Kurt G. Strunk



New York City
Tel: +1 212 345 5035
Fax: +1 212 345 4650

Email: kurt.strunk@nera.com
vCard: Download


MBA, with Distinction, The European Institute of Business Administration (INSEAD)
BA in economics, with Honors, Vassar College


Mr. Strunk is an expert on energy sector matters. He serves as a testifying expert in regulatory proceedings, commercial litigation, and arbitration proceedings. In North America, he has been retained as an expert to testify before the Federal Energy Regulatory Commission, US Tax Court, US Federal Court, US Bankruptcy Court, and the National Energy Board in Canada, as well as before state and provincial public utilities boards in both the US and Canada. His testimonies have addressed the application of the just and reasonable standard, prudence, cost of service, regulatory reform, asset and contract valuation, cost of capital, pipeline access, and retail market issues. He has served as an advisor in more than 50 public utility rate cases.

In electric power, Mr. Strunk has advised governments, regulators, and energy companies on industry structure, regulation, and sector reform in North America, South America, Europe, Australia, Asia, and Africa. He has worked extensively on matters related to all aspects of the electric power sector, including generation, transmission, distribution, and retailing. With regard to transmission, he has advised on the design of transmission tariffs and on the design of electricity markets to encourage efficient transmission investment. In generation, Mr. Strunk recently co-authored a fairness opinion addressing a 6,300 MW nuclear power transaction in Ontario, Canada. He has advised Mexico's Comisión Federal de Electricidad on the development of its independent power program, its infrastructure contracts, fuel supply arrangements, and competitive solicitations. In the Republic of Ireland, Mr. Strunk advised the Commission for Energy Regulation on the development of a solicitation and contractual framework for the construction of a 400 MW power generation facility, including gas supply. Over the past two decades, he has consulted on various phases of Mexico's electric sector reform program and associated power market design.

In the oil and gas sectors, Mr. Strunk has advised companies on rate matters, mergers, and acquisitions, restructurings, contract disputes, and product pricing. He served as an expert in regulatory hearings relating to gas transportation tariffs in Canada and the US. He has conducted numerous analyses to determine the economic value of gas and petroleum swaps, and has carried out studies of the reasonableness of gas supply agreements in various jurisdictions. He has also valued oil and gas assets, and assessed damages in litigated disputes on behalf of major firms in the petroleum sector.

Mr. Strunk's assignments often require that he determines the appropriate return on equity capital for energy firms. He has calculated and supported required rates of return for power generators, gas distribution utilities, electric distribution, and transmission companies, and other energy firms in the context of traditional tariff reviews for regulated entities, litigation, and advisory work. Mr. Strunk frequently collaborates with NERA's Securities and Finance Practice, for which he has addressed liability and damages in broker-dealer disputes, and in securities class actions.

Title Type Author
Could Mexico’s Capacity Market Design Lead to Gaming by Generators? Published Article Kurt G. Strunk and Willis Geffert
NERA Electricity Insights | Q1 2018 Report Scott J. Bloomberg
NERA Electricity Insights | Q4 2017 Report By Scott J. Bloomberg
NERA Electricity Insights | Q3 2017 Report By Scott J. Bloomberg
Beyond net metering: A model for pricing services provided by and to distributed gene... Published Article By Kurt G. Strunk and Willis Geffert
Interest Rates After the Election: What They Mean for Public Utility Returns Published Article By Kurt Strunk and Walter Hopkins
The Decoupling of Treasury Yields and the Cost of Equity for Public Utilities Brief By Kurt G. Strunk
FERC's U-Turn on Transmission Rate Incentives Working Paper Kurt Strunk with Julia Sullivan, Partner at Akin Gump Strauss Hauer & Feld LLP
Energy Policy Briefing Note: The Real Costs of Eliminating Unsecured Credit Lines and... Regulatory Filing Kurt Strunk et. al.
Cost-Benefit Analysis of the CFTC's Proposed Swap Dealer Definition Report Kurt Strunk et. al.