Rachael A. Eubanks was appointed by Governor Rick Snyder to the Michigan Public Service Commission on Aug. 1, 2016. Governor Snyder appointed her to a new term March 17, 2017. Eubanks stepped down from her position on the Commission after she was appointed State Treasurer by Gov. Gretchen Whitmer on Dec. 21, 2018.
Prior to her joining the MPSC, Commissioner Eubanks worked in public finance for 13 years, 10 of those years with Robert W. Baird & Co. Inc., where she rose to the position of director. During her time at Baird, Eubanks completed more than $22 billion in bond financings, primarily for the State of Michigan, Michigan State Building Authority, Michigan Finance Authority, and other state agencies. She served as financial advisor on a $185 million issuance for the Public Lighting Authority of Detroit that financed a complete overhaul of the city’s street lighting system amidst its bankruptcy proceedings.
Commissioner Eubanks was a member of the National Association of Regulatory Utility Commissioners (NARUC) and served on the Energy Resources and the Environment Committee. The committee serves as a venue for State regulators to discuss ways to provide utility customers with environmentally sustainable and affordable energy services, with a particular focus on energy efficiency, environmental protection, renewable and distributed resources, consumers protection, low-income weatherization and assistance, and public interest research and development. In 2018, she was appointed as Chair to NARUC’s Subcommittee on Supplier and Workforce Diversity, which is focused on promoting opportunities for women, minority and service-disabled veteran-owned businesses in utility supply markets. She also served on the Subcommittee on Education and Research, and held a position on the NARUC Board of Directors.
Commissioner Eubanks represented Michigan on the board of the Organization of PJM States, was elected to the Executive Committee as Vice-President, and also served on the Personnel Committee.
She holds a bachelor’s degree in economics from the University of Michigan.