Richard Druce



Tel: +44 20 7659 8540
Fax: +44 20 7659 8541

Email: richard.druce@nera.com
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MPhil in economics, St. Catherine's College, Cambridge
BSc in economics and econometrics, University of Bristol


Richard Druce is a Director in NERA's Global Energy, Environment, Communications and Infrastructure Practice. He specializes in regulatory issues in the utilities and infrastructure industries, as well as valuation and due diligence, competition policy, litigation, and public policy.

Much of his work involves supporting regulated utilities and other infrastructure companies in the course of price control reviews, during which he works on incentive design, cost-benefit analysis, valuation and willingness-to-pay studies, cost assessment and benchmarking, and regulatory finance issues.

Mr. Druce also works on a range of electricity and gas market design and network charging issues. He has worked extensively on electricity transmission and distribution charging issues, gas infrastructure access pricing, electricity market modeling exercises, and market reform engagements related to the economic challenges associated with climate change and “smart grid” deployment.

He has served as an expert witness in proceedings before the English High Court, as well as during an appeal to the UK Competition and Markets Authority. His work has spanned a wide range of geographies, including the UK, Ireland, countries across Western, Central, and Eastern Europe, Turkey, the Middle East, Africa, and Asia. 

Mr. Druce holds an MPhil degree in economics from St. Catharine's College, Cambridge, where he specialized in microeconometrics and industrial organization. He also holds a first class degree in economics and econometrics from the University of Bristol.


Title Type Author
A RAB Model for New Nuclear Power Plants: The Economics of Investment Incentives Published Article By Sean Gammons, George Anstey, and Richard Druce
Why PFI Holds No Lessons for Utility Regulation White Paper By Sean Gammons, Richard Druce, and James Grayburn
Helm’s Wishful Thinking on Energy Policy: Repeating Past Mistakes, Expecting Differen... White Paper Sean Gammons, George Anstey, and Richard Druce
Review of Ofgem’s Open Letter on Charging Arrangements for Embedded Generation Report By Richard Druce, Laura-Lucia Richter, et al.
Making Flexibility Pay: An Emerging Challenge in European Power Market Design White Paper Richard Druce, Stephen Buryk and Konrad Borkowski
Modelling the Impact of Zonal Transmission Loss Multipliers Report Sean Gammons and Richard Druce
Reflections On the Successes of RIIO And the Scope for Future Improvement Published Article By James Grayburn and Richard Druce
Engineering Recommendation P2 Review Workstream 2.7 Report Richard Druce
The Role of Nuclear Power in the Middle East Electricity Industry White Paper By Richard Druce
System Integration Costs for Alternative Low Carbon Generation Technologies – Policy ... Report By Richard Druce, Konrad Borkowski, et al.