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Infrastructure

Experts at The Brattle Group have extensive experience advising infrastructure investors, operators, and regulators across the energy, transportation, telecom, and water sectors.

We bring a unique combination of economic modeling skills, market knowledge, regulatory expertise, and understanding of public policy imperatives. With over 300 professionals across six countries, Brattle combines in-depth industry experience and rigorous analyses to help clients develop strategies for changing markets, make critical business decisions, and answer complex economic and financial questions in regulation and litigation.

Areas of Expertise

Engagements
REPRESENTATIVE ENGAGEMENTS

Below is a list of representative engagements for our Infrastructure practice.

Foreign investor assistance with U.S. energy investment
For an international investor in electric utility assets, Brattle supported regulatory due diligence regarding the potential acquisition of Cleco Corporation.
Cost of capital estimation
On behalf of major pipelines, integrated electric utilities, non-integrated electric utilities, gas distribution companies, water utilities, railroads, and other parties, Brattle routinely estimates the cost of capital in the U.S., Canada, and Europe. The work has been used in connection with the companies’ rate hearings before the Federal Energy Regulatory Commission, the Canadian National Energy Board, the Surface Transportation Board, state and provincial commissions, and other regulatory bodies.
Cost-benefit analysis of proposed toll road extension
For a U.S.-based public sector toll road development and operation authority, Brattle conducted a comprehensive cost-benefit analysis of a proposed toll road extension, accounting for construction and maintenance costs, value of time savings, lives saved, injuries avoided, and reductions in emissions.
Regulatory framework for Rome airport operator
For Rome Airport operator ADR, Brattle assisted in the negotiation of a new regulatory framework including return of investments, price paid at privatization, early termination clauses, and calculation of Terminal Value at end of concession.
Policy to mitigate GHG emissions
For a major U.S. electric utility, Brattle provided assistance in developing a proposed policy structure to mitigate greenhouse gas emissions (CO2) that would be economically efficient, effective, and manageable for industries and the economy. The research evaluated the impacts on the electric industry, addressing overall, regional, and company-level effects of alternative policy approaches. It also addressed effects on consumers and other industries. On the basis of our work, the utility took a public position advocating a fee-based system rather than a cap-and-trade allowance system.
Cost modelling for broadband networks
In connection with the U.S. Federal Communications Commission’s (FCC) Connect America Fund and Universal Service Reform, Brattle developed a model for GCI (a wireless and cable company) to determine the costs and feasibility of deploying wireless broadband networks in rural areas throughout the U.S., including remote parts of Alaska. Brattle’s model applied GIS-based analysis to segment geographies and determined options and costs for last mile as well as middle mile (fiber, microwave, and satellite) broadband solutions. The results of Brattle’s model were cited by the FCC in its 2016 Report and Order on Universal Service. This work built upon prior Brattle engagements to develop cost models for wireline and wireless voice and broadband networks used in a range of state and federal regulatory proceedings.
Economic analysis of the Bay Delta Conservation Plan

The Brattle Group is leading the economic analysis of the Bay Delta Conservation Plan, which considers the benefits and costs of reconfiguring the way California exports water from the Sacramento-San Joaquin Delta. To complete the analysis, four categories of benefits are evaluated including urban water supply reliability, agricultural water supply reliability, water quality impacts, and reductions in seismic risks. These benefits are weighed against project costs.

Experts
Publications
Report
Infrastructure, Private Investments and Allocation of Risks: An Economic Analysis of Lessons Learned
May 2018

This whitepaper demonstrates that due to limited public funds available for infrastructure, private capital will play an important role in financing infrastructure projects over the coming years through Public-Private Partnership (PPP) contracts.

Report
Rising Tide of Next Generation U.S. P3s—and How to Sustain It
February 27, 2018
Robert S. Mudge, Elaine Buckberg, and Hannah Sheffield

A new study by Brattle economists illustrates the trends in today’s rapidly growing public-private partnership (P3) market, different incentive structures for successful long-term risk sharing, and highlights key questions for designing a viable P3.

Report
The Crisis in the Federal Government's Infrastructure: Additional Approaches to the Current Federal Budgetary Scoring Regime
February 07, 2018
Elaine Buckberg
Published by the American Bar Association's Privatization, Outsourcing, and Financing Transactions Committee, Public Contract Law Section

The paper proposes two new scoring approaches to long-term capital and real property projects, including those undertaken through Public-Private Partnerships (P3s).

Presentation
Investment Trends and Fundamentals in U.S. Transmission and Electricity Infrastructure
July 17, 2015
Presented to the JP Morgan Investor Conference
Presentation
Infrastructure Needs, Water Regulation, Financing Options and Areas of Improvements: Issues as Basis for Discussion
December 05, 2014
Presented to the First Workshop on Water Regulation in Europe, Rome, Italy
Report
Infrastructure Needs, Water Regulation, Financing Options and Areas of Improvements
December 02, 2014
Francesco Lo Passo and Cosimo Fischietti
Prepared for the First Workshop on Water Regulation in Europe, Rome, Italy
Article
House of Project Complexity: Understanding complexity in large infrastructure projects
May 2014
Donald R. Lessard, Vivek Sakhrani, and Roger Miller
Published in Engineering Project Organization Journal
Article
Infrastructure and Competition in the Electric Delivery System
September 2013
Published in The Electricity Journal, Volume 26, Issue 7
Presentation
Infrastructure and Rate Structure: Lessening the Shock
November 12, 2012
Presented at the 2012 NASUCA Annual Meeting, Baltimore, MD
Article
Transmission’s True Value: Adding up the benefits of infrastructure investments
February 2012
Johannes P. Pfeifenberger and Delphine Hou
Published in Public Utilities Fortnightly
Article
Project Bond e Sviluppo delle Infrastrutture
October 2011
Published in AREL, Osservatorio Energia e Ambiente
Report
Employment and Economic Benefits of Transmission Infrastructure Investment in the U.S. and Canada
May 2011
Johannes P. Pfeifenberger and Delphine Hou
Presented by WIRES in conjunction with The Brattle Group, Inc.
Presentation
An Introduction to Electricity Grid Infrastructure: System Complexity in a Rapidly Changing Industry
August 31, 2010
Presented at Department of Defense/Monitor 360's Complexity of the Smart Grid Conference
Article
Infrastrutture. Come evitare una nuova bolla
August 2009
Published in Formiche, Edition 40
Article
Network Effects in Infrastructure Regulation: Principles and Paradoxes
2009
Published in Review of Network Economics
Article
Who Pays, Who Benefits, and Adequate Investment in Natural Gas Infrastructure
2007
Published in Energy Law Journal
News & Knowledge
May 03, 2018
Private Capital to Play Important Role in Financing Infrastructure Projects According to Brattle Economists

A new whitepaper by Brattle economists demonstrates that due to limited public funds available for infrastructure, private capital will play an important role in financing infrastructure projects over the coming years through Public-Private Partnership (PPP) contracts.

April 23, 2018
Robert Mudge to Discuss U.S. Public Private Partnership Infrastructure Development at P3Insights Event

Brattle Principal Robert Mudge will participate in the April P3Insights Breakfast, “What’s Ahead for US Public Private Partnership Infrastructure Development,” taking place April 23rd, 2018 in Washington, DC.

April 09, 2018
Robert Mudge to Present on Automated Vehicle Infrastructure at Pennsylvania Automated Vehicle Summit

Brattle Principal Robert Mudge will present during the Pennsylvania Automated Vehicle (PAAV) Summit, taking place April 9-10, 2018 in Pittsburgh, PA.

March 02, 2018
Elaine Buckberg to Present at National Bureau of Economic Research's Conference on the Economics of Infrastructure

Brattle Principal Elaine Buckberg will present at the National Bureau of Economic Research’s (NBER) event, “Economics of Infrastructure,” taking place March 2, 2018 in Cambridge, MA.

February 27, 2018
Public-Private Partnerships Could Play Significant Role in Addressing the U.S. Infrastructure Crisis, According to Brattle Economists

A new study by Brattle economists illustrates the trends in today’s rapidly growing public-private partnership (P3) market, different incentive structures for successful long-term risk sharing, and highlights key questions for designing a viable P3.

February 07, 2018
Elaine Buckberg Co-Authors ABA White Paper on Proposed Alternatives to OMB Scoring

Elaine Buckberg recently contributed to a white paper published by the American Bar Association’s (ABA) Privatization, Outsourcing, and Financing Transactions Committee, Public Contract Law Section, on challenges and proposed alternatives to Office of Management and Budget (OMB) scoring.