Mike Tolleth

Mr. Tolleth specializes in applying the tools and concepts of corporate finance to the economic analysis of energy and infrastructure markets.

He leads engagements involving competitive price analysis, business and asset valuation, and damages estimation related to commercial disputes in the oil and gas, utility, and infrastructure industries.

Mr. Tolleth has testified on contract valuation before the Alberta Court of King’s Bench and has advised clients and testified on common carrier regulation matters before the Federal Energy Regulatory Commission (FERC), the Canada Energy Regulator (CER), and the California Public Utilities Commission (CPUC). His expertise in economic regulation of oil and gas pipelines covers a wide range of topics, including cost of service, cost allocation, rate design, regulatory policy, tax cost recovery, long-run marginal cost pricing, and market power.

In addition, Mr. Tolleth also has extensive experience analyzing financing arrangements and estimating the cost of capital for regulated companies in the utilities, pipeline, and railroad industries, as well as for valuation and marginal cost pricing applications. He has testified on utility finance and ratemaking matters before the CPUC, the Regulatory Commission of Alaska (RCA), the Alberta Utilities Commission (AUC), and the British Columbia Utilities Commission (BCUC), and has contributed to expert reports on financing in unregulated infrastructure industries, including electric generation and Liquid Natural Gas (LNG) production and distribution.