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New York City, New York—NERA, a leading global provider of economic advice and analysis in business, legal, and regulatory matters, is pleased to announce Paul Cardona, Rasmus Jørgensen, Sungi Lee, Rachel Northcutt, Asta Sendonaris, and Julia C. Williams have been promoted to Director. In addition, Francisco Álvarez, Tuba Toru Delibasi, Gaurav Ganguly, Taku Masuda, Mark Ponder, and Patricio Suarez Urtaza have been promoted to Senior Consultant. Sabrine Abdeladim, Emma Howard, Ramisa Roya, and James Verhagen are now Consultants.

Paul Cardona works extensively with utilities and government agencies on matters related to the design and implementation of auctions and competitive bidding processes for the purchase of wholesale power, full requirements supply, capacity, and renewable energy. Mr. Cardona uses his expertise to help clients meet their energy procurement goals within the PJM Interconnection and MISO regional transmission organizations. His work spans the entirety of the purchase process, from guiding clients through regulatory proceedings to contract execution.

Rasmus Jørgensen provides economic and statistical analysis for complex intellectual property and antitrust litigation in a variety of industries, including pharmaceuticals and technology. He assesses lost profits, reasonable royalty, and economic damages in matters involving patent infringement, trade secret misappropriation, and breaches of contract. Dr. Jørgensen also analyzes damages, liability, competitive effects, and other factors in antitrust litigation concerning price fixing, monopolization, and more.

Sungi Lee is a securities and finance expert economist. His experience includes damages, valuation, mergers and acquisitions, bankruptcy, and class certification matters in state and federal litigation, mediation, and arbitration. Mr. Lee advises clients on fixed income securities, funds and portfolios, structured products, derivatives, and securitizations. He applies economic, financial, and accounting analysis to assess claims and allegations. In addition, Mr. Lee models, projects, and values claims and liabilities in product liability and mass torts cases, including asbestos, silica, coal mine dust, recalls, and automobiles, and transaction due diligence. Mr. Lee also supports academic experts in the preparation of expert reports, deposition, and trial testimony.

Rachel Northcutt works with utilities and government agencies concerning the procurement of renewable energy credits, as well as the procurement of wholesale energy, capacity, and full requirements supply through competitive bidding processes. Ms. Northcutt has assisted in managing competitive energy procurements and auctions throughout the US, including procurements for renewable energy from utility-scale solar and wind projects and brownfield projects. Ms. Northcutt also continues to manage an auction for the electric distribution companies of New Jersey, which has sold millions of solar renewable energy certificates since its inception.

Asta Sendonaris specializes in legal and regulatory matters, leading cross-functional teams in economic analyses and legal strategies. Dr. Sendonaris has a proven track record advising tech companies on international antitrust litigation and applying expertise in macroeconomics, antitrust, and business litigation.

Julia C. Williams advises pipeline and energy infrastructure clients on regulation and commercial matters. Her expertise includes oil and refined product markets, the economic analyses of pipeline rate regulation—including cost- and market-based ratemaking analyses for crude oil, refined products, and natural gas liquids pipelines—and evaluating competition issues. Ms. Williams’ analytical work has secured numerous successful regulatory determinations. She has extensive experience supporting pipeline clients before the FERC and state regulatory agencies in the US and in non-US jurisdictions and in court and arbitration matters.

Senior Consultants:

Francisco Álvarez is a trusted economist with over 10 years of experience applying economic analysis to regulatory issues in the energy sector. He specializes in the economics of energy markets and regulation, power market modelling, due diligence, and arbitration processes in the electricity and gas sectors in Spain. Mr. Álvarez’s clients include leading companies in the electricity sector and regulatory authorities, governments, and investors.

Tuba Toru Delibasi, who has over 10 years of experience in industrial organization and regulatory economics, provides actionable insights to governments and industry-leading firms in transport and other sectors, with a particular focus in air transport. With a strong background in quantitative analysis, she has provided expert economic analysis for a wide range of issues related to forecasting, impact assessment, regulation, litigation, and competition cases.

Gaurav Ganguly specializes in antitrust and competition economics, applying microeconomic theory and statistical and econometric analysis to evaluate firm behavior and market outcomes in sectors such as consumer products, retail, oil and gas, technology, and casino gaming. Mr. Ganguly is proficient in programming languages such as Stata, SAS, and SQL and utilizes ArcGIS mapping software with Python for geospatial competition analysis.

Taku Masuda specializes in antitrust and competition law and securities and valuation assessment. Dr. Masuda’s experience includes evaluating and supporting companies through regulatory examinations by authorities such as the Japan Fair Trade Commission and conducting quantitative analyses across various industries.

Mark Ponder specializes in economic analysis for mergers and acquisitions and antitrust litigation across diverse sectors including oil and gas, real state advertising, airport services, internet media, construction materials, food product wholesalers, and men’s apparel.

Patricio Suarez Urtaza is a trusted economist who advises clients on issues spanning regulatory and competition policy, due diligence, valuation, and international arbitration. Mr. Suarez Urtaza specializes in the challenges companies and governments face to meet the energy transition. In international arbitration, Mr. Suarez Urtaza has provided economic support in government-investor disputes before the International Centre for Settlement of Investment Disputes (ICSID).

About NERA

Since 1961, NERA has provided unparalleled guidance on the most important market, legal, and regulatory questions of the day. Our work has shaped industries and policy around the world. Our field-leading experts and deep experience allows us to provide rigorous analysis, reliable expert testimony, and data-powered policy recommendations for the world’s leading law firms and corporations as well as regulators and governments. Our experience, integrity, and economic ingenuity mean you can depend on us in the face of your biggest economic and financial challenges.