David S. Milne, Jr., founder of DMA, was employed by The Brooklyn Union Gas Company (BU) and its subsidiary, Gas Energy Inc. (GEI) for 33 years. He retired as GEI's president in 1998 when the subsidiary was sold to Calpine Corp. as part of BU's merger with another utility to form KeySpan Corp. As president of GEI, Mr. Milne personally directed the development of three major cogeneration facilities, the purchase of another, as well as the development of GEI's extensive and profitable fuel management business and its international power and pipeline consulting activities. Since his retirement from GEI, Mr. Milne has provided power development consulting services in Mexico, working on a variety of projects in the 100MW to 500MW range. From his earlier positions at BU, Mr. Milne has extensive experience in the marketing of natural gas for air conditioning, power generation as well as more conventional applications. He received his BS from Clarkson College of Technology in 1965 and MS from the Polytechnic Institute of brooklyn in 1970.



Michael L. Herz has spent 20 years in cogeneration, independent power and energy management businesses. Prior to his association with DMA, he spent nine years as a Principal of MLH Consulting Services. Over that period, Mr. Herz worked on the behalf of constructors, developers, hosts, equipment manufacturers, and utility companies. He possesses experience in all aspects of energy project development and execution with specific expertise in quantitative analysis and project management. Mr. Herz has extensive familiarity with a broad range of electric generation technologies and their implementation. Before entering consulting, Mr. Herz served as the Vice President - Engineering for Cogenic a packaged cogeneration, distributed generation and demand side management equipment manufacturer. He received a BSME degree from Boston University in 1980.

Theodore Spar, PE is a former officer of The Brooklyn Union Gas Company (BU) with over 35 years of service. As Vice President of its Diversification Activities Division his responsibilities included overseeing the subsidiaries which handled independent power generation and fuel management businesses. Mr. Spar has broad knowledge in fuel management contracts including supply, transportation, and balancing agreements. Prior to working in the non-regulated areas of BU, Mr. Spar served as VP of Customer Service and VP of Distribution division of the company responsible for all pipeline construction and maintenance. Mr. Spar has extensive experience in the development and financing of oil and gas projects including natural gas processing plants and oil refineries in Canada. Mr. Spar earned bachelors and masters degrees from Cornell University in Civil Engineering and Business Administration respectively. He has served on various AGA technical and customer committees and is a registered Professional Engineer in the State of New York.


Nancy Chafetz, CPA has spent over 10 years handling financial analysis in the energy industry. In a Senior Analyst role for DMA she has constructed complex financial models to evaluate independent power projects, advised on project and pricing structures, identified and analyzed tax and currency exchange issues, performed sensitivity analyses and risk assessments, and developed and maintained forecast databases. Prior to this Ms. Chafetz served as an analyst for Gas Energy Inc., American Ref-Fuel, and CRSS Capital. She earned both an MBA (1989) and BS (1986) from the University of Texas at Austin.


Howard A. Fichtel, CPA has over 30 years of experience as an accountant, controller, auditor, and a senior advisor on Accounting Issues and Regulations. During his career he has had hands on responsibility for maintaining the accounting records of several Brooklyn Union and KeySpan subsidiary companies, participated in due diligence reviews of potential acquisitions, and been responsible for the design and implementation of annual audit plans. Prior to retiring from KeySpan after 24 years of service, Mr. Fichtel was employed by Peat Marwick, Mitchell and Co. He is a veteran who served as a Lt. JG in the U.S. Navy, and has a BS in Accounting from Pennsylvania State University.

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