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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.
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, Dominik Hübler, and Rachel Northcutt have been promoted to Managing Director.
Mr. 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. Mr. Cardona has also given testimony at regulatory hearings in front of the New Jersey Board of Public Utilities and has vast experience drafting full factual reports delivered to various state utility commissions.
Mr. Hübler advises on energy, transport, and digital infrastructure markets and regulation and data valuation matters. Across these sectors, he applies regulatory, industrial, and financial economics and valuation to litigation, arbitration, and regulatory cases, as well as complex transactions. His most recent transaction experience covers TenneT Germany (Europe’s largest energy deal of 2025), Heathrow Airport, and one of Europe’s largest LNG terminals. In regulation, he has advised on auction and supports schemes for renewables, with a particular focus on offshore wind and biomethane and the (re)-design of regulatory frameworks and support schemes for carbon capture and storage (CCS), hydrogen, and traditional utilities. Mr. Hübler’s recent disputes-related work has involved class actions related to data loss and privacy breaches under Article 82 of the General Data Protection Regulation (GDPR), disputes over data access terms, investor-state arbitrations relating to changes in renewable energy frameworks, and consumer protection disputes, including around energy pricing.
Ms. Northcutt works closely with electric utilities and government agencies concerning the design, implementation, and management of competitive procurements for renewable energy, wholesale energy, capacity, and full requirements electric supply. Ms. Northcutt has experience managing descending and ascending clock auctions, as well as sealed-bid auctions, for clients primarily within the PJM Interconnection and MISO regional transmission organizations. She has provided regulatory support and prepared numerous regulatory filings on behalf of her clients in New Jersey and Ohio. She has also provided testimony and presented to the New Jersey Board of Public Utilities in support of an annual statewide auction process for full requirements electric supply in New Jersey. Ms. Northcutt 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.