The Brattle Group frequently advises applicants, third parties, and competition authorities on mergers and acquisitions in the energy sector. We have presented expert testimony and findings on the potential competitive impacts of vertical and horizontal mergers involving electric and natural gas businesses before regulators and antitrust enforcement agencies in North America and the European Union. We have appeared before the U.S. Federal Trade Commission, the U.S. Federal Energy Regulatory Commission, the Surface Transportation Board, the Securities and Exchange Commission, the U.S. Department of Justice, various state commissions, the Canadian Competition Bureau, the Dutch Competition Authority, the European Commission, and the German Federal Cartel Office.

We use a variety of economic analyses, including a “Delivered Price Test,” the Cournot Model, and detailed simulation models to analyze a proposed merger’s effect on the market participant’s ability and incentive to exercise market power. Our knowledge and experience in energy regulation and antitrust economics, combined with our use of state-of-the-art simulation models and statistical techniques, allows us to provide reliable qualitative and quantitative assessments of the likely competitive impact of mergers and acquisitions.

January 26, 2017
Presented at the Electric Utility Consultants, Inc. (EUCI) conference, “Financial Transmission Rights (FTRs/CRRs/TCRs)”