The Brattle report assesses three potential areas of reform:

• Wholesale market reforms that could improve the cost-effectiveness of generation resource operations and trade across regions;
• Resource planning and competitive investment reforms that seek to improve the cost-effectiveness of resource investment decisions, some of which can also shift investment risks from customers to generator owners; and
• Retail market reforms that would offer customers greater opportunities to select their preferred resource mix or rate structure, including possibly from multiple competitive retail suppliers.

The authors find that South Carolina ratepayers stand to gain substantial benefits from a measured introduction of enhanced regional coordination and market reforms in all three of the above categories. These benefits can be achieved through incremental reforms that follow best practices in the sequencing and introduction of various reforms.

The report was prepared by a Brattle team that included Principals John Tsoukalis, Dr. Kathleen Spees, and Johannes Pfeifenberger; Senior Consultant Andrew Levitt; Research Associates Dr. Andrew W. Thompson and Oleksandr (Sasha) Kuzura; Senior Research Analysts Evan Bennett and Megan Diehl; Research Analysts Son Phan and Ellery Curtis; Electricity Specialist Sylvia Tang; and former Senior Research Analyst Ryan Nelson.

The full report, “Assessment of Potential Market Reforms for South Carolina’s Electricity Sector,” and a summary presentation of the recommendations can be found below.

View Report 

View Summary Presentation 

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In a new report prepared for the Center for Applied Environmental Law and Policy, Brattle economists review the recent history of changes in the US coal generation fleet and explain factors contributing to the decrease in coal-fired generation capacity over the past 20 years. While attributing coal plant retirements to a single driver is challenging, the report identifies key factors that were common contributors to historical and currently announced retirements of coal plants. These factors include decreases in natural gas prices, lower costs to build and operate renewable and storage resources, low growth in electricity consumption, increased costs to operate and maintain coal plants, and federal and state regulations and policies.

The authors also summarize the current state of market fundamentals and regulations affecting the economics of coal plants in the US as well as their near- and medium-term outlook. Notably, the authors explain that provisions in the recently passed Inflation Reduction Act (IRA) that increase the economic attractiveness of clean energy resources have prompted some coal plant owners to re-examine the options for their coal fleet. Using data from planning documents released after the IRA passage, the authors document that after incorporating the IRA incentives in their planning, some coal plant owners find that it is now more economic to retire their coal plants and replace them with clean energy resources.

The full report, “A Review of Coal-Fired Electricity Generation in the US,” is available below. The report is authored by Principal Dr. Metin Celebi, Senior Associate Dr. Long Lam, and Research Analysts Jadon Grove and Natalie Northrup.

View Report

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Principals Richard Caldwell, Dan Harris, and Jack Stirzaker joined a panel discussion, “Full Compensation v. State Aid,” about recent arbitral awards that have raised issues of state aid. The panel discussion also featured Amy Frey, Partner at McDermott Will & Emery, and Lena Sandberg, Partner at Gibson Dunn. The panelists addressed a number of questions, including:

• Can an award distort competition?
• What is the economic logic behind the European Commission’s objections to some recent awards?

Brattle was also a proud sponsor of Paris Arbitration Week.

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“David’s distinctive background as a practicing attorney, private equity investor, and investment banker provides him with a unique perspective among economic and financial consultants on bankruptcy, restructuring, capital raising, and M&A that will be immensely valuable to our clients and broaden the scope of services we offer,” said Brattle Interim President & Principal David J. Hutchings. “He will be a tremendous asset to our growing Bankruptcy & Restructuring practice, and finance-focused team more broadly, and we are thrilled to welcome him to Brattle.”

Mr. Lorry has worked with public and private companies across a diverse range of industries in all stages of mergers and acquisitions. He also has experience in general corporate finance and commercial transactions, financial and operational due diligence, and a wide range of commercial disputes. Representative transactions and matters include acquisitions through bankruptcy court-supervised sale processes, claims and debt trading, debt financing and restructuring, loan administration, business sales, recharacterization and other avoidance actions, and directors and officers (D&O) and fiduciary claims.

“I am excited to transition into consulting with the recognized leading bankruptcy and securities experts at Brattle,” said Mr. Lorry. “I look forward to collaborating with my new colleagues in Washington, DC, New York, and beyond; and drawing on my years of experience to provide valuable insights and litigation support to resolve clients’ complex situations.”

Prior to joining Brattle, Mr. Lorry was a Managing Director and Senior Counsel, advising private equity funds and their portfolio companies. He previously held several senior roles as a private equity investor and with middle-market investment banking firms. He began his career practicing corporate, insolvency, and commercial law with Am Law 100 firms.

To learn more about Mr. Lorry, please see his full bio.

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Four Brattle experts will chair or participate in several sessions throughout the ABA-ILS Annual Conference in New York, NY.

• Principal and Asian Antitrust & Competition Leader Dr. Vanessa Yanhua Zhang and Principal and European Antitrust & Competition Co-Leader Dr. Adina Claici | Proportions & Distortions: Subsidies Around the World | Learn more
• Principal and Asian Antitrust & Competition Leader Dr. Vanessa Yanhua Zhang and Principal and global Antitrust & Competition Leader Dr. Loren Smith | Global Mergers in an Increasingly Divergent Antitrust Climate – The Case of Illumina-Grail | Learn more
• Principal Dr. Christine Polek | The U.S. Chamber of Commerce’s Artificial Intelligence Commission presents Preparing for the Future | Learn more

Brattle is also a proud sponsor of the Welcome Reception on Tuesday, May 2.

Register or learn more

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