Alon Carmel

Senior Consultant


Tel: +44 20 7659 8628
Fax: +44 20 7659 8501

Email: alon.carmel@nera.com


MSc in economics, University of London
MSc in international relations, London School of Economics
BA (Hons.) in PPE (philosophy, politics, and economics), University of Oxford


Alon Carmel is a Senior Consultant in NERA's Global Energy, Environment, Communications & Infrastructure Practice and is based in London. He has more than 10 years of experience in energy and carbon markets, covering transaction support and risk analysis for investors, contractual disputes, as well as policy and market design. Mr. Carmel also holds a position as Visiting Fellow at the London School of Economics (LSE) Grantham Research Institute on Climate Change and the Environment.

Mr. Carmel has advised offshore wind investors on the cost of capital and bid strategy in renewable energy auctions; energy companies, consumer groups and public sector institutions on renewable energy auction design; network investors on regulatory risks and financing costs; the Green Investment Bank (GIB) on evaluating its impact on financing green infrastructure; the UK Committee on Climate Change (CCC) on grid-integration of renewable energy; and the Danish Government on the economic impacts from the circular economy. He has advised law firms on damages estimation in energy disputes, and acted as an expert witness on energy markets and policy.

Prior to joining NERA, Mr. Carmel was a senior economist and policy advisor for the UK Department of Energy and Climate Change (DECC, now BEIS), where he led several policy design workstreams within the Electricity Market Reform programme, including Contracts for Difference (CfDs) for renewables, nuclear and carbon capture and storage (CCS), auctions for renewables, and a financial envelope for low-carbon subsidies (negotiated with H M Treasury) in the Levy Control Framework. In earlier roles, Mr. Carmel developed the UK’s negotiating positions on greenhouse gas emissions targets for countries such as the US and China within the UN Framework Convention for Climate Change (UNFCCC).  He was an economic advisor at the UK Department for Transport (DfT) on environmental issues (including the Stern Review on the Economics of Climate Change) and productivity issues (including the Eddington Review). From 2003 to 2006, Mr. Carmel worked for the Greater London Authority economics unit on infrastructure projects such as Crossrail and the Congestion Charging scheme, as well as on macroeconomic forecasting and analysing the retail and tourism sectors. 




Title Type Author
Offshore Revolution? Decoding the UK Offshore Wind Auctions and What the Results Mean... White Paper By Daniel Radov, Alon Carmel, and Clemens Koenig
Renewable Auctions in Italy: Learning from the Experience in the UK and Germany Published Article Daniel Radov, Marco Schönborn, Alon Carmel, and Dominik Hübler
Hurdle Rates and the Cost of Capital for Financing Electricity Generation in the UK Study By Dr. Richard Hern, Daniel Radov, Alon Carmel, Marija Spasovska, and Jinzi Guo
Gale Force Competition? Auctions and Bidding Strategy for Offshore Wind White Paper Daniel Radov, Alon Carmel and Clemens Koenig
UK Renewable Subsidies and Whole System Costs Report By Daniel Radov and Alon Carmel
Modelling the GB Renewable Electricity CfD Auctions – the cost of excluding onshore w... Report By Daniel Radov, Richard Marsden, Alon Carmel, George Anstey, Sam Forrest, Konrad Borkowski, and Dr. Clemens Koenig
System Integration Costs for Alternative Low Carbon Generation Technologies – Policy ... Report By Richard Druce, Alon Carmel, and Konrad Borkowski