The energy sector is at the core of our competition and regulatory experience. Through 20 years of advising in the EU energy sector we have gained unrivalled expertise in the application of antitrust analysis in electricity, gas, and oil markets. We routinely provide economic analysis, regulatory and consulting advice, and expert testimony as part of market reviews, competitive effects analysis, antitrust investigations, mergers and joint ventures, and state aid.
In Europe we have advised clients in connection with almost all of the major EU electricity and gas merger investigations heard before the European Commission and other national regulators over the past 15 years. In these proceedings, we undertook detailed economic and financial analysis of market structure, prices and competitive effects, and prepared written and oral testimony to support the legal case team.
We have advised on mergers, antitrust, and regulatory investigations throughout Europe. We have presented our analyses in written and oral testimony before the European Commission, the Court of First Instance, and the national competition authorities throughout Europe.
We advised large energy companies in several EU countries in connection with European Commission investigations of whether artificially low regulated tariffs or negotiated prices could constitute illegal state aids. This entailed detailed economic and financial analysis, including modeling the domestic electricity market and preparing a financial valuation model. Our economic analysis and written testimonies underpin the client’s legal case.
For a utility company in Italy, members of The Brattle Group prepared a report assessing competition implications over joint selling (bundling or tying in economic terms) strategies in gas and electricity markets. The report aimed to advise the client, a dominant supplier in the Italian electricity market, on whether the Italian competition authorities could block a potential transaction that would allow the client to jointly sell gas and electricity in the Italian market.
Members of The Brattle Group have written reports concerning appropriate government policies and regulations for the natural gas and electricity market for organizations such as the European Commission, the Council of European Economic Regulators, as well as the energy regulators of the United Kingdom, Ireland, Austria, Belgium, Greece, the Netherlands, France, Italy, and Spain.
Members of The Brattle Group provided an independent opinion concerning the effect of the proposed transaction between E.On and Mol on the Hungarian natural gas and electricity markets. We reviewed the European Commission’s Statement of Objections and found a number of problems with the Commission’s analysis on issues such as the lack of competition and potential discrimination by the merged entity of its businesses. We also advised on the design of merger remedies, which included the release of physical and virtual gas capacity in the Hungarian gas market.