Electric Power
Market Design and Competitive Analysis
Overview
Engagements
Experts
Publications

The Brattle Group assists companies and organizations in formulating market design features and examining competitive conditions in electricity, natural gas, pipeline, and oil markets. Our deep institutional knowledge and antitrust experience enables us to address competitive issues that frequently arise in energy markets.

We provide consulting and expert testimony, including economic analysis of market competitiveness and antitrust issues in the U.S., Canada, the European Union, Australia, Brazil, Colombia, and New Zealand. Our testimony has been presented before the U.S. Federal Energy Regulatory Commission, the U.S. Federal Trade Commission, the Australian Competition and Consumer Commission, the Directorates General for Energy and Transport of the European Community, the Directorates General for Competition of the European Community, the Competition Bureau of the Government of Canada, and the U.S. Department of Justice.

Principals
Broehm 076
Principal
+1.617.864.7900
Dr. Broehm is an economic expert in the electric utility industry specializing in the areas of market competition, impacts of regulatory policies on wholesale power markets and power assets and valuation, and the evaluation of power procurement. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Metin 087
Principal
+1.617.864.7900
Dr. Metin Celebi provides expertise in electricity markets and analysis of environmental and climate policy. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Chang for web
Principal
+1.617.864.7900
Judy Chang is an energy economist and policy expert with a background in electrical engineering. She has 20 years of experience in advising clients in transmission, resource, and strategic planning. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Graves 060
Principal
+1.617.864.7900
Mr. Graves specializes in regulatory and financial economics, especially for electric and gas utilities, and in litigation matters related to securities litigation and risk management. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Harris 129
Principal
(Rome) +39.06.48.888.146
(London) +44.20.3829.2340
Mr. Harris has more than fifteen years of experience as expert in valuation, quantification of damages, and the economics of gas and electricity markets. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Hesmondhalgh 086
Principal
Dr. Hesmondhalgh has worked as a consultant in the energy sector for more than 20 years, predominantly in the electricity and gas sectors. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
0107 1
Principal
Dr. Ledgerwood is an expert in market competitiveness with an emphasis on the economic analysis of potential market manipulation claims in commodities and securities markets. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Mudge 129
Principal
+1.202.955.5050
Mr. Mudge is an expert in corporate and project finance matters in the energy industry. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Murphy 038
Principal
+1.617.864.7900
Dr. Murphy is an engineer and economist with expertise in energy, competitive, and regulatory economics and finance, as well as quantitative modeling and risk analysis. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Newell 090
Principal
+1.617.864.7900
Dr. Newell is an expert in electricity wholesale markets, the transmission system, and RTO rules. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Pfeifenberger 034 edited
Principal
Mr. Pfeifenberger is an economist with a background in electrical engineering and over twenty-five years of experience in the areas of regulatory economics and finance. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Read 050
Principal
+1.617.864.7900
Mr. Read is an expert in valuation, risk management, and capital budgeting in the energy industry, especially electric power and natural gas. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Reitzes 067
Principal
(Washington) +1.202.955.5050
(Toronto) +1.416.360.4849
Dr. Reitzes, a former Federal Trade Commission economist, specializes in antitrust and regulatory economics. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Principal Emeritus
Wharton 123
Principal Emeritus
+1.415.217.1000
Dr. Wharton specializes in the development of new business models and innovative pricing policies for regulated industries. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Academic Advisors
Fox penner 131
Academic Advisor
+1.202.955.5050
Dr. Fox-Penner specializes in economic, regulatory, and strategic issues in network industries. His practice centers on energy and environmental policies and electric regulation, planning, and competition issues. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Senior Consultants
Senior Consultant
+1.202.955.5050
Senior Associates
Presentation
November 3, 2016
Presented at Law Seminars International's (LSI) 18th Annual Conference on Electric Power in California
Presentation
Technology's Role, Rates and Customers, 1985-2016
August 16, 2016
Presented at the Wisconsin Public Utility Institute
Report
July 12, 2016
Prepared for the California Independent System Operator. Co-authored by members of The California Independent System Operator, Energy and Environmental Economics, Inc., Berkeley Economic Advising and Research, LLC, and Aspen Environmental Group.
Presentation
The Future of Wholesale Electricity Market Design with the Growth of Low-Carbon Generation
June 8, 2016
Presented at the Energy Bar Association's (EBA) 2016 Annual Meeting & Conference
Article
May 5, 2016
Sent to the U.S. Government Accountability Office (GAO)
Report
Benefits of the Southwest Intertie Project-North (SWIP North)
March 31, 2016
Prepared for Great Basin Transmission, LLC
Report
Western Australia's Transition to a Competitive Capacity Auction
January 29, 2016
Kathleen Spees, Samuel A. Newell, and Colin A. McIntyre
Prepared for EnerNoc
Report
Cost-Benefit Analysis of ERCOT’s Future Ancillary Services (FAS) Proposal
December 21, 2015
Prepared for the Electric Reliability Council of Texas (ERCOT)
Report
Lake Erie Connector Market Assessment Report
May 2015
Prepared for ITC Lake Erie Connector LLC
Report
Cost of New Entry Estimates for Combustion Turbine and Combined Cycle Plants in PJM
May 15, 2014
Samuel A. Newell, Michael Hagerty, Kathleen Spees, Johannes P. Pfeifenberger, Quincy Liao, Christopher D. Ungate, and John Wroble
Prepared for PJM Interconnection, L.L.C.
Report
Third Triennial Review of PJM’s Variable Resource Requirement Curve
May 15, 2014
Johannes P. Pfeifenberger, Samuel A. Newell, Kathleen Spees, Ann Murray, and Ioanna Karkatsouli
Prepared for PJM Interconnection, L.L.C.
Report
Estimating the Economically Optimal Reserve Margin in ERCOT
January 31, 2014
Samuel A. Newell, Kathleen Spees, Johannes P. Pfeifenberger, Ioanna Karkatsouli, Nick Wintermantel, and Kevin Carden
Prepared for The Public Utility Commission of Texas
Report
Developing a Market Vision for MISO - Supporting a Reliable and Efficient Electricity System in the Midcontinent
January 27, 2014
Prepared for the Midcontinent Independent System Operator, Inc. (MISO)
Article
Using Virtual Bids to Manipulate the Value of Financial Transmission Rights
November 2013
Published in The Electricity Journal, Vol. 26, Issue 9
Presentation
Characteristics of Successful Capacity Markets
October 31, 2013
Presented at the APEx Conference 2013, New York, NY
Presentation
Examining Hydroelectricity’s Potential Role in the Alberta Market: Impacts of Market Structure and Economics
September 24, 2013
Presented at the Alberta Power Symposium, Calgary
Article
Capacity Markets — Lessons Learned from the First Decade
September 2013
Published in Economics of Energy & Environmental Policy, Vol. 2, No. 2
Presentation
Outlook on Fundamentals in PJM’s Energy and Capacity Markets
August 8, 2013
Presented at the 12th Annual Power and Utility Conference, Hosted by Goldman Sachs
Presentation
Making Energy-Only Markets Work: Market Fundamentals and Resource Adequacy in Alberta
June 13, 2013
Presented at the Harvard Electricity Policy Group Meeting, Calgary
Report
Evaluation of Market Fundamentals and Challenges to Long-Term System Adequacy in Alberta’s Electricity Market: 2013 Update
March 2013
Prepared for the Alberta Electric System Operator
Presentation
Structural Challenges with California’s Current Forward Procurement Construct
February 26, 2013
Presented at the CPUC and CAISO Long-Term Resource Adequacy Summit
Report
Resource Adequacy in California: Options for Improving Efficiency and Effectiveness
October 2012
Prepared for Calpine
Report
ERCOT Investment Incentives and Resource Adequacy
June 1, 2012
Prepared for the Electric Reliability Council of Texas
Article
Trusting Capacity Markets: Does the lack of long-term pricing undermine the financing of new power plants?
December 2011
Published in Public Utilities Fortnightly
Presentation
Resource Adequacy: Current Issues in North American Power Markets
November 29, 2011
Prepared for the Alberta Power Summit
Report
Second Performance Assessment of PJM's Reliability Pricing Model: Market Results 2007/08 through 2014/15
August 26, 2011
Johannes P. Pfeifenberger, Samuel A. Newell, Kathleen Spees, Attila Hajos, and Kamen Madjarov
Prepared for PJM Interconnection
Presentation
Second RPM Performance Assessment and CONE Study
August 18, 2011
Prepared for PJM Interconnection
Report
Evaluation of Market Fundamentals and Challenges to Long-Term System Adequacy in Alberta’s Electricity Market
April 2011
Prepared for the Alberta Electric System Operator by The Brattle Group, Inc.
Report
The Economics of Resource Adequacy Planning: Why Reserve Margins Are Not Just About Keeping the Lights On
April 2011
Kevin Carden, Nick Wintermantel, and Johannes P. Pfeifenberger
Published by National Regulatory Research Institute
Presentation
Capacity Market Designs: Focus on CAISO, NYISO, PJM, and ISO-NE
July 19, 2010
Published by The Brattle Group, Inc.
Report
Midwest ISO’s Resource Adequacy Construct: An Evaluation of Market Design Elements
January 19, 2010
Samuel A. Newell, Kathleen Spees, and Attila Hajos
Prepared for Midwest Independent System Operator (MISO)
Presentation
Cross-RTO Survey of Capacity Markets: What is Working and What is Not
November 9, 2009
Attila Hajos and Samuel A. Newell
Presented at the EUCI Conference on ’Smart’ Capacity Markets
Report
A Comparison of PJM's RPM with Alternative Energy and Capacity Market Designs
September 2009
Prepared for PJM Interconnection
Report
Review of PJM's Reliability Pricing Model (RPM)
June 30, 2008
Prepared for PJM Interconnection, L.L.C.
Report
Review of PJM’s Market Power Mitigation Practices in Comparison to Other Organized Electricity Markets
September 2007
Prepared for PJM Interconnection by The Brattle Group, Inc.