Graham Shuttleworth

Affiliated Consultant


Tel: +44 20 7659 8654
Fax: +44 20 7659 8501

Email: graham.shuttleworth.affiliate@nera.com
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MPhil in economics, Balliol College, Oxford University
MA (Hons. Double First Class) in economics, King's College, Cambridge University


Mr. Shuttleworth is an expert on the economics of network regulation, market rules, and contract design in the electricity and gas sectors. Other areas of expertise include transmission pricing, network access rules, and competition in energy markets.

Mr. Shuttleworth has directed projects on restructuring, market design, transmission pricing, and regulation. He has worked in countries throughout Europe, as well as in Australia, Asia, and Latin America. He has provided expert reports for regulatory hearings, contract arbitrations, and disputes over property taxes ("rates"), and has appeared as an expert witness before a number of panels, arbitrators, and tribunals, including ICSID, the Scottish Court of Sessions, and the Lands Tribunal.

Selected Industry Experience:

  • Explained the principles of regulation and their application to network connections, in an arbitration over connection charges between a generator and a network company
  • Expert report explaining the flaws and arbitrary choices inherent in the Dutch competition authorities' use of energy market models to justify conditions imposed on a merger, in an appeal court case that eventually led to the withdrawal of the conditions
  • Expert report and testimony before the Lands Tribunal, explaining the interaction of coal producers and electricity generators in the late 1980s
  • Expert report for a Judicial Review of the decision by the regulatory authority to change the allocation of transmission losses among electricity generators and suppliers, leading to reversal of the decision

In 1988, Mr. Shuttleworth's involvement in energy sector restructuring began with an assignment to help write the Pool Rules for the new electricity market in England and Wales. The resulting Electricity Pool for England and Wales operated from 1990 until 2001. In 1996, he co-authored a book on the methods of introducing competition and choice in electricity markets. He has written many other articles for journals and energy sector reviews. Since then, he has directed a wide variety of energy sector projects, for both government agencies and energy companies, on energy sector restructuring, market and contract design, and network regulation.



Title Type Author
Central Control and Competition in the British Electricity Industry – There and Back ... Published Article Graham Shuttleworth
The Capacity Remuneration Mechanism in the SEM Study By Graham Shuttleworth, George Anstey, and Matthew Mair
The latest market reforms reduce the apparent need for STOR Published Article By George Anstey and Graham Shuttleworth
Retail Energy Markets: Government Ignores Economics At Its Peril Published Article By Graham Shuttleworth and George Anstey
The Costs of the Energy Company Obligation Report By Graham Shuttleworth, George Anstey, and Matthew Mair
Ofgem's Proposed Final Decision on Gas Cash-Out Reforms Report By Graham Shuttleworth and George Anstey
Irish Supreme Court Restores Common Sense to the Single Electricity Market Published Article By Graham Shuttleworth and George Anstey
Irish Supreme Court Restores Common Sense to the Single Electricity Market Brief By Graham Shuttleworth and George Anstey
Asymmetrical Price Response in Energy Supply: A Review of Ofgem's Analysis Report By Graham Shuttleworth
Electricity Market Reform: Assessment of a Capacity Payment Mechanism Report By Graham Shuttleworth, Sean Gammons, Vakhtang Kvekvetsia, Richard Druce, and Robin Brejnholt