Mr. Mudge is an expert in corporate and project finance matters in the energy industry.

He has advised energy clients on issues relating to corporate restructuring, contract terminations or amendments, special capital needs, and acquisitions and divestitures. He also has experience in analyzing contractual, regulatory, financing, and tax matters, and projecting effects on cash flows, earnings, and customer rates.

Mr. Mudge served as Brattle’s COO and Treasurer from 2014 to March 2017. Prior to joining the firm, he was a principal at CRA International, where he focused on financial restructuring initiatives for electric utility clients and consulted on matters involving rate design, asset valuation, and project finance structuring and credit requirements. He has provided expert testimony in proceedings before federal and state courts, utility regulators in the US and Canada, and state environmental regulators, as well as in connection with mediation and arbitration proceedings.

As a former investment and commercial banker at Rothschild, ABN AMRO, and Sanwa Bank, he played a central role in developing financeable contract structures for large public and private infrastructure projects, utility mergers and acquisitions, bankruptcy restructuring, and numerous power project financings. He has also served on the advisory board of a start-up venture focused on the acquisition, development, and operation of renewable fuel generation projects and has served as a guest expert for courses on project finance at Georgetown Law School.

Testimony

August 1, 2019 and September 5, 2019

California Public Utility Commission, Cost of Capital Applications 19-04-014 and 19-04-015 on behalf of Southern California Edison and Pacific Gas and Electric Company. Expert report and supplemental testimony analyzing residual utility exposure to financial risk from wildfire claims in context of AB 1054. August 1, 2019 and before the Commission, September 5, 2019.

March 29, 2019 and June 20, 2019

International Centre for Settlement of Investment Disputes. Confidential expert report assessing the value of an electric utility, March 29, 2019 and before the Tribunal, June 20, 2019.

March 1, 2019

SunEdison, Inc., Securities Litigation, 1:16-md-2742 (PKC) (AJP) (S.D.N.Y.); Horowitz v. SunEdison, Inc., 1:16-cv-7917 (PKC) SUNE. Expert report assessing adequacy of disclosure to shareholders by SunEdison management in 2015.

November 27, 2018

American Arbitration Association, International Centre for Dispute Resolution. Confidential expert report for an international engineering, procurement, and construction (EPC) contractor to estimate the fair market value of a power plant at a future date based on projected cash flows in combination with other assets and foreseeable liabilities.