Electricity companies face the prospect of rising costs due to increases in the costs of fuel and capital equipment as well as additional environmental regulations, notably those related to climate change. To address these issues from an economic perspective, industry experts convened at this EUCI conference in Chicago on 30 September - 1 October 2008. NERA Senior Vice President and Environment Group Head Dr. David Harrison focused on what electricity companies can do to get ready for climate change legislation and regulation. His presentation was entitled "Climate Change and Electricity Prices: What Should Electricity Companies Do?" Dr. Harrison noted five key questions senior management should address: (1) What climate change policies might be developed? (2) How will those policies affect my company? (3) What should we do now? (4) What internal changes should we make? and (5) What external activities should we undertake? Dr. Harrison noted how the modeling framework that NERA has developed -- the NERA Carbon Financial Impacts Model --helps companies to address these questions. This model has been used to assist numerous electricity companies as well as companies and sectors in cement, oil and gas, refining, petrochemicals, pulp and paper, and other sectors. He provided illustrations of how this model has been used and the insights that can be developed. He concluded by noting that responding to potential climate regulation is an ongoing need rather than a one-time effort.