Director,
London
Energy, Environment, and Network Industries Practice
MPhil in Economics,
Oxford University
The NERA environment in ten words or less:
People are studious and helpful to colleagues. My office? Untidy!
On my career growth:
I joined NERA over 20 years ago as an Analyst. I am now a Director at the head of a team, a member of NERA’s board, and head of the London office. My mentors—and there have been several throughout the years—taught me many important lessons about being a good consultant. The most memorable of those lessons is that any problem can be solved by being rational, dispassionate and transparent. Some of my colleagues have helped me by offering the experience of similar theoretical problems in other regimes; some have just been able to tell me how to reply calmly and effectively to an aggressive expert (or client). Both types of advice have proved invaluable to the development of my practice.
On what I do here:
I help energy companies in disputes over the prices for energy and for use of energy networks. I was allocated to the energy sector a few weeks after arriving at NERA, and never left! Clients only ever come to us with difficult problems that other people can’t solve. These problems change all the time and constantly require new approaches. I began by helping to design new electricity markets, but now I help market participants to deal with disputes over market rules and contract terms. I was also involved with the earliest forms of “price cap” regulation, from which developed a business applying economic principles (everything from inflation-adjusted accounting to game theory) to the regulation of energy networks with long-lived assets. It’s a challenging and rewarding kind of work.
On my first big project:
I helped to design the Electricity Pool of England and Wales. It was a long, drawn-out negotiation in committee rooms. It was fascinating to see how economic principles always provided a stronger position than simple, but arbitrary accounting rules. At that time, there was a tendency to rely too much on rules for allocating accounting costs, regardless of the associated incentives. By sticking to economic principles based on opportunity costs, my colleagues and I helped to establish a model for competitive electricity markets, which have since been adopted in one form or another in many countries.
My typical week by the numbers:
Five different projects, four challenging decisions, three days in the office, two client meetings, and one flight to Europe. I am always busy.
What I admire about my colleagues:
I admire their determination to set down the right answer based on rigorous and objective analysis that is informed by global experience. I also admire those who are able to do this with fun and good humour throughout the day – these are the truly professional consultants!
On the advice I’d give to a prospective colleague:
This is a place filled with knowledge. Connect with your colleagues—locally and around the world. Ask questions. Share ideas. Solve problems together. There is so much to learn from working with such a talented group.
