Serena Hesmondhalgh
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principal
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London
Dr. Hesmondhalgh has worked as a consultant in the energy sector for more than 20 years, predominantly in the electricity and gas sectors.
Her expertise includes litigation and arbitration, commercial damages, competition cases, asset valuation, the design of trading arrangements, and price controls.
In recent years she has provided expert testimony for more than 10 gas contract arbitrations, primarily in northwestern Europe, as well as in relation to billing system problems, electricity contracting restrictions, and warranty violations for a power station. Many of these projects involved detailed modeling of electricity or gas markets.
Dr. Hesmondhalgh has also worked extensively with EU energy regulators, particularly in Great Britain, on competition and regulation issues. She has been involved with many of the investigations into potential electricity market abuse undertaken by the GB regulator. In addition, she has provided advice on the redesign of trading arrangements (GB, the Netherlands, Belgium), transmission network access (GB, Greece), market monitoring, quality of supply obligations (GB, Germany, Australia), and price controls and incentives (GB, Germany, Australia).
Dr. Hesmondhalgh’s modeling skills have also been used to develop a range of tools for asset valuation including electricity dispatch modeling, power plant asset valuation, price control revenue assessments, interconnector trading arrangement impacts, and pan-European gas flows.
Kernfysisch Versneller Instituut, Groningen, The Netherlands, Post-doctoral fellow
Oxford University, DPhil in Nuclear Physics
Sussex University, BSc in Physics with Mathematics
Wellesley College, Massachusetts, Scholarship diploma
Testimony
Acted as an independent expert in a planning enquiry relating to the construction of a new gas storage facility in Cheshire. Explored the extent to which forward gas prices signaled a need for new gas storage facilities and whether potential developments in the electricity market could increase the need for storage
Acted as an independent expert in a UK High Court claim for damages in relation to billing problems following the implementation of a new electricity billing system for a major UK utility. Analysed the level and duration of billing problems that could be attributed to the new system
Acted as an independent expert in a UK High Court claim for misrepresentation and breach of contract concerning an allegation that the client’s refusal to allow a third party to sell back electricity or terminate its contract caused damages
Acted as an expert witness for a gas purchaser in eastern Europe in relation to a gas contract arbitration and four subsequent price reviews. Provided evidence covering the value of gas in the target market, and an analysis of the margins earned by the gas purchaser. The findings of the Arbitral Tribunal effectively confirmed all her analyses
