Richard Druce

Education

MPhil in economics, St. Catharine's College, Cambridge
BSc in economics and econometrics, University of Bristol

Experience

Richard Druce is an expert in the energy and water sectors. He supports regulated utility and infrastructure companies, their legal advisors and investors, and sector regulators on the design and implementation of competitive markets and the regulation of natural monopolies.

Much of Mr. Druce’s work involves supporting utilities and other infrastructure companies in the course of price control reviews, during which he works on incentive design, cost-benefit analysis, cost assessment and benchmarking, and regulatory finance issues.

Mr. Druce also works on a range of market design and network charging issues in the electricity, gas, and water sectors. He has worked extensively on transmission and distribution tariff design, power market modelling exercises, and the economic challenges associated with renewable energy, distributed energy resources, and “smart grids.” Recently, he has developed new electricity tariffs to recognize the impacts of renewable energy deployment, advised on likely future changes in power market design promoted by decarbonization, and developed contractual structures to enhance competition and trade in the water sector. 

In environmental economics, Mr. Druce has conducted numerous survey-based studies to value non-market goods, analyzed the economic impacts of changes in oil and gas production policy on market outcomes and greenhouse gas emissions, and advised on the development of green certificate schemes.

Mr. Druce has served as an expert witness in proceedings before the English High Court, in appeals to the UK Competition and Markets Authority, and in proceedings before the Alberta Utilities Commission. His work has spanned a wide range of geographies, including the UK and Ireland, Continental Europe, the Middle East, Australia, and Asia.