Dr. Carpenter specializes in the fields of energy economics, regulation, corporate planning, pricing policy, and antitrust.

Dr. Carpenter is an expert in the economics and regulation of the natural gas, oil, and electric utility industries. He has provided expert testimony before the British Monopolies and Merger Commission, the Australian Competition Tribunal, various US and Canadian regulatory authorities, and US federal and state courts. In addition, he has testified before the US Congress on issues surrounding the transition of network industries from strict regulation to increased competition and in high-stakes commercial disputes involving the energy industries. These issues have included: stranded investments and contracts; asset valuation and cost of capital; pricing in long-term supply agreements; evaluation of supply, demand, and price forecasting models; the competitive effects of capacity expansions; and the design of innovative regulatory regimes including performance-based regulation. Dr. Carpenter was the lead testifying economist in several of the seminal antitrust and market manipulation cases involving natural gas markets in North America, including State of Illinois v. Panhandle Eastern Pipeline Co. (Fed. Ct. for C.D. Ill) and Energy Transfer Partners, FERC Docket No. IN06-3-003.

Dr. Carpenter has worked extensively with clients throughout Europe, Australia, and New Zealand to help apply lessons on restructuring and regulation from the North American experience. He co-founded Incentives Research, Inc. in 1983 and is the former Chairman of The Brattle Group.


Massachusetts Institute of Technology, PhD in Applied Economics, MS in Management

Stanford University, BA in Economics

Post-doctoral fellow at the MIT Center for Energy Policy Research


September 2011, May 2012
Before the National Energy Board of Canada, TransCanada PipeLines Limited, NOVA Gas Transmission Ltd., Foothills Pipe Lines Ltd. - Business and Services Restructuring Proposal and Mainline Tolls for 2012-2013, Docket RH-003-2011
July 2011, April 2012
Before the Alberta Utilities Commission, Rate Regulation Initiative, Proceeding 566, ATCO Gas and ATCO Electric Performance Based Regulation Applications
June 2011
In the British High Court of Justice, Queen’s Bench Division, Commercial Court, GB Gas Holdings Limited v. Accenture (expert report)
June 2010, September 2010
Before the Federal Energy Regulatory Commission, Kern River Gas Transmission, Docket No. RP04-274