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Dr. Toby Brown specializes in the regulation and economics of the gas and electricity sectors. He has consulted for pipelines, utilities, and regulators and he has particular expertise in incentive-based regulation in the energy sector.

Dr. Brown’s project experience at The Brattle Group includes analyzing business risk in pipeline rate cases, assessing the economic impacts of alternative regulatory frameworks and competitive structures in the energy sector, and advising on regulatory best practices based experience in different jurisdictions worldwide.

Dr. Brown also provides litigation support in a wide range of areas, including damages estimations, competition assessments, gas contract arbitrations, and utility and pipeline rate cases.

Dr. Brown was previously part of Brattle’s European practice, as well as a member of the San Francisco office's energy practice. Prior to joining Brattle he worked at the UK energy regulator, Ofgem. He holds a D.Phil. in chemistry from the University of Oxford.

Publications
Report
Near-Term Reliability Auctions in the NEM: Lessons from International Jurisdictions
August 23, 2017
Kathleen Spees, Samuel A. Newell, David Luke Oates, Toby Brown, Neil Lessem, Daniel Jang, and John Imon Pedtke
Prepared for the Australian Energy Market Operator (AEMO)
Presentation
Lifting the Lid on Price Revision and Re-Opener Clauses: LNG Pricing and Price Review Triggers
February 27, 2017
Presented at C5 Group's Long Term Gas Supply Contracts, Singapore
Report
Market Power Mitigation Mechanisms for the Wholesale Electricity Market in Western Australia
November 01, 2016
Prepared for the Public Utilities Office of the Government of Western Australia's Department of Finance

The report evaluates mechanisms for mitigating market power in the reformed wholesale energy market scheduled for July 2017 implementation in Western Australia’s South West Interconnect System.

Report
Benefits and Costs of Integration in Transmission/Transportation Networks: An Application to Eastern Australia Gas Markets
August 01, 2016
Prepared for APA Group
The report authored by Brattle economists on behalf of APA Group reviews integration in APA’s pipeline operations in Eastern Australia since the acquisition of Epic Energy in December 2012, and identifies the economic costs and benefits associated with integration.
Article
Efficient Tariff Structures for Distribution Network Services
December 2015
Published in Economic Analysis and Policy, Vol. 48
Report
International Review of Demand Response Mechanisms
October 2015
Prepared for the Australian Energy Market Commission (AEMC)
Report
Structure of Electricity Distribution Network Tariffs: Recovery of Residual Costs
August 2014
Prepared for the Australian Energy Market Commission
Report
Incentive-Based Ratemaking: Recommendations to the Hawaiian Electric Companies
May 20, 2014
Prepared for The Hawaiian Electric Companies
Report
Wholesale Gas Price for AGL’s VPA Proposal for 2014–16 (public version)
February 2014
Prepared for AGL Energy
Report
International Experience In Pipeline Capacity Trading
August 05, 2013
Dan Harris, Toby Brown, and Alessandro Massolo
Prepared for the Australian Energy Market Operator
Report
Estimating the Cost of Debt
March 04, 2013
Prepared for the Dampier Bunbury Pipeline
Report
Estimating the Cost of Equity for Regulated Companies
February 17, 2013
Prepared for the Australian Pipeline Industry Association
Report
Framework for Assessing Capex and Opex Forecasts as Part of a “Building Blocks” Approach to Revenue/Price Determinations
June 2012
Prepared for the Australian Energy Market Commission
Presentation
International Innovations in Rate of Return Determination
April 26, 2012
Presented at the SURFA 2012 Forum
Report
Approaches to Setting Electric Distribution Reliability Standards and Outcomes
January 2012
Published by The Brattle Group, Inc.
Presentation
Is “Cost-of-Service Plus Incentives” the Best We Can Do?
July 28, 2011
Presented at the Australian Competition and Consumer Commission Twelfth ACCC Regulatory Conference Regulating for the Future
Presentation
Does the Market Risk Premium Change Over Time?
July 2011
Presented at the 2011 ACCC Regulatory Conference, Brisbane, Australia
Presentation
Incentive Regulation: Lessons from other Jurisdictions
May 26, 2010
Presented at Alberta Utilities Commission Performance Based Ratemaking workshop, the Van Horne Institute
Presentation
Is the smart grid going to fare better in competitive markets?
April 14, 2010
Presented at the Gulf Coast Power Association Spring Conference, Houston, TX
Newsletter
Price Re-Openers in Natural Gas Supply Contracts: Avoiding Costly Mistakes in Arbitration
2010
Published by The Brattle Group, Inc.
Report
Options for Reforming the Building-Blocks Framework
December 16, 2009
Prepared for The Australian Energy Market Commission
Report
Review of Incentive Power and Regulatory Options in Victoria
December 2009
Prepared for The Australian Energy Market Commission
Report
Incentives Under Total Factor Productivity Based and Building-Blocks Type Price Controls
June 2009
Toby Brown and Boaz Moselle
Published by The Brattle Group, Inc.
Report
EU Climate and Energy Policy to 2030 and the Implications for Carbon Capture and Storage: A Report for ALSTOM Power Systems
March 2009
Published by The Brattle Group, Inc.
Report
Use of Total Factor Productivity Analyses in Network Regulation: Case Studies of Regulatory Practice
October 2008
Toby Brown and Boaz Moselle
Published by The Brattle Group, Ltd
Report
Critique of the Industry Codes Governance Arrangements
June 2008
Serena Hesmondhalgh, Boaz Moselle, and Toby Brown
Prepared for Ofgem
Presentation
International Review of Transmission Planning
March 12, 2008
Published by The Brattle Group, Ltd.
Report
Models of Inter-Regional Transmission Charging
March 2008
Boaz Moselle, Dan Harris, and Toby Brown
Published by The Brattle Group, Ltd
Report
International Review of Transmission Planning Arrangements
October 2007
Boaz Moselle and Toby Brown
Published by The Brattle Group, Ltd
News & Events
February 27, 2017
Dan Harris to Present at C5 Group's Long Term Gas Supply Contracts: Asia Event

Brattle Principal Dan Harris will present at C5 Group’s Long Term Gas Supply Contracts: Asia event, taking place February 27-28, 2017 in Singapore.

November 01, 2016
Report by Brattle Economists Reviews Market Power Mitigation Mechanisms for Wholesale Electricity Market in Western Australia

A report authored by Brattle economists evaluates mechanisms for mitigating market power in the reformed wholesale energy market scheduled for July 2017 implementation in Western Australia’s South West Interconnect System.

August 23, 2016
Report by Brattle Economists Quantifies Economic Benefits Associated with Natural Gas Pipeline Integration

A new report authored by Brattle economists on behalf of APA Group reviews integration in APA’s pipeline operations in Eastern Australia since the acquisition of Epic Energy in December 2012, and identifies the economic costs and benefits associated with integration.

May 23, 2016
Report by Brattle Economists Assesses Impact of Potential New Distribution Tariffs on Electricity Consumers in Great Britain

Brattle economists have authored a report that examines the landscape of emerging domestic distribution tariff design options in Great Britain (GB) and the impacts they may have on electricity consumers.

April 20, 2016
Article by Brattle Consultants on Tariff Structures for Achieving Economic Efficiency Published in Economic Analysis and Policy

Brattle Principals Toby Brown and Ahmad Faruqui and Associate Léa Grausz have authored an article published in the December 2015 issue of Economic Analysis and Policy that reviews different methods for ensuring economic efficiency when devising tariffs for distribution network services while meeting the revenue constraint.

March 16, 2016
The Brattle Group Opens an Office in Sydney

The Brattle Group announced today that it has opened an office in Sydney to support its clients in Australia and the greater Asia-Pacific region with face-to-face collaboration and efficient access to the firm’s global resources.

September 17, 2015
Toby Brown to Present on Estimating Flood Impacts at Coasts and Ports 2015 Conference

Brattle principal Toby Brown will present at the upcoming Coasts and Ports 2015 Conference, taking place September 15-18, 2015 in Auckland, New Zealand.

January 05, 2015
The Brattle Group Announces Three Principal Promotions

The Brattle Group is pleased to announce the promotion of Toby Brown, Ryan Hledik, and Kathleen Spees to principal.

September 02, 2014
Brattle Experts Prepare Report for the Australian Energy Market Commission on Recovering Residual Costs from Electricity Distribution Network Tariffs

Brattle senior associate Toby Brown and principal Ahmad Faruqui recently prepared a report for the Australian Energy Market Commission (AEMC) on how electricity distribution network tariffs can be structured to recover residual costs.