal of Klein Energy, LLC, an energy and water consulting company based in Austin, Texas and a member of the Saber Partners Advisory Board. Her clients include international and domestic companies focused on penetrating or expanding in North America and whose needs concern regulatory, commercial, financial, strategic, and/or government affairs expertise. Over the last twenty-five years she has worked in Washington, DC and in Texas in the energy, water and national security arenas.

At Saber Partners, Ms. Klein has provided expert testimony on investor-owned utility securitization before the Florida Public Service Commission.  She assisted the commission in the implementation of nuclear asset and storm recovery bonds ($1.294 billion nuclear asset recovery bonds for Duke Energy Florida Project Finance, LLC and $652 million of storm recovery bonds for Florida Power & Light Company (sometimes also called “rate reduction bonds” (RRB).)

Prior to starting her company in 2006, Ms. Klein was the Chairman of the Public Utility Commission of Texas (PUCT) during which time she oversaw the restructuring of the State’s $36 billion electric power industry.  In particular, she also managed the PUCT’s first use of securitization by Reliant Energy (now CenterPoint Energy) and Oncor Electric Delivery that was an essential component of the electricity market deregulation.  More than $2 billion of “transition bonds” were sold through a process that included active commission oversight of the structuring, marketing and pricing of the bonds and additional customer protections.  Her leadership in this area fundamentally changed how such securitization bonds were issued around the country to protect customer interests.

Ms Klein also worked extensively with other state public utility commissioners and Federal regulators on issues related to power, telecommunications and critical infrastructure protection. From 2007 to 2013, Ms. Klein was Chairman and Vice Chairman of the Lower Colorado River Authority, the largest river authority in Texas. During her tenure she helped shepherd advances in the way LCRA implements water management, water permitting and water rate methods. While at the LCRA, she interacted extensively with Federal and State authorities to enhance funding levels and to seek regulatory efficiency. Following the World Trade Center bombings in 2001, Ms. Klein was appointed to the Texas Homeland Defense Task Force which was tasked to identify and mitigate security vulnerabilities for the State across power, water and telecommunications assets.

Ms. Klein worked in both government and the private sector in Washington, DC. She first arrived to the Nation’s Capital in 1988 as one of twelve people selected nationally to the Congressional Hispanic Caucus Fellowship Program during which time she worked for the Secretary of the Air Force’s Legislative Affairs Office. From 1989-1992, she worked in the White House in the Office of Presidential Personnel where she assisted in recruiting and recommending sub-cabinet level presidential appointees in the national security arena of government. She served as Associate Director at the U.S. Trade Development Agency, from 1992-1993, overseeing the agency’s accounts in multi-national development banks. From 1996-1997, Ms. Klein worked at the American Enterprise Institute undertaking legal research in current telecommunications issues. She was then hired as a Senior Fellow at Georgetown University’s McDonough School of Business. Ms. Klein also worked for Bearing Point Consulting, spearheading the start-up of their Government Affairs & Industry Relations Office.

Presently, Ms. Klein sits on the Board of Directors of Avista Corporation, a publicly traded utility headquartered in Spokane, WA. Other Boards on which she currently sits include the for-profit company, National Institute for Renewable Energy, and the non-profit, Texas Energy Poverty Research Institute. She is also and Advisory Member of Aiqueous, a water technology company. She has previously served as a Diversity Advisory Committee Member for the Federal Communications Commission.

Ms. Klein retired as a Lieutenant Colonel in the U.S. Air Force Reserve in January 2015. She is a veteran of Desert Storm where she served in Saudi Arabia. She received her academic training at Stanford University (B.A., Biology); Georgetown University (M.A., National Security Studies); and St. Mary’s Law School (J.D.). She is fluent in Spanish having grown up partly in Venezuela and Mexico. She is a native of San Antonio, TX.