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Principal Veronica Irastorza will give the closing speech at the 2022 National Petroleum Convention: The Future of Energy Is Today.

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The Calvert Cliffs nuclear plant produces the majority of Maryland’s clean energy and offers a number of material economic benefits. In the report, the authors present and analyze several future scenarios to assess the respective implications of each scenario in terms of emissions, customer costs, and economic impacts. If the Calvert Cliffs nuclear plant were to close, significantly less emission-free power would be generated, resulting in more fossil generation and emissions. The loss of supply would likely cause wholesale power prices in Maryland and throughout the surrounding region to rise.

The authors concluded that existing nuclear power and renewable energy should be viewed as complementary clean technologies, rather than competitors or substitutes for one another, and that maintaining existing nuclear plants – including the Calvert Cliffs plant – can help facilitate the transition to a decarbonized energy future.

The full report, “Environmental and Economic Impacts of the Calvert Cliffs Nuclear Plant,” was prepared by Principals Dr. Dean Murphy and Dr. Mark Berkman, Electricity Specialist Oleksandr (Sasha) Kuzura, and Research Analysts Kate Peters, Shivangi Pant, and Xander Bartone.

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Brattle Principal Veronica Irastorza will join a webinar to discuss how the current conflict in Ukraine is impacting energy policy and geopolitics in Mexico.

The event will be held in Spanish with an English translation.

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“Toby is a welcome addition to Brattle’s Electricity group and our firm more broadly,” said Brattle President & Principal David L. Sunding. “With his regulatory expertise and breadth of experience working with electric and natural gas utilities, he will add depth to our firm and be a vital asset to clients.”

Mr. Bishop’s expertise extends to strategic, regulatory, financial, and transactional matters for electric and natural gas utilities, natural gas pipelines and storage developers, and independent energy project developers. He has worked on federal and state rate case proceedings, valuations for ad valorem tax disputes, utility municipalization efforts, contractual disputes, purchase and sales transactions, regulatory strategy and policy matters, and competitive and market power concerns.

He has provided expert testimony and other filings in over 50 administrative and civil proceedings in the US and Canada, including before the Federal Energy Regulatory Commission (FERC), the Canada Energy Regulator (CER), and state and provincial regulatory agencies.

“I am thrilled to join the respected team of economists at The Brattle Group, especially during this pivotal time for the energy industry,” Mr. Bishop said. “I look forward to helping the firm continue its success and collaborating on regulatory economics and finance matters.”

Previously, Mr. Bishop was a Senior Vice President at an economic consultancy, and he also held positions at two management consultancies.

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

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“These talented individuals provide in-depth expertise to a vast array of clients on matters related to financial services, energy, tax, and more,” shared Brattle President & Principal David Sunding. “In addition, they have made exemplary contributions to mentoring and developing their colleagues, and truly demonstrate the exceptional leadership pipeline we are fortunate to have at the firm.”

Our new Principals:

• Hollie Mason | Practice Leader: Broker-Dealers & Financial Services | Chicago
  An attorney with more than 15 years of experience in the financial industry, Ms. Mason provides expert testimony and consulting services concerning securities litigation and enforcement matters. She has deep knowledge of Financial Industry Regulatory Authority (FINRA) and Securities & Exchange Commission (SEC) rules.
• David McKnight | New York
  Mr. McKnight has over 20 years of experience providing expert testimony and consulting services in matters pertaining to mass torts, securities, finance, valuation, and bankruptcy. In mass tort matters, he has worked with liability forecasts, insurance coverage, and discounted cash flows.
• Albert Metz | New York
  Dr. Metz is a securities and finance expert with deep experience in credit analysis, financial modeling, asset pricing, market efficiency, and event studies. He has consulted on asset pricing, antitrust, mergers and acquisitions, market manipulation, collusion, fixed income securities, and various debt derivatives.
• Christine Polek | Boston
  Ms. Polek serves as a consulting and testifying expert in complex litigation requiring the application of economic, financial, and statistical analysis to legal and regulatory issues – with a focus on valuation, tax controversy, and labor and employment.
• Akarsh Sheilendranath | Boston
  Mr. Sheilendranath is an energy economist with a unique blend of expertise in wholesale electricity markets, electric transmission, and regulatory corporate finance. He specializes in transmission policy, utility investment strategy and planning, large-scale renewable integration, and cost-benefit assessments.
• Anul Thapa | Boston
  Mr. Thapa has over 12 years of experience applying economic and finance principles in complex oil and gas-related litigation, arbitration, and regulatory proceedings. His experience in commercial disputes includes damages estimation, valuation, and pricing related to energy assets and contracts.
• Mike Tolleth | New York
  Mr. Tolleth specializes in the economic analysis of energy markets, with expertise in financial modeling and valuation of energy assets, contracts, and businesses. He supports clients in litigation and arbitration matters and provides expert testimony related to cost of service, rate design, cost of capital, regulatory policy, long-run marginal cost pricing, and market power.

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The post Veronica Irastorza Discusses Mexico’s Energy Sector Reform in Q&A with <i>Mexico Business News</i> appeared first on Brattle.

The webinar will address the current landscape for government and market participants working within Mexico’s energy sector. Panelists will discuss recent legislation affecting the various energy sectors, development and production of oil and gas resources, importation and domestic manufacturing of refined products, generation and distribution of power, commercial and treaty disputes that might arise, and more.

For more information or to register, please visit the event website.

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On November 10, 2014, the Federal Energy Regulatory Commission (FERC) issued an order affirming the initial decision grated on February 15, 2013 in the matter of San Diego Gas & Elec. Co. v. Sellers of Energy and Ancillary Servs. In the initial decision, the Administrative Law Judge (ALJ) found that over 34,000 market transactions and energy exchanges that occurred during the 2000-2001 energy crisis constituted tariff violations and exhibited evidence of market manipulation. The ALJ relied on testimony provided by Brattle principals Peter Fox-Penner and Gary Taylor that power suppliers MPS Merchant Services, Shell Energy North America, and Koch Energy Trading, Inc. engaged in tariff violations that affected market prices.

The FERC order confirms the ALJ’s prior ruling that sellers in the California energy market engaged in the following types of manipulative behavior: Anomalous Bidding (economic withholding), False Exports, False Load Scheduling, and sale of ancillary services without market-based rate authorization. As part of its ruling, the ALJ examined whether there was a consistent pattern of market activities indicating that a seller engaged in a behavior that rendered the transactions unjustifiable as a legitimate business practices to determine whether the transactions executed constituted tariff violations. Brattle testimony provided voluminous documentary evidence of trading schemes intended to evade California Power Exchange and Independent System Operator (ISO) tariff requirements. Screens developed by Brattle witnesses were relied upon by the FERC to assess the volume and frequency of such behavior. Brattle experts also constructed a price effect analysis to evaluate whether or not manipulative transactions had the effect of increasing the market clearing price.

Additionally, the FERC order awarded power purchaser San Diego Gas & Electric a refund of $2,845,024 for a forward market transaction that was found to be not just and reasonable by the Commission. The Commission confirmed the ALJ ruling that the forward market transaction is not entitled to the Mobile-Sierra protection because it was very similar to OOM spot transactions, which were made by California’s ISO outside the ISO single price auction market within 24 hours or less of delivery, and served to stabilize the grid when supply was insufficient to meet demand.

The post Brattle Economists Contribute to FERC Ruling Supporting Findings of Manipulative Behavior by Power Suppliers During the California Energy Crisis appeared first on Brattle.