Read 050
Biography
Testimony
Publications

Mr. Read is an expert in valuation, risk management, and capital budgeting. His consulting practice is focused on the energy industry, especially electric power and natural gas. He specializes in the application of option pricing methods to analyze the value and risk of securities, derivatives, non-financial contracts, and real assets.

Mr. Read’s consulting engagements have involved, among other subjects, energy trading, volatility modeling and forecasting, management of market and credit risks, hedging retail electric and gas services, power and fuel procurement, valuation of generation assets, and investment decision making. He has developed analytical methods and software tools for valuation and risk management of energy contracts and portfolios. He has also developed and taught professional training courses on these topics.

In addition to management consulting, Mr. Read has served as a consulting and testifying expert in litigation and regulatory matters involving securities, energy marketing and trading, tax, cost of capital, and commercial damages.

Representative Engagements
Presentation
Valuation Controversies in Oil and Gas Bankruptcies
June 2, 2016
Published by The Brattle Group, Inc.
Article
April 2016
Published in Law360
Article
A Theory of Risk Capital
December 2015
Published in the December 2015 issue of Journal of Financial Economics
Report
Real Options, Taxes and Financial Leverage
June 2012
Published by National Bureau of Economic Research, Working Paper No. 18148
Article
Hedge Timing: There’s No Magic in Dollar Cost Averaging
May 2012
Published in Public Utilities Fortnightly
Report
Advances in Volatility Modeling for Energy Markets: Methods for Reproducing Volatility Clustering, Fat Tails, Smiles, and Smirks in Energy Price Forecasts
December 2011
Published by Electric Power Research Institute (EPRI), TR 1021812
Article
Smart Power and Evolution of Risk Management
December 2010
Published in Electric Light & Power
Presentation
Valuation of Wind Power
July 2009
Presentation to Wind Power Development Tutorial, InfoCast, San Diego, CA
Report
Just Lucky? A Statistical Test for Option Backdating
March 27, 2007
Published by Social Science Research Network, No. 977518
Report
Delta Hedging Energy Portfolios
2005
Published by Electric Power Research Institute (EPRI), TR 1010686
Report
Resource Planning and Procurement in Evolving Electricity Markets
January 31, 2004
Prepared for the Edison Electric Institute
Report
Seasonal Volatility in Energy Prices: A Study of Natural Gas and Electricity Futures
2004
David A. Andrade, Richard E. Goldberg, and James A. Read, Jr.
Published by Electric Power Research Institute (EPRI)
Report
Retail Risk Management: A Primer
2003
Published by Electric Power Research Institute (EPRI), TR 1002225
Report
Analytic Approximations for Generation Option Values
2003
Published by Electric Power Research Institute (EPRI), TR 1002209
Report
Financial Engineering in the Energy Book System - A Wind Turbine (technical update)
December 2002
Published by Electric Power Research Institute (EPRI)
Article
Capital Allocation for Insurance Companies
December 2001
Published in Journal of Risk and Insurance
Report
Optimization and Valuation of Natural Gas Storage or How to Get More out of the Gas Piggy Bank
2001
Published by Electric Power Research Institute (EPRI)
Article
Dealing with a Price-Spike World
May 2000
Published in Energy & Power Risk Management
Report
Residual Obligations Following Industry Restructuring
2000
Prepared for Edison Electric Institute
Article
Energy Derivatives and Price Risk Management
2000
In Pricing in Competitive Electricity Markets, edited by Ahmad Faruqui and B. Kelly Eakin, and published by Springer
Report
Valuation and Management of Nuclear Assets
1998
Published by Electric Power Research Institute (EPRI), TR 107541
Report
Option Pricing for Project Evaluation: An Introduction
1995
Published by Electric Power Research Institute (EPRI), TR-104755
Article
It's All Downstream From Here
June 1994
James A. Read, Jr. and S. Thomas
Published in Energy Risk
Article
Analysis for Changing Minds
April 1994
James A. Read, Jr. and S. Thomas
Published in Energy Risk
Report
The Utility Capital Budgeting Notebook
1994
A. Lawrence Kolbe, James A. Read, Jr., and Incentives Research Inc.
Published by Electric Power Research Institute (EPRI)
Article
Estimating the Cost of Switching Rights on Natural Gas Pipelines
October 1989
Published in The Energy Journal
Book
Option Pricing: A New Approach to Mine Valuation
1987
James A. Read, Jr., S. Palm, and N. Pearson
In Selected Readings in Mineral Economics, published by Pergamon Press
Book
The Cost of Capital: Estimating the Rate of Return for Public Utilities
1984
A. Lawrence Kolbe, James A. Read, Jr., and with George R. Hall
Published by MIT Press