August 17, 2017
Andrew Abere Interviewed in Law360 Article on Working With Antitrust Experts

Brattle Principal Andrew Abere was recently interviewed in the Law360 article, “Tips for Working With Economics Experts in Antitrust Cases,” outlining key pieces of advice on the most effective use of experts in antitrust litigation.

August 14, 2017
Brattle Economists: NYISO Carbon Charge Could Help Meet New York Decarbonization Goals More Cost-Effectively

A report authored by Brattle economists and prepared for the New York Independent System Operator (NYISO) finds that adding a carbon charge into the wholesale energy market could improve the state’s ability to meet its decarbonization goals cost-effectively. The study reveals that refunding collected carbon revenues back to customers results in minimal impact on customer electricity costs compared to current policies.

August 09, 2017
Academic Advisor Joshua Gans Featured in WSJ Article on the Economic Impacts of Artificial Intelligence

Academic Advisor Joshua Gans and economists Ajay Agrawal and Avi Goldfarb are featured in a recent WSJ article for their research in artificial intelligence (AI) and machine learning.

August 03, 2017
Brattle Economists and Academic Advisors Publish Article in AIPLA Quarterly on Using Conjoint Analysis to Calculate Reasonable Royalty Damages

Brattle economists Lisa Cameron and Jeremy Verlinda and Academic Advisors Greg Allenby and Peter Rossi have recently contributed the article “Calculating Reasonable Royalty Damages Using Conjoint Analysis” to the American Intellectual Property Law Association Quarterly Journal.

August 02, 2017
U.S. Tax Court Cites Testimony of A. Lawrence Kolbe in IRS Tax Shelter Case Decision

In the recently-concluded U.S. Tax Court cases Guy R. Baxter & Lonnie C. Baxter v. Commissioner of Internal Revenue and Curtis Investment Company, LLC, Henry J. Bird, a partner other than the tax matters partner v. Commissioner of Internal Revenue, the judge cited the testimony of Brattle Principal Emeritus A. Lawrence Kolbe in his opinion, ruling in favor of the Internal Revenue Service (IRS).

August 01, 2017
Article by Drs. Shaun Ledgerwood and Jeremy Verlinda on Energy Manipulation Cases Published in ABA Transportation and Energy Industries Digest

In a new article published in the American Bar Association’s (ABA) Transportation and Energy Industries Digest, Brattle economists Shaun Ledgerwood and Jeremy Verlinda review two recent energy-related manipulation cases where the plaintiffs claimed antitrust harms, but received very different outcomes following Motions to Dismiss.

July 21, 2017
Bruce Tsuchida Contributes Book Chapter in Second Edition of Renewable Energy Integration

Brattle Principal Bruce Tsuchida has contributed a chapter to the second edition of Renewable Energy Integration: Practical Management of Variability, Uncertainty, and Flexibility in Power Grids.

July 20, 2017
Valuation and Commercial Damages Expert Chris Polson Joins The Brattle Group

The Brattle Group is pleased to announce that Chris Polson, a valuation and commercial damages expert, has joined the firm’s Toronto office as a principal.

July 18, 2017
Brattle Economists Author Law360 Article on Proposed Remedies to Horizontal Shareholding

Brattle economists Elaine Buckberg, Steven Herscovici, James Reitzes, and Branko Jovanovic have authored a Law360 article addressing claims from recent studies that competition is adversely affected when “institutional investors hold significant shares in multiple firms within a ‘concentrated’ industry.”

July 12, 2017
New York Attorney General’s Chief Economist Guy Ben-Ishai Joins The Brattle Group

The Brattle Group is pleased to announce that competition and securities expert Dr. Guy Ben-Ishai has joined the firm’s New York office as a principal.

July 11, 2017
Brattle Economists Contribute to IRS Victory in Tax Dispute Regarding Value of Residual Interests

In a recent ruling from Judge Halpern of the United States Tax Court, a deduction claimed by RERI Holdings I, LLC for a 2003 donation to the University of Michigan was denied, with the Court upholding penalties for a gross valuation misstatement.

July 11, 2017
Brattle Report Discusses the Impact of the Wireless Infrastructure Industry on the U.S. Economy

Brattle economists have authored a report discussing how the wireless infrastructure industry will impact the U.S. economy in the coming years, as mobile wireless services and networks continue to expand.

July 07, 2017
Report by Brattle Economists Explores the Value of Time-of-Use Tariffs in Great Britain

Brattle economists have co-authored a report that quantifies the system value of time-of-use (TOU) tariffs in Great Britain and explores consumer preferences for TOU tariffs.

July 06, 2017
Brattle Announces Promotion of Florin Dorobantu to Principal

The Brattle Group is pleased to announce the promotion of Florin Dorobantu to principal. Dr. Dorobantu specializes in valuation and structured finance issues with a focus on international arbitration.

July 05, 2017
Brattle Economists Assess Impact of Rhode Island Renewable Energy Growth Program

A report by Brattle Principals Mark Berkman and Jürgen Weiss evaluates the economic, jobs, and environmental impacts of the Rhode Island Renewable Energy Growth (REG) Program for years 2015 and 2016, as well as the expected impact of the overall program between 2015 and 2019.

June 29, 2017
Brattle’s Retail Energy Practice Analyzes Potential Response to the “Utility of the Future” in New Briefing Series

Brattle's Retail Energy Practice is producing a series of briefs that provide an integrated view into potential utility responses to the challenges and trends associated with the “Utility of the Future” (UoF).

June 27, 2017
Brattle Economists Identify Key Attributes for Ensuring Electric Grid Reliability with Increased Variable Energy

A report by Brattle economists outlines the key reliability challenges and defines the attributes in which electric grid operators should focus on in order to maintain and strengthen system reliability.

June 26, 2017
Brattle Economists Recommend Moving beyond “Baseload” Generation for Planning and Operating Today’s Electric Grid

Brattle economists have released a report explaining how the use of the term “baseload” generation is no longer useful for the purposes of planning and operating today’s electricity system.

June 21, 2017
Brattle Economists Publish Concurrences Article on Non-Price Effects in Competition

Brattle Principal Renée Duplantis and Consultant Ian Cass have published an article in the recent issue of Concurrences Law & Economics that discusses the current legal framework for competition and merger reviews in Canada and the growing interest in incorporating non-price effects into competition assessments.

June 21, 2017
Regulatory Economist Agustin J. Ros Joins The Brattle Group

The Brattle Group is pleased to announce that regulatory economist Dr. Agustin (Augie) Ros has joined the firm’s Boston, MA office as a principal.

June 20, 2017
Brattle Economists Contribute Two Articles to Energy Regulation Quarterly

Brattle economists have contributed two articles to the current issue of Energy Regulation Quarterly, a journal that provides a forum for debate and discussion on issues surrounding the regulated energy industries in Canada.

June 16, 2017
Brattle Congratulates Client Naftogaz on Set-Aside of Take-or-Pay Claims in Arbitration over Gazprom Contract

The Brattle Group congratulates our client Naftogaz, the national oil and gas company of Ukraine, in the successful set-aside of take-or-pay claims in the arbitration over their gas supply contact with Russia’s Gazprom.

June 06, 2017
Renée Duplantis Named Future Leader in Who’s Who Legal Competition 2017

Renée Duplantis has been recognized by Who’s Who Legal as a future leader in competition economics.

June 05, 2017
Brattle’s Corporate Headquarters Relocates to Boston

The Brattle Group is pleased to announce that we have relocated our corporate headquarters to One Beacon Street in downtown Boston.

June 05, 2017
Brattle Consultants Contribute to Favorable Initial Decision for BP Products North America Inc. on Discrimination Claims Against Sunoco Pipeline

An initial decision by the FERC, finding that Sunoco Pipeline L.P. discriminated against BP Products North America Inc., relied extensively on testimony and evidence submitted by Brattle Principal Steve Levine.

May 23, 2017
Brattle Economists Interview Joshua Gans on Interoperability and Disruption for the ABA’s Perspectives in Antitrust

In an interview published in the ABA's Perspectives in Antitrust, Brattle economists Michelle Cleary and Lisa Cameron discussed interoperability, disruption, and antitrust with Professor Joshua Gans.

May 07, 2017
Brattle Economists Provide Testimony on Behalf of Solar Investors in Spain Resulting in €128 Million Award

Spain has lost the first of the international arbitration claims under the Energy Charter Treaty, arising from the application to thermal solar investors of certain changes to the Spanish regulatory framework for renewable installations. The International Centre for the Settlement of Investment Disputes (ICSID) has rendered an €128 award in favor of the British-based Eiser Infrastructure Limited and its affiliate Energia Solar Luxembourg S.à r.I., which own three 50 MW thermo-solar power plants in Spain, ASTEXOL-2, ASTE 1A, and ASTE 1B.

May 05, 2017
The Brattle Group Recognized as a Top Economic Consulting Firm by AdvisoryHQ

The Brattle Group has been recognized in AdvisoryHQ’s list of Top 6 Best Economic Consulting Firms.

May 03, 2017
Elaine Buckberg Co-Authors Article in Public Works Financing Infrastructure Policy Issue

Brattle Principal Elaine Buckberg recently co-authored an article in the Infrastructure Policy Issue of Public Works Financing, which presents a short-list of federal infrastructure financing policy options.

May 02, 2017
Brattle Economist Optimistic About Role of Wholesale Power Markets in Helping States Implement Energy Policy Goals

In responses to questions posed at today’s Federal Energy Regulatory Commission (FERC) Technical Conference, Brattle Principal Dr. Samuel Newell describes how wholesale power markets and state policies can work together to achieve decarbonization objectives and reliability objectives at a low cost.

May 02, 2017
Brattle Economists Author Risk and Return for Regulated Industries

Brattle Principals Bente Villadsen, Michael Vilbert, and Dan Harris, and Principal Emeritus A. Lawrence Kolbe have authored a new book that examines the topic of cost of capital for regulated industries.

April 26, 2017
Ontario Market Renewal Effort Could Provide Up to CAD $5.2 Billion in Customer and Supplier Benefits, According to Brattle Economists

Brattle economists have authored a report that concludes the Independent Electricity System Operator’s (IESO) proposed Market Renewal efforts to reform the province’s wholesale electricity markets could provide significant benefits to customers and suppliers in Ontario.

April 26, 2017
Brattle Listed as Leading International Arbitration Expert Witness Provider by Global Arbitration Review

Global Arbitration Review (GAR), a leading resource on international arbitration news and intelligence, named The Brattle Group as one of the most active firms in expert witness services in the field of international arbitration.

April 25, 2017
Report by Brattle Economists Assesses Economic and Carbon Value of Ohio Nuclear Power Plants

A report by Brattle economists finds that Ohio’s nuclear energy plants will contribute approximately $510 million to the state gross domestic product (GDP) over the next ten years (2018-2027), in addition to other economic and societal benefits.

April 24, 2017
Brattle Academic Advisor Co-authors Paper on the Monetary Value of Snow

Dr. Michael Goldstein, a professor of finance at Babson College and an Academic Advisor to The Brattle Group, co-authored a paper for the American Geophysical Union (AGU) assessing the monetary value of seasonal snow.

April 10, 2017
Report by Brattle Economists Evaluates Production Cost Savings of Regional Market Participation by Mountain West Entities

Brattle Principals Judy Chang and Johannes Pfeifenberger, and Associate John Tsoukalis have authored a report that analyzes how different market structures could alter production costs in the combined service areas of the Mountain West Transmission Group entities.

April 06, 2017
Brattle Economists Assess PV-Battery Systems’ Ability to Reduce Household Grid Reliance in Utilities Policy Article

Brattle economists have co-authored an article published in Utilities Policy that discusses how low-cost solar photovoltaics (PV) and battery electricity storage can potentially bring about fundamental shifts in the structure of the U.S. power sector.

March 20, 2017
Building an Effective Trade Surveillance System: Guidance from FERC White Papers

Brattle Principal Shaun Ledgerwood and Associate John Tsoukalis have authored a white paper that outlines a cost-effective, learning-driven approach for companies to develop in-house trade surveillance systems to analyze potentially manipulative behavior.

March 09, 2017
Brattle Economists Featured in Utility Dive Article on Climate Change’s Impact on Electric Grid

Brattle Principal Judy Chang and Academic Advisor Maximilian Auffhammer were recently featured in a Utility Dive article discussing the effects of climate change on electricity demand and grid operators.

March 03, 2017
Non-GAAP Measures: Do’s and (Mostly) Don’ts

In a new Law360 article, Brattle Principal Adoria Lim and Associate Chi Cheng studied the correspondence between numerous companies and the SEC to identify and categorize the SEC’s hot buttons that may lead to enforcement actions, including litigation.

February 28, 2017
Brattle Economists and Academic Advisors Author Article for BNA on Damages in Product Mislabeling Cases

Brattle Principal Lisa Cameron, Academic Advisors Professor Greg Allenby and Professor Peter E. Rossi, and Brattle Senior Research Analyst Yikang Li recently co-authored an article for BNA about fundamental economic errors in approaches to damages in recent product mislabeling cases.

February 27, 2017
Brattle Economists Discuss Econometric Models in Electricity Daily Article

Brattle economists have co-authored an article published in the February 2017 issue of Electricity Policy’s Electricity Daily that addresses the issue of econometric models over-forecasting utility sales, resulting in revenue shortfall.

February 24, 2017
Yvette Austin Smith Authors Deal Points Article on Delaware’s Public Company Appraisals Post-CKx

Brattle Principal Yvette Austin Smith has authored an article discussing Delaware’s public company appraisals following the CKx decision, using specific examples to demonstrate that petitioners and respondents continue to assert widely divergent values in appraisal cases.

February 23, 2017
Brattle Principal Elaine Buckberg Authors Op-Ed: "Trump’s Infrastructure Tax Credits—Lasting Legacy or Private Sector Giveaway?"

In his inaugural address, President Trump committed to “transform America’s crumbling infrastructure.” But his infrastructure plan, which would provide significant tax credits to companies that invest in the country’s infrastructure, provides few details.

February 23, 2017
Shaun Ledgerwood Featured in Risk.net article on FERC Manipulation Standards

Brattle Principal Shaun Ledgerwood has been featured in a Risk.net article that discusses the need for greater clarity around the U.S. Federal Energy Regulatory Commission’s (FERC) anti-manipulation standards.

February 22, 2017
Brattle Whitepaper on Benefits of Transportation and Heating Electrification Featured in Vox Article

A whitepaper recently released by Brattle economists on the role transportation and heating electrification could play in increasing utility sales and reducing carbon emissions has been featured in a February 22, 2017 Vox article.

February 17, 2017
Alexis Maniatis Elected to ICCA-ASIL Task Force on Damages in International Arbitration

Brattle President Alexis Maniatis was recently elected to serve on the International Council for Commercial Arbitration (ICCA) and American Society of International Law’s (ASIL) Task Force on Damages.

February 08, 2017
Brattle Economists Discuss Impact of Default Residential Time-of-Use Rates in Ontario in Public Utilities Fortnightly Article

Brattle economists examine the first system wide rollout of TOU in Ontario, Canada and find that customers do shift load from more expensive peak period, to the cheaper off-peak period.

February 01, 2017
Article by Brattle Principals on Damages Quantification for Solar PV Investors Published in Quotidiano Energia

Brattle Principals Dan Harris and Francesco Lo Passo have authored an article on the quantification of damages through arbitration by international investors of renewable energy projects, particularly solar photovoltaic (PV) plants.

February 01, 2017
Paper Examining Eco-Labels and Quality in the Organic Wine Market Featured in Business & Society

Do eco-friendly labels also send signals about product quality? Can these signals be detrimental to producers in some instances? Brattle Senior Associate Neil Lessem has co-authored a paper that investigates these questions in the context of the US wine industry.

January 31, 2017
Finance Expert Laurence Freed Joins The Brattle Group’s New York Office

The Brattle Group announced today that finance expert Laurence Freed has joined the firm’s New York office as a senior consultant.

January 24, 2017
Transportation and Heating Electrification Could Aid in Increasing Utility Sales and Reducing Carbon Emissions, According to Brattle Economists

Brattle economists released a whitepaper that shows the potential for U.S. utility sales to nearly double by 2050 while energy sector carbon dioxide (CO2) emissions could decrease by 70 percent or more through the electrification of transportation and heating.

January 23, 2017
Brattle Report Highlights The Economic Impact Of The Offshore Affiliate Reinsurance Tax

A report co-authored by economists at global consulting firm The Brattle Group finds that newly-proposed tax legislation aiming to defer the recognition of affiliated offshore reinsurance for U.S. tax purposes will negatively impact businesses and consumers in the United States.

January 20, 2017
Whitepaper by Brattle Economists Examines Effective Hedging Instruments for Renewable Resource Development

A whitepaper by Brattle economists examines how wind generators could use standard electric and gas forward contracts to hedge its revenue to reduce risk over mid- to long-term horizons.

January 20, 2017
The Brattle Group Recognized As One Of The World’s Top Firms For Competition Economics By Global Competition Review

For the 10th consecutive year, The Brattle Group has been named one of the world’s top firms for competition economics by Global Competition Review (GCR).

January 11, 2017
American Finance Association Announces 2016 Recipients of The Brattle Group Prize

The Brattle Group Prizes for best papers in Corporate Finance for 2016, judged to be exceptional by the associate editors of The Journal of Finance, were awarded at the 2017 American Finance Association's (AFA) Annual Meeting in Chicago, IL on January 6-8, 2017.

January 06, 2017
Pinar Bagci Contributes to Global Competition Review’s Handbook of Competition Economics 2017

Brattle Principal Pinar Bagci has authored the United Kingdom chapter of Global Competition Review’s (GCR) 2017 edition of the Handbook of Competition Economics.

December 21, 2016
Brattle Helps US Airways Secure Antitrust Jury Trial Win

In the recently concluded jury trial US Airways Inc. v. Sabre Holdings Corp. et al, The Brattle Group assisted attorneys from O’Melveny & Myers to secure a favorable verdict on behalf of US Airways.

December 19, 2016
Nuclear Retirements Could Lead to Significant Increases in Short- and Long-Term Carbon Emissions, According to Brattle Economists

A whitepaper by Brattle economists finds that the vulnerability of some U.S. nuclear power plants to premature retirement could create a major threat to the attainment of carbon dioxide (CO2) reduction.

December 16, 2016
Tax Reform Task Force Blueprint Could Lead to Increase in Domestic Retail Prices of Gasoline and Diesel Fuel, According to Brattle Whitepaper

A whitepaper released today by leading energy and commodities expert Philip Verleger and economists at The Brattle Group finds that the U.S. House of Representatives’ Tax Reform Task Force Blueprint (the Blueprint) would lead to an increase in the domestic price of crude oil.

December 16, 2016
Brattle Team Contributes to Case Win Featured as the American Antitrust Institute Litigation Achievement of the Year

In the multidistrict litigation case, In Re: Municipal Derivatives Antitrust Litigation, Brattle was retained by the Plaintiffs’ counsel, including attorneys from Boies, Schiller & Flexner LLP, Hausfeld LLP, and Susman Godfrey LLP, to conduct relevant economic and empirical analyses.

December 12, 2016
Management Accounting Expert Shannon W. Anderson Affiliates with The Brattle Group

The Brattle Group is pleased to announce that Shannon W. Anderson has joined the firm’s growing network of internationally renowned experts as an academic advisor.

December 08, 2016
Renewable Generation Investments are Quickly Eclipsing RPS Mandates, Facilitated by Regional Markets, According to Brattle Economists

Brattle economists have released a presentation that shows the U.S. electric power industry has been investing in renewable resources well beyond states’ renewable portfolio standards (RPS) and targets.

December 01, 2016
Brattle Economists Submit Comments in Response to FERC Notice of Inquiry on Utility Merger Reviews and Market-Based Rate Applications

Principals Romkaew Broehm and James Reitzes, and Senior Associate Jeremy Verlinda have recently submitted comments to the Federal Energy Regulatory Commission (FERC) in response to the Commission’s Notice of Inquiry (NOI) on Analysis of Modifications to Commission Requirements for Review of Transaction Under Section 203 of the Federal Power Act and Market-Based Rate Applications under Section 205 of the Federal Power Act.

November 28, 2016
Report by Brattle Economists Examines Implications of Carbon Allowance Allocation Approaches under Clean Power Plan

A report by Brattle consultants examines the economic and policy implications of different carbon dioxide (CO2) allowance allocation approaches under the Clean Power Plan’s (CPP) mass-based standard and/or carbon-cutting programs.

November 22, 2016
Brattle Economists Co-Author Article for Global Arbitration Review on Damages in Competition and Antitrust Arbitrations

Brattle Principals Carlos Lapuerta and Richard Caldwell have co-authored an article published in Global Arbitration Review’s (GAR) Guide to Damages in International Arbitration that addresses issues relevant to the calculation of damages from competition claims.

November 16, 2016
Including New Gas-Fired Combined Cycle Plants in State Clean Power Plan Compliance Could Lower System Costs of Achieving Carbon Reduction Goals, According to Brattle Economists

A report issued by Brattle consultants examines the potential implications for competitive wholesale electricity markets if new gas-fired combined cycle (CC) plants are not covered under the Clean Power Plan’s (CPP) mass-based state implementation plans (SIPs).

November 11, 2016
Marketing and Statistics Expert Greg Allenby Affiliates with The Brattle Group

The Brattle Group is pleased to announce that Greg Allenby has joined the firm’s growing network of internationally renowned experts as an academic advisor.

November 01, 2016
Report by Brattle Economists Reviews Market Power Mitigation Mechanisms for Wholesale Electricity Market in Western Australia

A report authored by Brattle economists evaluates mechanisms for mitigating market power in the reformed wholesale energy market scheduled for July 2017 implementation in Western Australia’s South West Interconnect System.

October 24, 2016
Achievements of Principal Stewart Myers Recognized in Journal of Finance Article

Brattle Principal Stewart Myers, the Robert C. Merton (1970) Professor of Finance, Emeritus at the MIT Sloan School of Management, been recognized in a feature article appearing in the October 2016 issue of The Journal of Finance.

October 19, 2016
Brattle Economists Contribute to City of New York’s Roadmap to 80 x 50 Report

A team of Brattle consultants has contributed to the recently released report, “New York City’s Roadmap to 80 x 50,” published by the New York City Mayor’s Office of Sustainability.

October 11, 2016
Life Insurance Industry’s Patient Capital is a Driver of Economic Growth and Stability, According to Report by Brattle Economists

A report co-authored by Brattle economists finds that the life insurance industry is a critical driver of economic growth that helps provide stability for the U.S. economy while delivering financial protection to millions of American families, including those most vulnerable to falling below the poverty line.

October 05, 2016
Report on Natural Gas Pipeline Integration Featured in The Australian Financial Review

A report authored by Brattle economists on behalf of APA Group was recently quoted in an article in the October 5, 2016 issue of The Australian Financial Review.

October 03, 2016
Finance Expert Elaine Buckberg Joins The Brattle Group From U.S. Treasury Department

The Brattle Group announced today that finance expert Dr. Elaine Buckberg has joined the firm’s Washington, DC office as a principal.

September 12, 2016
Brattle Consultants Contribute to Significant Win for the State of California on Energy Crisis Tariff Violations

Testimony by Brattle consultants contributed to a favorable outcome for the State of California in a recent decision by the U.S. Court of Appeals for the Ninth Circuit, which upheld a ruling by the Federal Energy Regulatory Commission (FERC) finding that several electric power sellers committed tariff violations during the California Energy Crisis in the summer of 2000.

September 06, 2016
Economists Help Secure Favorable Outcome for Alaskan Refiners in Appellate Court Decision on Trans Alaska Pipeline Dispute

Oil expert Dr. Philip Verleger, working with Brattle Principal Darrell Chodorow, helped to obtain a favorable outcome for Alaskan refiners in an August 30, 2016 decision handed down by the United States Court of Appeals for the District of Columbia Circuit.

September 01, 2016
Brattle Economists Discuss Importance of Improved Transmission Planning in Brink Article

Hannes Pfeifenberger, Judy Chang, and Onur Aydin have authored an article published on Brink that examines the need for improved transmission planning that increases flexibility to comply with evolving future regulations, while meeting anticipated policy goals at lower costs and lower risks for customers.

August 30, 2016
Paper by Torben Voetmann Investigates Bid-Ask Spread in Danish Stock Market

Brattle Principal Torben Voetmann recently authored a paper investigating the cost components of the bid-ask spread and the changes in the spread around earnings announcements on the small Danish stock market in the 1990s.

August 24, 2016
The Brattle Group Recognized as One of the 10 Best Consulting Firms to Work For By the Vault

The Brattle Group has been recognized as one of the 10 best consulting firms to work for in the 2017 Vault Consulting 50. For the third consecutive year, Brattle ranked highest among all economic consulting firms.

August 23, 2016
Report by Brattle Economists Quantifies Economic Benefits Associated with Natural Gas Pipeline Integration

A new report authored by Brattle economists on behalf of APA Group reviews integration in APA’s pipeline operations in Eastern Australia since the acquisition of Epic Energy in December 2012, and identifies the economic costs and benefits associated with integration.