Skip to Main Content

Gerald A. Taylor

Mr. Taylor's areas of expertise include contract and market risks and incentives, antitrust and regulatory economics, and transition markets.

His consulting activities focus upon the petroleum, electric power, and transportation industries. Mr. Taylor provides assistance to clients in complex litigation and in developing responses to changes and challenges in markets and regulatory environments.

Testimony

State of California, ex rel. Bill Lockyer, Attorney General of the State of California, Docket No. EL02-71-057 Complainant, v. British Columbia Power Exchange Corporation, Coral Power, LLC, Dynegy Power marketing, Inc., Enron Power Marketing, Inc., Mirant Americas Energy Marketing, LP, Reliant Energy Services, Inc., Williams Energy Marketing & Trading Company, All Other Public Utility Sellers of Energy and Ancillary Services to the California Energy Resources Scheduling Division of the California Department of Water Resources, and All other Public Utility Sellers of Energy and Ancillary Services into Markets Operated by the California Power Exchange and California Independent System Operator. Summary of Prepared Rebuttal Testimony on behalf of the California Parties, March 14, 2017. 

March 2017

State of California, ex rel. Bill Lockyer, Attorney General of the State of California, Docket No. EL02-71-057 Complainant, v. British Columbia Power Exchange Corporation, Coral Power, LLC, Dynegy Power marketing, Inc., Enron Power Marketing, Inc., Mirant Americas Energy Marketing, LP, Reliant Energy Services, Inc., Williams Energy Marketing & Trading Company, All Other Public Utility Sellers of Energy and Ancillary Services to the California Energy Resources Scheduling Division of the California Department of Water Resources, and All other Public Utility Sellers of Energy and Ancillary Services into Markets Operated by the California Power Exchange and California Independent System Operator. Prepared Direct Testimony on behalf of the California Parties, Part 1, Background of the California Energy Crisis; Prepared Direct Testimony on behalf of California Parties, Part 2, November 22, 2016. 

November 2016

Public Utilities Commission of the State of California v. Sellers of Long-term Contracts to the California Department of Water Resources. California Electricity Oversight Board v. Sellers of Energy and Capacity under Long-term Contracts with the California Department of Water Resources. Docket Nos. EL02-60-007 and EL02-62-006 (consolidated), Prepared Rebuttal Testimony on behalf of the California Parties, October 6, 2015. 

October 2015

Public Utilities Commission of the State of California v. Sellers of Long-term Contracts to the California Department of Water Resources. California Electricity Oversight Board v. Sellers of Energy and Capacity under Long-term Contracts with the California Department of Water Resources. Docket Nos. EL02-60-007 and EL02-62-006 (consolidated), Prepared Direct Testimony on behalf of the California Parties, Part 1, Background on the California Crisis and Its Impact on CDWR’s Entry into Long-Term Contracts with Shell and Iberdrola; Part 2, Shell and Iberdrola Long Term Contracts: Impact of Manipulation on Negotiations and Evidence of Burden, May 19, 2015.

May 2015

San Diego Gas and Electric Co. v. Sellers of Energy and Ancillary Services into Markets Operated by the California Independent System Operator and the California Power Exchange, Docket No. EL00-95-248. Prepared Direct and Rebuttal Testimony of Gerald Taylor on Behalf of California Parties to address: 1) which market practices and behaviors constitute a violation of the tehn-0current CAISO, CalPX, and individual seller’s tariffs and Commission orders; and 2) whether any of the sellers named as respondents in this proceeding engaged in those tariff violations. Declaration to calculate and present overcharges attributable to the remaining Respondents in this proceeding in a manner consistent with the Commission's Opinion No. 536, Declaration: March 2015. 

March 2015

Puget Sound Energy, Inc. v. All Jurisdictional Sellers of Energy and/or Capacity at Wholesale into Electric Energy and/or Capacity Markets in the Pacific Northwest, Including Parties to the Western System Power Pool Agreement. Docket No. EL01-10-085, Prepared Direct and Rebuttal Testimony of Gerald Taylor on Behalf of the California Attorney General and Southern California Edison regarding supplier activities in the Pacific Northwest involving manipulation or fraud, duress and bad faith affecting the negotiation of bilateral contracts during the period 1/17/01 – 6/20/01 and the application of the Mobile-Sierra doctrine to the disputed contracts. Rebuttal: March 12, 2013. 

March 2013

Puget Sound Energy, Inc. v. All Jurisdictional Sellers of Energy and/or Capacity at Wholesale into Electric Energy and/or Capacity Markets in the Pacific Northwest, Including Parties to the Western System Power Pool Agreement. Docket No. EL01-10-085, Prepared Direct and Rebuttal Testimony of Gerald Taylor on Behalf of the California Attorney General and Southern California Edison regarding supplier activities in the Pacific Northwest involving manipulation or fraud, duress and bad faith affecting the negotiation of bilateral contracts during the period 1/17/01 – 6/20/01 and the application of the Mobile-Sierra doctrine to the disputed contracts. Direct: September 21, 2012.

September 2012

San Diego Gas and Electric Co. v. Sellers of Energy and Ancillary Services into Markets Operated by the California Independent System Operator and the California Power Exchange, Docket No. EL00-95-248. Prepared Direct and Rebuttal Testimony of Gerald Taylor on Behalf of California Parties to address: 1) which market practices and behaviors constitute a violation of the tehn-0current CAISO, CalPX, and individual seller’s tariffs and Commission orders; and 2) whether any of the sellers named as respondents in this proceeding engaged in those tariff violations. Rebuttal: March 2, 2012. 

March 2012

San Diego Gas and Electric Co. v. Sellers of Energy and Ancillary Services into Markets Operated by the California Independent System Operator and the California Power Exchange, Docket No. EL00-95-248. Prepared Direct and Rebuttal Testimony of Gerald Taylor on Behalf of California Parties to address: 1) which market practices and behaviors constitute a violation of the tehn-0current CAISO, CalPX, and individual seller’s tariffs and Commission orders; and 2) whether any of the sellers named as respondents in this proceeding engaged in those tariff violations. Direct: August 25, 2011. 

August 2011

State of California, ex rel. Bill Lockyer, Attorney General of the State of California v. British Columbia Power Exchange Corporation, Coral Power, LLC, Dynegy Power Marketing Inc., Enron Power Marketing, Inc., Mirant Americas Energy Marketing, LP, Reliant Energy Services, Inc., Williams Energy Marketing Trading Company, All Other Public Utility Sellers of Energy and Ancillary Services to the California Energy Resources Scheduling Division of the California Department of Water Resources, and All Other Public Utility Sellers and Energy and Ancillary Services into Markets Operated by the California Power Exchange and California Independent System Operator. Prepared Direct and Rebuttal Testimony of Gerald Taylor on Behalf of the California Parties, Docket No. EL02-71-000, assessing whether improper or untimely filing of quarterly transaction reports by sellers who are respondents in the proceeding masked an accumulation of market power such that the market rates were unjust and unreasonable. Rebuttal: December 17, 2009.

December 2009

State of California, ex rel. Bill Lockyer, Attorney General of the State of California v. British Columbia Power Exchange Corporation, Coral Power, LLC, Dynegy Power Marketing Inc., Enron Power Marketing, Inc., Mirant Americas Energy Marketing, LP, Reliant Energy Services, Inc., Williams Energy Marketing Trading Company, All Other Public Utility Sellers of Energy and Ancillary Services to the California Energy Resources Scheduling Division of the California Department of Water Resources, and All Other Public Utility Sellers and Energy and Ancillary Services into Markets Operated by the California Power Exchange and California Independent System Operator. Prepared Direct and Rebuttal Testimony of Gerald Taylor on Behalf of the California Parties, Docket No. EL02-71-000, assessing whether improper or untimely filing of quarterly transaction reports by sellers who are respondents in the proceeding masked an accumulation of market power such that the market rates were unjust and unreasonable. Direct: July 1, 2009. 

July 2009

San Diego Gas & Electric Company v. Sellers of Energy and Ancillary Services; Investigation of Practices of the California Independent System Operator and the California Power Exchange, State of California, ex rel. Bill Lockyer, Attorney General v. British Columbia Power Exchange Corp., et al; Puget Sound Energy, Inc. v. Sellers of Energy and Ancillary Services; People of the State of California, ex rel.; Edmund G. Brown Jr., Attorney General, et al. v. Powerex Corp. (f/k/a British Columbia Power Exchange Corp.), et al. Docket No. EL00-95 et al., EL00-98-000, et al., EL02-71-000, et al., EL01-10-000, et al., EL09-56-000. Prepared Direct Testimony of Dr. Peter Fox-Penner and Gerald A. Taylor on Behalf of the California Parties, which analyzes seller behavior in markets operated by the California Independent System Operator, the California Power Exchange and in bilateral markets in which CERS procured power on behalf of the IOUs, in order to draw conclusions concerning gaming and market manipulation and the existence of undue market power between May 1, 2000 to June 20, 2001; May 22, 2009.

May 2009

People of the State of California, ex rel. Edmund G. Brown Jr., Attorney General of the State of California v. Powerex Corp. (f/k/a British Columbia Power Exchange Corp.), Sempra Energy Trading, LLC (f/k/a Sempra Energy Trading Corp.), Allegheny Energy Supply Company, LLC, TransAlta Energy Marketing (US), Inc., Public Service Company of New Mexico, MIECO, Inc., Shell Energy North America (U.S.), L.P. (successor by merger to Coral Power, LLC), Merrill Lynch Capital Services, TransCanada Energy Ltd. (f/k/a TransCanada Power Corp.), Commerce Energy Corp., (f/k/a/ Commonwealth Energy Corp.), Nevada Power Company, Tucson Electric Power Company, American Electric Power Service Corp., Comision Federal de Electricidad, Sierra Pacific Power Company, Sierra Pacific Industries, Avista Corp. (f/k/a Washington Water Power Company), Avista Energy, Inc., and Sempra Energy Solutions LLC, Docket No. EL09-56-000; Prepared Direct Testimony of Gerald Taylor on Behalf of The Attorney General of the State of California, involving emergency purchases the State authorized the California Energy Resources Scheduling division of the California Department of Water Resources (“CERS”) to make when the California investor-owned utilities (IOUs) could not purchase the power needed to serve their customers. Direct: May 22, 2009. 

May 2009

Prepared Direct and Supplemental Testimony of Gerald Taylor on Behalf of the California Parties, Docket No. EL03-180-000, to comment upon the filing of Enron Power Marketing, Inc., Enron Energy Services, Inc. and Public Service Co. of New Mexico in response to the Commission's Order to Show Cause Concerning the Use of Partnerships, Alliances or Other Arrangements to engage in Gaming and/or Anomalous Market Behavior. Supplemental: January 31, 2005. 

January 2005

Public Service Company of New Mexico, Docket No. EL03-200-000; Enron Power Marketing, Inc. and Enron Energy Services Inc., Docket No. EL03-180-000; Enron Power Marketing, Inc. and Enron Energy Services Inc., Docket No.EL03-154-000; El Paso Electric Company, Enron Power Marketing, Inc., and Enron Capital and Trade Resources Corporation, Docket No. EL02-113-000; Portland General Electric Company, Docket No. EL02-114-007; Enron Power Marketing, Inc., Docket No. EL02-115-008 (Consolidated); San Diego Gas & Electric Company, v. Sellers of Energy and Ancillary Services Into Markets Operated by the California Independent System Operator Corporation and the California Power Exchange, Docket Nos. EL00-95-000, EL00-95-045, EL00-95-075. Investigation of Practices of the California Independent System Operator and the California Power Exchange. Docket Nos., EL00-98-000, EL00-98-042, EL00-98-063, Fact Finding Investigation Into the Possible Manipulation of Electric and Natural Gas Prices. Declaration of Gerald A. Taylor on Behalf of the California Parties, October 4, 2004. 

October 2004

Prepared Direct and Supplemental Testimony of Gerald Taylor on Behalf of the California Parties, Docket No. EL03-180-000, to comment upon the filing of Enron Power Marketing, Inc., Enron Energy Services, Inc. and Public Service Co. of New Mexico in response to the Commission's Order to Show Cause Concerning the Use of Partnerships, Alliances or Other Arrangements to engage in Gaming and/or Anomalous Market Behavior. Direct: February 27, 2004. 

February 2004

Morgan Stanley Capital Group, Inc., Federal Energy Regulatory Commission, Docket Nos. EL03-160-000, EL03-195-000, September 26, 2003; City of Redding, California, Federal Energy Regulatory Commission, Docket Nos. EL03-49-000, EL03-183-000; Coral Power, L.L.C., Federal Energy Regulatory Commission, Docket Nos. EL03-151-000, EL03-186-000. Direct Testimony of Gerald A. Taylor, regarding the inappropriateness of proposed settlements of allegations of manipulation and misconduct in California electric power markets, September 26, 2003 and December 4, 2003. 

September - December 2003

San Diego Gas and Electric Co. v. Sellers of Energy and Ancillary Services Into Markets Operated by the California Independent System Operator and the California Power Exchange, Dockets Nos. E00-95-045, EL0098-042. Prepared Testimony of Gerald A. Taylor on behalf of the California Parties (a group of purchases and governmental entities including the California Attorney General) regarding the cost of natural gas fuel for electric generation in the western markets. Direct: May 17, 2003. 

May 2003

In re Industrial Silicon Antitrust Litigation, Western District of Pennsylvania. Litigation support for defendant Globe Metallurgical Company including testimony critiquing damage estimates offered by plaintiffs expert witnesses. Class action jury trial resulted in verdict for defendant, 1998.

1998
Publications
Book
Market Power and Market Manipulation in Energy Markets: From the California Crisis to the Present
April 2015
Gerald A. Taylor, Shaun D. Ledgerwood, Romkaew P. Broehm, Peter S. Fox-Penner, Gerald A. Taylor, Shaun D. Ledgerwood, Peter S. Fox-Penner, and Romkaew P. Broehm
Published by PUR Inc.
Report
Understanding Crude Oil and Product Markets
September 2014
Published by the American Petroleum Institute
Report
Comments of Dr. Romkaew Broehm and Mr. Gerald A. Taylor to the Federal Energy Regulatory Commission Regarding Market-Based Rates for Wholesale Sales of Electric Energy, Capacity and Ancillary Services by Public Utilities (Docket No. RM14-14-000)
September 2014
Prepared for the Federal Energy Regulatory Commission
Report
Losing Money to Increase Profits: A Proposed Framework for Defining Market Manipulation
March 2011
Published by The Brattle Group, Inc.
Report
Comments of Dr. Daniel Arthur, Dr. Romkaew P. Broehm, and Mr. Gerald A. Taylor to the Commodity Futures Trading Commission Regarding the Notice of Proposed Rulemaking on the Prohibition of Market Manipulation, 17 CFR Part 180
January 2011
Prepared for the Commodity Futures Trading Commission
Newsletter
When Sparks Fly: Economic Issues in Complex Energy Contract Litigation
2009
Published by The Brattle Group, Inc.
Report
Australian Greenhouse Gas Emissions Trading: Comments by The Brattle Group
March 06, 2007
Published by The Brattle Group, Inc.
Presentation
Developments and Risks: What's Happening Along the LNG Supply Chain?
December 04, 2006
Steven H. Levine, Elizabeth Miller, and Gerald A. Taylor
Presented at the LNG Development in the Northeast Conference
Article
The Regulation of Competition in Wholesale Electric Power Markets
October 2002
Published in Energy Law Journal
News & Events
September 12, 2016
Brattle Consultants Contribute to Significant Win for the State of California on Energy Crisis Tariff Violations

Testimony by Brattle consultants contributed to a favorable outcome for the State of California in a recent decision by the U.S. Court of Appeals for the Ninth Circuit, which upheld a ruling by the Federal Energy Regulatory Commission (FERC) finding that several electric power sellers committed tariff violations during the California Energy Crisis in the summer of 2000.

April 13, 2016
Brattle Consultants Contribute to Significant Win for the State of California on Energy Crisis Long-Term Contracts

Based on evidence presented by Brattle consultants, a FERC Administrative Law Judge issued a ruling that found that the Mobile-Sierra doctrine does not protect two long-term wholesale electricity contracts entered into during the Western Energy Crisis in 2001.

January 15, 2016
Shaun Ledgerwood and Gary Taylor Co-Author Article on Lasting Effects of Enron’s Power Market Schemes on the U.S. Anti-Manipulation Agenda

Brattle Principals Shaun Ledgerwood and Gary Taylor recently published an article on Risk.net discussing how failures of the first liberalized power market in the U.S. continue to shape the Federal Energy Regulatory Commission’s (FERC) anti-manipulation agenda fifteen years after the California energy crisis.

May 20, 2015
Brattle to Sponsor Symposium on Market Power and Market Manipulation in Energy Markets

The Brattle Group will be sponsoring the upcoming program, “A Symposium on Market Power and Market Manipulation in Energy Markets," taking place Wednesday, May 20th, 2015 and hosted by the Center for Business & Public Policy at Georgetown University's McDonough School of Business.

April 14, 2015
Brattle Consultants Release Book on Market Power and Market Manipulation in Energy Markets

Brattle principals Gerald Taylor, Shaun Ledgerwood, Romkaew Broehm, and Peter Fox-Penner have authored a book that provides insights and an analytical framework for understanding the legal and economic nuances associated with energy market manipulation. Market Power and Market Manipulation in Energy Markets: From the California Crisis to the Present will be published in April 2015 by PUR Inc.

November 18, 2014
Brattle Economists Contribute to FERC Ruling Supporting Findings of Manipulative Behavior by Power Suppliers During the California Energy Crisis

Testimony provided by Brattle consultants supported a FERC order affirming the initial decision in the matter of San Diego Gas & Elec. Co. v. Sellers of Energy and Ancillary Servs, which found power suppliers engaged in manipulative behavior during the California Energy Crisis.

September 02, 2014
Brattle Consultants Prepare Two Reports for the American Petroleum Institute on Natural Gas and Crude Oil Markets

Brattle consultants have authored two separate reports for the American Petroleum Institute (API) that provide a comprehensive overview of the natural gas and crude oil and product markets.