Dr. Albert Bremser

Senior Consultant


Washington, DC
Tel: +1 202 466 9222
Fax: +1 202 466 3605

Email: al.bremser@nera.com
vCard: Download


PhD in Finance, Virginia Tech
MBA, University of Pittsburgh
BS in Commerce, University of Virginia
Chartered Financial Analyst® (CFA®) charterholder


Dr. Albert Bremser has more than 20 years of experience providing expert services before energy regulatory agencies and within commercial disputes. Dr. Bremser applies economic, finance, and accounting principles to regulatory matters that typically involve regulated and unregulated energy industries. In addition, he assists clients with the estimation of economic damages within commercial disputes. 

Prior to joining NERA, Dr. Bremser was at the Federal Energy Regulatory Commission (FERC) in the Office of Administrative Litigation as a member of FERC Trial Staff from 2015 to 2019. He participated in settlement and hearing proceedings regarding tariff rate and non-rate tariff issues involving crude oil and refined product pipelines, electric transmission, electric generation, and electric generator-based reactive power. On behalf of FERC Trial Staff, Dr. Bremser filed written testimony on numerous occasions, was offered for cross-examination at hearing three times, and has been deposed twice. In FERC Opinion No. 574 (Panda Stonewall LLC), the Commission specifically discusses the judge’s view articulated in the initial decision that Dr. Bremser’s testimony was persuasive in one of the topical areas on which he testified, specifically cost allocation. The Commission also affirmed other testimony provided by Dr. Bremser related to the appropriate return on rate base and other items.

Dr. Bremser has testified on cost-of-service issues involving cost allocation of operating expenses and capital expenditures (variable and fixed costs; direct and indirect costs), reasonableness of allocation methods, reasonableness of cost information, and return on rate base. For return on rate base, he has testified on return on equity (ROE), cost of debt, capital structure, risk, proxy group selection, ROE determination methods, income tax allowance, and dividend policy.

Dr. Bremser has assisted clients in many regulatory engagements involving crude oil, refined products and natural gas liquids (NGLs) pipelines, which includes analysis of cost-of-service tariff rates, settlement tariff rates, and market-based rate applications. He has prepared cost-of-service filings and conducted rate design analyses.

Dr. Bremser has conducted historical and forward-looking costing analyses for other industries including electric generation and transmission services, and railroads. He has experience with a variety of electric generation resources such as solar, wind, natural gas-fueled (combined cycle and combustion turbine), coal, and nuclear. Dr. Bremser has experience with railroad matters for regulatory and commercial disputes, including analysis of stand-alone costs and variable costs, as well as other financial analysis including discounted cash flow analyses, rate of return, and cost of capital-related areas.

Dr. Bremser routinely conducts economic and financial analysis for commercial disputes for economic damage quantification due to alleged breach of contract in industries such as merchant electricity generation, natural gas storage, crude oil, mining equipment, and automotive parts. He has additional experience before the Department of Commerce and the US International Trade Commission, as well as within other cases involving intellectual property.

Dr. Bremser has taught finance courses at Virginia Tech. He has published articles in the Journal of Legal Economics.  

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