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Finance & Ratemaking

The Brattle Group combines a thorough understanding of ratemaking and regulation with world-class knowledge in finance to provide our clients with new and innovative methods to structure rates, determine financing costs, and manage energy risk.

We apply finance and economic principles to advise clients on strategies pertaining to the utility of the future, cost of capital, risk management, and rate design. Our economists are also industry leaders in load forecasting and weather normalization methods for planning and ratemaking purposes.

We frequently serve as expert witnesses in rate cases and other finance matters, and as strategy consultants for utility management or other utility market participants. We are also called upon to prepare reports that provide a thorough analysis of regulatory finance issues. Our team of experts has published widely-regarded texts and articles on industry financial practices and policy questions. Our staff includes Stewart C. Myers, the author of the leading graduate-level textbook on corporate finance, and Daniel McFadden, a Nobel Laureate for his an expertise in applying statistical methods to economics. Our vast network of academic and industry experts and the worldwide focus of our practice keep us at the forefront of critical regulatory finance and ratemaking issues.

Areas of Expertise
NEWS

Public Utilities Fortnightly has published an interview with Brattle Principal Ahmad Faruqui on the vigorous debate surrounding net energy metering (NEM).  

Engagements
REPRESENTATIVE ENGAGEMENTS

Below is a list of representative engagements for our Finance & Ratemaking practice.

Cost of capital survey for an Australian pipeline
Brattle experts were engaged by the Australian Pipeline Industry Association and the Dampier to Bunbury pipeline to prepare reports on how regulators in various jurisdictions around the world use different models and market information to set the cost of equity and debt for regulated utilities, and to make recommendations for the development of guidelines by Australian regulators under the newly-adopted National Gas and Electricity Rules. As part of this work, the Brattle team critically assessed the pros and cons of commonly-used methodologies including, but not limited to, the Capital Asset Pricing Model and versions of the Discounted Cash Flow model.
Impact of decoupling on cost of capital
On several occasions from 2011 to present, Brattle experts have reviewed statistical evidence for whether decoupling or other lost revenue recovery mechanisms have a discernable downward effect on the utility cost of capital. Those studies have repeatedly found there is no such reliable effect, probably because decoupling is introduced only in situations where revenue recovery risk has already increased. Hence, even though decoupling offsets some of this risk, there is no net effect.
Load forecasting and weather normalization
Several utilities have noticed that since the Great Recession of 2008-2009, load forecasting models have been less accurate. New patterns of customer behavior plus increasing effects of global climate change may be causing this. Brattle has developed tests and alternative specifications for load modeling to deal with these changes. For example, for PJM Interconnection, the largest regional transmission organization (RTO) in North America, Brattle experts conducted a comprehensive review of its models for forecasting demand that had significantly under-estimated recent peak loads. We re-estimated new models with specifications that fit the historical data equally well and corrected for serial correlation in the error term. We found that the forecast error was entirely due to an inability to accurately forecast weather and recommended more detailed modeling of forecast uncertainty. More recently, Brattle recommended that a gas distribution utility in the Mid-Atlantic switch from a 30-year weather normalization to a 10-year normalization for similar reasons.
Experts
Principals
Principal Emeritus
Academic Advisor & Other Outside Experts
Benjamin F. Bailar
Academic Advisor
Rice University
View Bio
Peter S. Fox-Penner
Academic Advisor
Boston University
View Bio
John R. Graham
Academic Advisor
Duke University
View Bio
Senior Associates
Publications
Presentation
Enabling Grid Modernization Through Alternative Rates and Alternative Regulation
November 29, 2018
Presented at the Energy Policy Roundtable in the PJM Footprint
Presentation
Modernizing Distribution Tariffs for Households
November 9, 2018
Presented to the Energy Consumers Association in Sydney, Australia
Presentation
The State of Electric Vehicle Home Charging Rates
October 2018
Ahmad Faruqui, Ryan Hledik, and John Higham
Presented to Colorado PUC
Presentation
Return of Pay-for-Performance Stronger with M&V 2.0
Prepared for BECC Conference, Innovations in Models, Metrics, and Customer Choice
Report
California Megafires: Approaches for Risk Compensation and Financial Resiliency Against Extreme Events
October 1, 2018
Prepared for Pacific Gas and Electric Company
Presentation
Rate Design in a High DER Environment
September 20, 2018
Presented at MEDSIS Rate Design Workshop
Presentation
Washington D.C. Performance-Based Regulation Workshop
September 19, 2018
Presentation
Rate Design to Enable Flexible Loads
September 18, 2018
Presented at APPA Business & Financial Conference 2018
Presentation
Customer-driven Rate Design is the Wave of the Future
September 10, 2018
Presented at the Colorado Rural Electric Association Managers Association Meeting
Report
AESO Cost of New Entry Analysis: Combustion Turbines and Combined-Cycle Plants with November 1, 2021 Online Date
September 4, 2018
Johannes P. Pfeifenberger, Kathleen Spees, Michael Hagerty, Mike Tolleth, Martha Caulkins, Emily Shorin, Sang H. Gang, Patrick S. Daou, and John Wroble
Prepared for Alberta Electric System Operator
Presentation
Understanding the Costs and Benefits of Electrification: Electrification Cost-Benefit Case Studies
August 23, 2018
Presented at the Electric Power Research Institute (EPRI) Electrification 2018 International Conference & Exposition
Report
Marginal Cost of Service Study
July 30, 2018
Prepared for Con Edison
Presentation
Retail Choice: Ripe for Reform?
July 23, 2018
Published by The Brattle Group, Inc.

The study reviews the current state of markets for Retail Electric Choice in the United States.

Report
International Experiences in Retail Electricity Markets: Consumer Issues
June 2018
Prepared for The Australian Competition and Consumer Commission (ACCC)

The Brattle Group was commissioned to write a paper on retail electric markets for the Australian Competition & Consumer Commission (ACCC).

Presentation
Collecting Allowed Revenues When Demand is Declining
June 28, 2018
Henna Trewn, Ahmad Faruqui, and Léa Grausz
Presented at the Center for Research in Regulated Industries (CRRI) 31st Annual Western Conference
Presentation
Tariffs of the Future for Gas Utilities
June 28, 2018
Léa Grausz , Ahmad Faruqui, Henna Trewn, and Cecile Bourbonnais
Presented at the Center for Research in Regulated Industries (CRRI) 31st Annual Western Conference
Presentation
Do Load Shapes of PV Customers Differ From Other Customers?
June 28, 2018
Presented at the Center for Research in Regulated Industries (CRRI) 31st Annual Western Conference
Presentation
Estimating the Impact of Innovative Rate Designs
June 07, 2018
Presented to Southern California Edison
Report
Resetting FERC ROE Policy: A Window of Opportunity
May 2018
Published by The Brattle Group, Inc.

The whitepaper discusses potential long-term changes to the Federal Energy Regulatory Commission's (FERC) return on equity (ROE) policy.

Presentation
Rate Design 3.0 and The Efficient Pricing Frontier
May 15, 2018
Presented at the EUCI 2018 Residential Demand Charges Conference, Nashville, TN
Report
Electricity Distribution Network Tariffs: Principles and Analysis of Options
April 2018
Authored for The Victorian Distribution Networks

Brattle economists have authored a report that discusses the principles for network tariff design and possible options for developing future network tariffs in competitive retail markets.

Article
The Future of the Electric Grid and its Regulation: Some Considerations
March 2018
Agustin J. Ros and Carl Peterson
Published in the March 2018 Issue of The Electricity Journal

The article discusses the evolving utility business model based on the future of the electric grid, as well as the alternative regulatory platform that will need to develop to ensure that the business model reaches its full potential.

Report
New Sources of Utility Growth: Electrification Opportunities and Challenges
March 2018
Published by The Brattle Group, Inc.

This brief examines the many factors accelerating the phenomenon of electrification and the profound implications for electric utilities, as well as potential strategies for utility involvement.

Presentation
Market-led Solutions and Innovations
February 28, 2018
Presented at the Energy Consumers Australia (ECA) Foresighting Forum
Article
New Technologies and Old Issues under PURPA
February 20, 2018
Published in the February 2018 issue of Norton Rose Fulbright's Project Finance NewsWire

The article discusses how the Public Utilities Regulatory Policies Act (PURPA) has resurfaced as a prime mover for renewables development in the U.S.

Article
Do Load Shapes of PV Customers Differ? Implications for Rate Design
February 2018
Published in Public Utilities Fortnightly Magazine
Presentation
Six Implications of the New Tax Law for Regulated Utilities
January 2018
Published by The Brattle Group, Inc.

An analysis by Brattle economists shows that while there are bona fide effects and benefits for customers, the enthusiasm for U.S. tax rate reductions may result in unrealistic expectations as well as overshadowing some important off-setting effects.

Presentation
January 25, 2018
Presented at the Harvard Electricity Policy Group's (HEPG) 89th Plenary Session
Presentation
Dynamic Pricing: What Can We Learn From Other Jurisdictions?
December 12, 2017
Presented at the California Public Utilities Commission's (CPUC) Electric Rate Forum
Presentation
Demand Charges and Dynamic Pricing Are Complements, Not Substitutes
December 11, 2017
Presented at the California Public Utilities Commission's (CPUC) Electric Rate Forum
Article
A New Face for PBR: Aligning Incentives in the Electric Utility Ecosystem
December 07, 2017
Published in the December 2017 issue of Public Utilities Fortnightly

This article discusses how the current menu of performance based regulation (PBR) mechanisms may need to be modified if they are to be used as tools to move utilities into a “Utility of the Future” (UoF) environment.

Presentation
Dynamic Pricing Works in a Hot and Humid Climate: Evidence from Florida
November 02, 2017
Presented at the International Energy Policy & Programme Evaluation Conference
Presentation
A Hybrid Model for Forecasting Electricity Sales and Peak Demand: A Case Study of TNB in Malaysia
November 02, 2017
Presented at the International Energy Policy & Programme Evaluation Conference
Presentation
The National Landscape of Residential TOU Rates: A Preliminary Summary
November 2017
Ryan Hledik, Ahmad Faruqui, and Cody Warner
Article
Two-sided Markets and the Utility of the Future: How Services and Transactions Can Shape the Utility Platform
August-September 2017
Published in the The Electricity Journal, Volume 30, Issue 7, August–September 2017, pp. 43-46

This article discusses how the evolving utility business will be defined by the shape and structure of services and transactions taking place over the utility platform.

Presentation
A Seminar on the Cost of Capital in Regulated Industries: Time for a Fresh Perspective?
October 24, 2017
Presented at a Brattle seminar, Brussels, Belgium

On October 24, 2017, The Brattle Group hosted a half-day seminar in Brussels that explored whether there is a case for adjusting current methods of measuring the cost of capital in the face of a changing industrial and regulatory landscape.

Presentation
Workshop on Pricing Reforms
October 17, 2017
Presented to Energy Networks Association (ENA)
Presentation
A Walk on the Frontier of Rate Design
October 05, 2017
Ahmad Faruqui and Cody Warner
Presented to the Western Farmers Electric Cooperative's Residential Demand Workshop
Presentation
The Future of Tariff Reform: A Global Survey
September 28, 2017
Ahmad Faruqui, Léa Grausz , and Hallie Cramer
Presented to the Indiana Energy Association’s (IEA) Annual Energy Conference
Presentation
Forecasting the Impact of DSM on Energy Sales
September 14, 2017
Ahmad Faruqui and Zhen Wang
Presented to the Edison Electric Institute (EEI)
Article
Moving Forward with Electricity Tariff Reform
September 2017
Published in the CATO Institute's Fall 2017 Regulation Magazine
Presentation
Modeling the Utility of the Future and Developing Strategies to Adapt and Lead
September 2017
Presented at Edison Electric Institute’s (EEI) Strategic Issues Roundtable
Article
Innovations in Pricing: Giving Customers What They Want
September 2017
Published in Edison Electric Institute's (EEI) Electric Perspectives
Report
Compensating Risk in Evolving Utility Business Models
August 31, 2017
Published by The Brattle Group's Retail Energy Practice

This brief focuses on how the overall risk of a utility, especially as measured in its cost of capital, may be impacted by "Utility of the Future" developments.

Article
An Econometric Assessment of Electricity Demand in the United States Using Utility-specific Panel Data and the Impact of Retail Competition on Prices
August 23, 2017
Published in The Energy Journal, Volume 38, Number 4
The article estimates electricity demand elasticity for different customer classes as well as the price effects from unbundled wholesale generation in conjunction with retail competition in the United States during the period 1972-2009.
Article
Enhancing Customer-Centricity: Growing New Relationships
August 2017
Ahmad Faruqui and Henna Trewn
This article was published in Public Utilities Fortnightly, August 2017. Copyright PUR Inc. (www.fortnightly.com). Used by permission of the publisher.
Report
The Value of TOU Tariffs in Great Britain: Insights for Decision-makers
July 07, 2017
Ryan Hledik, Will Gorman, Nicole Irwin, Michael Fell, Moira Nicolson, and Gesche Huebner
Prepared for Citizens Advice
This report quantifies the system value of time-of-use (TOU) tariffs in Great Britain and explores consumer preferences for TOU tariffs.
Article
Rethinking Customer Research in the Utility Industry
July 2017
Ahmad Faruqui and Henna Trewn
This article was published in Public Utilities Fortnightly, July 2017. Copyright PUR Inc. (www.fortnightly.com). Used by permission of the publisher.
Report
The public benefits of leasing energy efficient equipment
July 2017
Ahmad Faruqui, Neil Lessem, and Henna Trewn
Published in The Electricity Journal, Volume 30, Issue 6
Utility-led leasing solutions can overcome several key barriers to customer adoption of new, efficient products that are overlooked by traditional energy efficiency programs or non-utility leasing programs, as a program proposed by Puget Sound Energy illustrates. By encouraging the installation of energy efficient equipment, a utility-led leasing program would generate significant benefits in terms of bill savings, enhanced comfort and quality of life, avoided energy costs, avoided capacity costs, and avoided emissions.
Presentation
PRISM Simulating the Impact of Demand Charges in the Absence of Empirical Data
June 30, 2017
Angela Gunn
Presented at the Center for Research in Regulated Industries' (CRRI) 30th Annual Western Conference
Presentation
The Public Benefits of Leasing Energy Efficient Equipment: A Utility Case Study
June 30, 2017
Henna Trewn, Ahmad Faruqui, and Neil Lessem
Presented at the Center for Research in Regulated Industries' (CRRI) 30th Annual Western Conference
Presentation
Estimating the Impact of DSM on Energy Sales Forecasts: A Survey of Utility Practices
June 29, 2017
Ahmad Faruqui, James Hall, and Zhen Wang
Presented at the Center for Research in Regulated Industries' (CRRI) 30th Annual Western Conference
Report
Pepco Maryland In-Home Display Pilot Analysis
June 2017
Prepared for Pepco
Presentation
DERs and Electricity Rates in Ontario
May 29, 2017
Presented at The Mowat Centre Conference on Emerging Energy Trends
Article
Why Tax Credit Bonds Should Be a Key Part of Any Federal Infrastructure Policy Initiative
May 03, 2017
Elaine Buckberg and David Seltzer
Published in Public Works Financing

Dr. Buckberg reviews the benefits of using tax credit bonds as a debt instrument, and why they should be a key component in new federal infrastructure policy initiatives.

Book
Risk and Return for Regulated Industries
May 02, 2017
Published by Elsevier

This book establishes the principles and procedures for determining the fair rate of return on capital investment.

Article
Using Electric And Gas Forwards To Manage Market Risks
May 2017
Published in North American Windpower
Presentation
Should Regulated Utilities Hedge Fuel Cost and if so, How?
April 21, 2017
Presented at the Society of Utility and Regulatory Financial Analysts’ (SURFA) 49th Financial Forum “Cost of Capital in a Changing Utility Landscape”
Article
Overcoming the Over-Forecasting Bias of Pure Econometric Models: A Utility Case Study
February 27, 2017
Ahmad Faruqui, Josephine Duh, and Ingrid Rohmund
Published in the February 2017 issue of Electricity Policy’s Electricity Daily
This article addresses the issue of econometric models over-forecasting utility sales, resulting in revenue shortfall.
Report
Assessment of Load Factor as a System Efficiency Earning Adjustment Mechanism
February 10, 2017
William P. Zarakas, Sanem Sergici, Kevin Arritt, and David Kwok
Prepared for The Joint Utilities of New York
Report
Effect on the Cost of Capital of Ratemaking that Relaxes the Linkage between Revenue and kWh Sales: An Updated Empirical Investigation of the Electric Industry
November 2016
Michael J. Vilbert, Joseph B. Wharton, Shirley Zhang, and James Hall
Published by The Brattle Group, Inc.
Presentation
Understanding Residential Customer Response to Demand Charges: Present and Future
October 20, 2016
Presented at EUCI’s Residential Demand Charges Conference
Presentation
Future for Competitive Transmission: What Have We Learned and Where Do We Go From Here?
October 05, 2016
Presented at the Energy Bar Association's (EBA) 2016 Mid-Year Energy Forum
Presentation
Retail Costing and Pricing for Electricity
August 11, 2016
Presented at IPU's 58th Annual Regulatory Studies Program: The Fundamentals Course
Report
Curating the Future of Rate Design for Residential Customers
July 20, 2016
Ahmad Faruqui, Wade Davis , Josephine Duh, and Cody Warner
Published in Electricity Policy
Presentation
Moving Toward Value in Utility Compensation: Shareholder Value Concept
June 13, 2016
Presented to the California Public Utilities Commission
Presentation
Brattle Tariff Design Best Practices
June 01, 2016
Prepared for Tenaga Nasional Berhad (TNB) and the Government of Malaysia
Presentation
Residential Rates for the Utility of the Future
May 13, 2016
Presented to the Alternative Rate Design Stakeholder Process for Xcel Energy
Presentation
Modeling Customer Response to Xcel Energy's RD-TOU Rate
April 21, 2016
Presented to Xcel Energy
Article
Decoupling and the Cost of Capital
September 08, 2015
Published in The Electricity Journal
Report
An Evaluation of SRP’s Electric Rate Proposal for Residential Customers with Distributed Generation
January 05, 2015
Prepared for the Salt River Project
Report
Incentive-Based Ratemaking: Recommendations to the Hawaiian Electric Companies
May 20, 2014
Prepared for The Hawaiian Electric Companies
Report
The Impact of Revenue Decoupling on the Cost of Capital for Electric Utilities: An Empirical Investigation
March 20, 2014
Michael J. Vilbert, Joseph B. Wharton, Charles Gibbons, Melanie Rosenberg, and Yang Wei Neo
Prepared for The Energy Foundation
Report
Alternative Regulation and Ratemaking Approaches for Water Companies
September 23, 2013
Joseph B. Wharton, Bente Villadsen, and Heidi Bishop
Prepared for the National Association of Water Companies
Report
Estimating the Cost of Debt
March 04, 2013
Prepared for the Dampier Bunbury Pipeline
Report
The WACC for the Dutch TSOs, DSOs, water companies and the Dutch Pilotage Organisation
March 04, 2013
Prepared for NMa
Report
Estimating the Cost of Equity for Regulated Companies
February 17, 2013
Prepared for the Australian Pipeline Industry Association
Report
Calculating the Equity Risk Premium and the Risk-free Rate
November 26, 2012
Prepared for NMa
Presentation
Infrastructure and Rate Structure: Lessening the Shock
November 12, 2012
Presented at the 2012 NASUCA Annual Meeting, Baltimore, MD
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
Report
The WACC for mobile, fixed-line and cable termination rates
March 15, 2012
Dan Harris, Jack Stirzaker, and Cosimo Fischietti
Prepared for the Independent Post and Telecommunication Authority in the Netherlands (OPTA)
Article
Dodd Frank Compliance for Oil and Gas Companies
February 06, 2012
Julia E. Sullivan, Cary Oswald, and Romkaew P. Broehm
Published in Oil & Gas Monitor
Report
Cleaning Up Spark Spreads: How Plant Owners Can Reduce Risk Through Carbon Markets
March 2011
Published by The Brattle Group, Inc.
News & Knowledge
November 29, 2018
Sanem Sergici to Present at Energy Policy Roundtable in the PJM Footprint

Brattle Principal Sanem Sergici will speak at the Energy Policy Roundtable in the PJM Footprint, hosted by Raab Associates, to be held November 29 in Philadelphia, PA and online.

November 09, 2018
Ahmad Faruqui to Present at Energy Consumers Australia Workshop

Brattle Principal Ahmad Faruqui will speak at the Energy Consumers Australia Workshop on Consumer Reward Pricing, to be held November 9 in Sydney, Australia.

October 30, 2018
Brattle Economists Outline a System for Compensating Distributed Energy Resources in Electricity Journal Article

Brattle Principals Agustin J. Ros, Romkaew Broehm, and Phil Hanser have authored an article published in The Electricity Journal, which discusses the costing and pricing methodology that distribution utilities and policymakers should use when paying Distributed Energy Resource (DER) owners for surplus energy production.

October 11, 2018
Ahmad Faruqui Discusses Net Metering in an Interview with Public Utilities Fortnightly

Public Utilities Fortnightly has published an interview with Brattle Principal Ahmad Faruqui on the vigorous debate surrounding net energy metering (NEM).  

October 09, 2018
Sanem Sergici to Present at BECC Conference

Brattle Principal Sanem Sergici will speak at the Behavior, Energy & Climate Change (BECC) Conference, to be held October 7-10 in Washington, DC.

September 16, 2018
Mariko Geronimo Aydin to Present at APPA Annual Business & Financial Conference

Brattle Senior Associate Mariko Geronimo Aydin will speak at the American Public Power Association (APPA) Annual Business & Financial Conference, to be held September 16-19 in Anaheim, CA.

September 12, 2018
William Zarakas to Present at the SmartGrid Canada Conference

Brattle Principal William Zarakas will speak at the SmartGrid Canada Conference, to be held September 10-12 in Montreal, Quebec, Canada.

August 23, 2018
Ahmad Faruqui to Speak at Electrification International Conference & Exposition

Brattle Principal Ahmad Faruqui will speak at the Electrification 2018 International Conference & Exposition, to be held August 20-23, 2018, in Long Beach, CA. Hosted by EPRI, the conference will discuss the benefits of electrification, best practices, and the latest technologies already in use.

August 21, 2018
Bente Villadsen to Present at AGA/EEI Public Utility Accounting Course

Brattle Principal Bente Villadsen will present at the American Gas Association (AGA)/Edison Electric Institute (EEI) “Introduction and Advanced Public Utility Accounting Courses,” to be held August 20-23, 2018, in St. Louis, Missouri.

July 23, 2018
Study by Brattle Economists Outlines Recommendations for Improving Retail Electric Choice

Brattle economists have released a study that reviews the current state of markets for Retail Electric Choice in the United States, noting that it is under criticism in some regions while up for reconsideration in others that had previously put it aside.

July 22, 2018
Brattle Principals to Present at EEI's Electric Rates Advanced Course

Brattle Principals Phil Hanser, Agustin Ros, and Bente Villadsen will present at the Edison Electric Institute’s (EEI) Electric Rates Advanced Course, to be held July 22-25, 2018 in Madison, Wisconsin.

July 12, 2018
Brattle Experts' Report on Retail Electricity Market Design Used by ACCC in Electricity Pricing Report

The Brattle Group was recently commissioned to write a paper on retail electric markets for the Australian Competition & Consumer Commission (ACCC). Brattle’s report discussed policy options for protecting customers and promoting retail competition that have been successfully implemented by other jurisdictions around the world.

July 07, 2018
Sanem Sergici to Present at Smart Electric Power Alliance Grid Evolution Summit

Brattle Principal Sanem Sergici will speak at the Smart Electric Power Alliance (SEPA) Grid Evolution Summit, to be held July 9-12, 2018, in Washington, D.C.

June 10, 2018
Phil Hanser to Participate in Southeastern Association of Regulatory Utility Commissioners Conference

Brattle Principal Phil Hanser will participate in the annual Southeastern Association of Regulatory Utility Commissioners (SEARUC) conference, to be held June 10-13, 2018 in Charleston, SC.

June 06, 2018
Ahmad Faruqui to Participate at Edison Electric Institute Convention

Brattle Principal Ahmad Faruqui will be a panelist at the annual Edison Electric Institute (EEI) convention, to be held June 4-7, 2018 in San Diego, CA.

May 21, 2018
Brattle Economists Outline Recommendations for Reformulating FERC ROE Policy in New Whitepaper

Brattle economists have authored a whitepaper that discusses potential long-term changes to the Federal Energy Regulatory Commission's (FERC) return on equity (ROE) policy.

May 07, 2018
Robert Mudge to Present on Tax Law at EBA Annual Meeting

Brattle Principal Robert Mudge will present at the 2018 Energy Bar Association (EBA) Annual Meeting & Conference, taking place May 7-8, 2018 in Washington, DC.

April 30, 2018
Report by Brattle Economists Outlines Network Tariff Design Options for Victorian Distribution Networks

Brattle economists have authored a report for The Victorian Distribution Networks that discusses the principles for network tariff design and possible options for developing future network tariffs in competitive retail markets.

March 28, 2018
Agustin Ros Examines Grid Modernization's Impacts on Regulation and Business Models in Electricity Journal Article

Brattle Principal Agustin J. Ros has co-authored an article published in the March 2018 issue of The Electricity Journal that discusses the evolving utility business model based on the future of the electric grid, as well as the alternative regulatory platform that will need to develop to ensure that the business model reaches its full potential.

March 20, 2018
Agustin Ros to Present on Consumer Choice and Rate Design at World Forum on Energy Policy

Brattle Principal Agustin Ros will present at the World Forum on Energy Regulation (WFER), taking place March 20-23, 2018 in Cancun, Mexico.

March 12, 2018
Robert Mudge to Present at EUCI's PURPA 101 Conference

Brattle Principal Robert Mudge will present at the Electric Utility Consultants, Inc.’s (EUCI) Public Utilities Regulatory Policies Act (PURPA) 101 conference, taking place March 12-13, 2018 in Portland, OR.

March 07, 2018
Latest Brief by Brattle Economists Examines Electrification Opportunities and their Impact on the Utility Industry

In the third installment of Brattle’s Retail Energy Practice Briefing Series, Brattle economists examine the many factors accelerating the phenomenon of electrification and the profound implications for electric utilities, as well as potential strategies for utility involvement.

February 28, 2018
Neil Lessem Presents at Energy Consumers Australia Foresighting Forum

Brattle Senior Associate Neil Lessem presented at the Energy Consumers Australia (ECA) Foresighting Forum, “Take Charge: Shifting Power to Consumers in the Using, Making and Trading of Energy,” which took place February 28-March 1, 2018 in Sydney, Australia.

February 20, 2018
Brattle Economists Discuss the Resurgence of PURPA in Norton Rose Fulbright's Project Finance NewsWire

Brattle economists have contributed an article to the February 2018 issue of Norton Rose Fulbright’s Project Finance NewsWire that discusses how the Public Utilities Regulatory Policies Act (PURPA) has resurfaced as a prime mover for renewables development in the U.S.

January 30, 2018
Brattle Economists Outline Implications of New Tax Law for Regulated Utilities

A new analysis by Brattle economists shows that while there are bona fide effects and benefits for customers, the enthusiasm for U.S. tax rate reductions may result in unrealistic expectations as well as overshadowing some important off-setting effects.

January 25, 2018
Ahmad Faruqui to Discuss Demand Charges at Harvard Electricity Policy Group Plenary Session

Brattle Principal Ahmad Faruqui will participate in the Harvard Electricity Policy Group’s (HEPG) 89th Plenary Session, taking place January 25-26, 2018 in Palm Beach, Florida.

January 12, 2018
Agustin Ros to Present at Rutgers CRRI Workshop on Regulation and Developments in Network Industries

Brattle Principal Agustin Ros will present at Rutgers University’s Center for Research in Regulated Industries’ (CRRI) workshop, “Regulation and Development in Network Industries,” taking place January 12, 2018 in Newark, NJ.

December 11, 2017
Ahmad Faruqui to Present at California Public Utilities Commission's Electric Rate Forum

Brattle Principal Ahmad Faruqui will present at the California Public Utilities Commission’s (CPUC) Electric Rate Forum, taking place December 11-12, 2017 in San Francisco, CA.

December 07, 2017
William Zarakas Discusses Performance Based Regulation in Public Utilities Fortnightly Article

Brattle Principal William Zarakas has authored an article published in the December 2017 issue of Public Utilities Fortnightly (PUF) that discusses how the current menu of performance based regulation (PBR) mechanisms may need to be modified if they are to be used as tools to move utilities into a “Utility of the Future” (UoF) environment.

November 16, 2017
Robert Mudge to Present at PURPA Litigation and Qualifying Facilities Symposium

Brattle Principal Robert Mudge will present at Electric Utility Consultants, Inc. (EUCI) Public Utility Regulatory Policies Act of 1978 (PURPA) Litigation and Qualifying Facilities (QF) Symposium, taking place November 16-17, 2017 in Denver, CO.

November 13, 2017
Sanem Sergici to Present on Retail Pricing Reform at PLMA Conference

Brattle Principal Sanem Sergici will present during the 36th Peak Load Management Alliance (PLMA) Conference, taking place November 13-15, 2017 in Cambridge, MA.

November 02, 2017
Ahmad Faruqui to Present at International Energy Policy & Program Evaluation's Bangkok Conference

Brattle Principal Ahmad Faruqui will present at the International Energy Policy & Program Evaluation’s (IEPPEC) Bangkok Conference, taking place November 1-2, 2017 in Bangkok, Thailand.

October 24, 2017
Brattle Hosts European Seminar on the Cost of Capital in Regulated Industries

On October 24, 2017, The Brattle Group hosted a half-day seminar in Brussels that explored whether there is a case for adjusting current methods of measuring the cost of capital in the face of a changing industrial and regulatory landscape.

October 24, 2017
William Zarakas Discusses the Utility Platform Business Model in Electricity Journal Article

Brattle Principal William Zarakas has authored an article published in The Electricity Journal that discusses how the evolving utility business will be defined by the shape and structure of services and transactions taking place over the utility platform.

September 27, 2017
Frank Graves to Present at Edison Electric Institute’s Strategic Issues Roundtable

Brattle Principal Frank Graves will present at Edison Electric Institute’s (EEI) Strategic Issues Roundtable, taking place September 27-29, 2017 in New Orleans, LA.

August 31, 2017
Brattle Economists Examine Utility of the Future Impacts on Risk and Cost of Capital in New Brief

In the second installment of Brattle’s Retail Energy Practice Briefing Series, Brattle economists examine how “Utility of the Future” (UoF) developments could affect the measurement and compensation of business, regulatory, and other risks of a utility, especially as measured in its cost of capital.

August 23, 2017
Agustin J. Ros Authors Energy Journal Article on U.S. Electricity Demand and Impact of Competition on Prices

Principal Agustin J. Ros has authored an article published in The Energy Journal that estimates electricity demand elasticity for different customer classes as well as the price effects from unbundled wholesale generation in conjunction with retail competition in the United States during the period 1972-2009.

August 22, 2017
Bente Villadsen to Participate in EEI and AGA Introduction to Public Utility Accounting Courses

Brattle Principal Bente Villadsen will present at the Edison Electric Institute (EEI) and American Gas Association’s (AGA) Introduction and Advanced Public Utility Accounting Courses, taking place August 21-24, 2017 in Minneapolis, MN.

July 24, 2017
Ahmad Faruqui to Present Keynote Address at EUCI Conference on Residential Demand Charges

Brattle Principal Ahmad Faruqui will present at the Energy Utility Consultants, Inc. (EUCI) Conference on Residential Demand Charges, taking place July 24-25, 2017 in Charleston, SC.

July 07, 2017
Report by Brattle Economists Explores the Value of Time-of-Use Tariffs in Great Britain

Brattle economists have co-authored a report that quantifies the system value of time-of-use (TOU) tariffs in Great Britain and explores consumer preferences for TOU tariffs.

June 29, 2017
Brattle Economists to Present at Rutgers Center for Research in Regulated Industries Annual Western Conference

A group of Brattle consultants will present at Rutgers Center for Research in Regulated Industries’ (CRRI) 30th Annual Western Conference, taking place June 28-30, 2017 in Monterey, CA.

June 21, 2017
Regulatory Economist Agustin J. Ros Joins The Brattle Group

The Brattle Group is pleased to announce that regulatory economist Dr. Agustin (Augie) Ros has joined the firm’s Boston, MA office as a principal.

June 12, 2017
Elaine Buckberg to Discuss Regulation and Policy Developments at Private Infrastructure Forum

Brattle Principal Elaine Buckberg will present at the Long-term Infrastructure Investors Association’s (LTIIA) Private Infrastructure Forum, taking place June 12, 2017 in New York, NY.

June 01, 2017
Brattle Economists to Present at Rutgers Center for Research in Regulated Industries Annual Eastern Conference

Several Brattle consultants will present at Rutgers Center for Research in Regulated Industries’ (CRRI) 36th Annual Eastern Conference, taking place May 31 to June 2, 2017 in Annapolis, MD.

May 29, 2017
Ira Shavel to Present on Ratemaking and Distributed Energy Resources at Mowat Center Conference

Brattle Principal Ira Shavel will present at the Mowat Center’s Emerging Energy Trends Conference, taking place May 29, 2017 in Toronto, Canada.

May 25, 2017
Philip Hanser to Present at LSI Conference on Electric Transmission in the West

Brattle Principal Philip Hanser will present at Law Seminars International’s (LSI) conference “Electric Transmission in the West,” taking place May 25-26, 2017 in Portland, OR and via webcast.

May 03, 2017
Elaine Buckberg Co-Authors Article in Public Works Financing Infrastructure Policy Issue

Brattle Principal Elaine Buckberg recently co-authored an article in the Infrastructure Policy Issue of Public Works Financing, which presents a short-list of federal infrastructure financing policy options.

May 02, 2017
Brattle Economists Author Risk and Return for Regulated Industries

Brattle Principals Bente Villadsen, Michael Vilbert, and Dan Harris, and Principal Emeritus A. Lawrence Kolbe have authored a new book that examines the topic of cost of capital for regulated industries.

April 28, 2017
Elaine Buckberg to Present at ABA’s State and Local Procurement Symposium

Brattle Principal Elaine Buckberg will present at the American Bar Association’s (ABA) 12th Annual State and Local Procurement Symposium, taking place April 27-28, 2017 in St. Louis, MO.

April 24, 2017
Brattle Academic Advisor Co-authors Paper on the Monetary Value of Snow

Dr. Michael Goldstein, a professor of finance at Babson College and an Academic Advisor to The Brattle Group, co-authored a paper for the American Geophysical Union (AGU) assessing the monetary value of seasonal snow.

April 21, 2017
Bente Villadsen to Present at SURFA Financial Forum

Brattle Principal Bente Villadsen will present at the Society of Utility and Regulatory Financial Analysts’ (SURFA) 49th Financial Forum, “Cost of Capital in a Changing Utility Landscape,” taking place April 20-21, 2017 in New Orleans, LA.

February 27, 2017
Brattle Economists Discuss Econometric Models in Electricity Daily Article

Brattle economists have co-authored an article published in the February 2017 issue of Electricity Policy’s Electricity Daily that addresses the issue of econometric models over-forecasting utility sales, resulting in revenue shortfall.

October 05, 2016
Judy Chang to Speak at Energy Bar Association’s Mid-Year Energy Forum

Brattle Principal Judy Chang will participate in the Energy Bar Association’s (EBA) Mid-Year Energy Forum, taking place October 5-6, 2016 in Washington, D.C.

October 03, 2016
Finance Expert Elaine Buckberg Joins The Brattle Group From U.S. Treasury Department

The Brattle Group announced today that finance expert Dr. Elaine Buckberg has joined the firm’s Washington, DC office as a principal.

September 22, 2016
Ahmad Faruqui to Present at Maryland-District of Columbia Utilities Association Fall Conference

Brattle Principal Ahmad Faruqui will present at the upcoming Maryland-District of Columbia Utilities Association’s Annual Fall Conference, “Change is Here. Are You a Transformer?” taking place September 21-23, 2016 in Cambridge, Maryland.

August 24, 2016
Bente Villadsen to Present at AGA/EEI Public Utility Accounting Courses

Brattle Principal Bente Villadsen will present at the upcoming American Gas Association (AGA) and Edison Electric Institute’s (EEI) Public Utility Accounting Courses, taking place August 22-25, 2016 in Atlanta, GA.

July 25, 2016
Bente Villadsen to Present at EEI Electric Rates Advanced Course

Brattle Principal Bente Villadsen will present at the 2016 Edison Electric Institute’s (EEI) Electric Rates Advanced Course, taking place July 24-27, 2016 in Madison, WI.

July 20, 2016
Paper by Brattle Economists Examines the Case for Deploying Three-Part Rates for Residential Customers

Brattle economists have authored a paper examining the rationale for offering three-part rates to all residential customers.

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.

May 13, 2016
Ahmad Faruqui to Present on Rate Design Theory at Minnesota Public Utilities Commission Workshop

Brattle Principal Ahmad Faruqui will present at the upcoming Minnesota Public Utilities Commission’s Alternative Rate Design Workshop, taking place May 13, 2016 in St. Paul, MN.

May 03, 2016
Law360 Article by Brattle Economists Examines Considerations When Implementing Oil and Gas Contract Termination Payments

Principals Richard Goldberg and James Read have authored an article published in Law360 that examines potential points of contention when implementing oil and gas contract termination payments, in light of the ongoing decline of energy commodity prices.

April 28, 2016
Bente Villadsen to Moderate Panel at the 48th Financial Forum of the Society of Utility and Regulatory Financial Analysts

Brattle Principal Bente Villadsen will moderate a panel discussion at the annual Financial Forum of the Society of Utility Regulatory Financial Analysts (SURFA), taking place April 28-29, 2016 in Indianapolis, IN.

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.

September 17, 2015
Robert Mudge to Present on Finance in the Power Sector at the 2015 PJM Market Summit

Brattle principal Robert Mudge will present at the upcoming Infocast 2015 PJM Market Summit, taking place September 15-17, 2015 in Philadelphia, PA.

September 08, 2015
Brattle Economists Co-Author Article on Decoupling for The Electricity Journal

Brattle principals Michael Vilbert and Joseph Wharton recently co-authored an article on decoupling in August/September 2015 issue of The Electricity Journal.

August 26, 2015
Bente Villadsen to Present at American Gas Association and Edison Electric Institute’s Joint Public Utility Accounting Course

Brattle principal Bente Villadsen will present at the upcoming American Gas Association and Edison Electric Institute (EEI) joint course, “Introduction to Public Utility Accounting,” taking place August 24-27, 2015 in Washington, DC.

July 19, 2015
Bente Villadsen and Philip Hanser to Present at EEI Electric Rates Advanced Course

Brattle principals Bente Villadsen and Philip Hanser will present at the upcoming Edison Electric Institute Electric Rates Advanced Course, taking place July 19-22, 2015 in Madison, WI.

April 07, 2015
Article Authored by Brattle Consultants on Impacts of Inclining Block Rates on Energy Consumption Featured in Public Utilities Fortnightly

Brattle consultants have recently authored an article for the April 2015 issue of Public Utilities Fortnightly that examines whether the implementation of inclining block rates (IBRs) on energy prices leads to energy conservation.

January 09, 2015
Report by Brattle Principals Evaluates Rate Proposal for Residential Distributed Generation and Identifies Way to Restore Fairness in Rate Design

Principals Ahmad Faruqui and Ryan Hledik have authored a report for the Salt River Project (SRP) that provides an evaluation of SRP’s proposal to introduce a new rate for residential customers who are planning to install distributed generation (DG) capability. Through their evaluation of the SRP proposal, the authors identify a way to restore fairness in rate design for DG customers that may be of interest to all utilities with residential DG customers.

November 25, 2014
Brattle Hosts Utility Industry Representatives at Roundtable Program on the Future of Rate Design

On November 17th, consultants from Brattle’s utilities practice hosted a roundtable discussion on the future of residential rate design for the electric industry.

September 14, 2014
Bente Villadsen to Present at the Society of Depreciation Professionals Annual Conference

Brattle principal Bente Villadsen will speak on “Alternative Regulation and Ratemaking Approaches for Water Companies” at the upcoming Society of Depreciation Professionals annual conference.

August 21, 2014
Testimony by Principal Bob Mudge Key to Ameren Win in $500 Million Rate Dispute Before Missouri Public Service Commission

Testimony provided by Brattle principal Bob Mudge underpinned key criteria cited by the Missouri Public Service Commission in a unanimous ruling against Ameren’s largest customer, Noranda Aluminum, Inc.

July 16, 2014
Brattle Consultants Lead Demand Response Workshop Before Thai Energy Regulatory Commission and Utilities Delegation

Brattle consultants presented a half-day workshop on the growth of demand response technology in the electric utility industry before the Energy Regulatory Commission of Thailand, along with other representatives on July 16, 2014 at EnerNOC’s Boston headquarters.

July 13, 2014
William Zarakas to Present at the 2014 Summer Meeting of the National Association of Regulatory Utility Commissioners

William Zarakas has been selected to participate in a panel discussion at the upcoming Summer Committee Meetings of the National Association of Regulatory Utility Commissioners (NARUC), taking place on July 13-16, 2014 in Dallas, TX.

June 25, 2014
Brattle Consultants to Present at CRRI’s 27th Annual Western Conference

Several Brattle consultants will participate in the upcoming Center for Research in Regulated Industries (CRRI) 27th Annual Western Conference, taking place from June 25 - 27, 2014 in Monterey, CA. CRRI is located at Rutgers University and aims to further study regulation in economics, finance, and institutions.

June 20, 2014
Shaun Ledgerwood Quoted in EnergyRisk Article Discussing Increased Use of Surveillance Technology in Commodities Trading

Principal Shaun Ledgerwood was recently cited in an EnergyRisk article on the use of technology in monitoring commodities trading for potential manipulation-like behavior.