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1300 Eye Street NW
Suite 600
Washington, DC 20005

phone: 202.747.5972
fax: 202.408.7838

Jonathan A. Lesser, Ph.D.

Partner

Jonathan A. Lesser has 25 years of experience working for regulated utilities, government, and as an economic consultant. He has addressed critical economic and regulatory issues that affect the energy industry; these include gas and electric utility structure and operations, mergers and acquisitions, cost allocation and rate design, resource investment decision strategies, cost of capital, depreciation, risk management, incentive regulation, economic impact studies, and general regulatory policy.

Dr. Lesser has testified before utility commissions in numerous states, before the Federal Energy Regulatory Commission (FERC), before regulators in Mexico and Puerto Rico, in commercial litigation, and before numerous state legislative committees. He is the coauthor (with Dr. Leonardo Giacchino) of Fundamentals of Energy Regulation, which was published in 2007 by Public Utilities Reports, Inc. Dr. Lesser has written numerous academic and trade press articles and is a contributing columnist and Editorial Board member for Natural Gas & Electricity.

Ph.D., Economics, University of Washington; M.A., Economics, University of Washington; B.S., Mathematics and Economics (with honors), University of New Mexico

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Areas of expertise

Utility cost of capital

Regulatory policy

Cost allocation and rate design

Risk management

Market power

Asset valuation under uncertainty

Spotlights
Spotlights
Announcements
Jonathan Lesser and Leonardo Giacchino, Bates White Partners, publish new book: Fundamentals of Energy Regulation

Presentations
Economic and System Reliability Benefits of the Three Mile Island Generating Station

An Assessment of the Financial Performance Obligation Proposal by the American Forest & Paper Association

...all presentations
A Mean-variance Portfolio Optimization of California’s Generation Mix to 2020: Achieving California’s 33 Percent Renewable Portfolio Standard Goal (Report for the California Energy Commission, July 2007)

Financial Risks Faced by Regulated Utilities: Implications for the Cost of Capital and Ratemaking Policies

Alternative Regulatory Structures and Rate Tariff Mechanisms: Practical Approaches to Providing Low-Cost, Environmentally Responsible Energy and Avoiding Some Dangerous Pitfalls

Economics and Energy Regulation: Implications and Challenges for the Electric and Natural Gas Industries

...latest presentations only

Press releases
Three Mile Island shut down would be detrimental to Pennsylvania electricity consumers, according to Bates White study

Bates White economist, Jonathan Lesser, speaks on AF&PA FPO proposal at FERC conference

...all press releases
Bates White economists Jonathan A. Lesser and Leonardo R. Giacchino participate in LSI Utility Rate Cases seminar

Bates White economist Jonathan A. Lesser keynotes and hosts Ohio Energy Law Seminar

Bates White economist Jonathan A. Lesser to speak at Western Energy Institute Annual Meeting

Jonathan A. Lesser, Bates White economist, to present at LSI energy regulation conference

Command and Control Least Effective Approach to Environmental Issues, According to Bates White Energy Regulation Expert, Jonathan A. Lesser

Dr. Jonathan A. Lesser leads discussion of New England forward capacity market at national energy conference

Dr. Jonathan A. Lesser to speak at Energy in the Southwest 2006 Conference

Vermont Journal of Environmental law invites Dr. Jonathan A. Lesser to participate in its “Energy & the Environment” symposium

Mr. Boris Steffen and Dr. Jonathan Lesser testify in the merger proceedings of Exelon Corporation and Public Service Electric and Gas Company (PSEG)

Dr. Jonathan A. Lesser to present on economic impacts of energy regulation

Bates White publishes article on reliability markets in Public Utilities Fortnightly

Bates White Principal Dr. Jonathan A. Lesser published in major utility journal

Energy expert Dr. Jonathan A. Lesser presents at Northeast Public Power Association’s 2004 Annual Conference

Dr. Jonathan A. Lesser joins Bates White’s Energy Practice

Dr. Jonathan A. Lesser to deliver presentation on the economics of energy regulation
...latest press releases only

Publications
New Source Review Is Still Anything but Routine

PV vs. Solar Thermal

...all publications
Cap and Trade for Gasoline?

Report of the Independent Expert in the Matter of the Public Utilities Commission Initial Decision in the 2008 Annual Review Proceeding for Belize Electricity Limited

Seeing Through a Glass, Darkly, Banks Approach Coal-Fired Power Financing

Déjà Vu All Over Again: The Grass Was Not Greener Under Utility Regulation

Energy Independence and Security Act of 2007: No Subsidy Left Behind

Control of Greenhouse Gases Difficult with Cap-and-Trade or Tax-and-Spend

Blowin’ in the Wind: Renewable Energy Mandates, Electric Rates, and Environmental Quality

No Leg to Stand On

Goldilocks Chills Out

Goldilocks and the Three Climates

Command and Control Still Lurks in Every Legislature

LSI Tele-Briefing: State of New York v. EPA

The Capactity Market Enigma: Why haven’t reliability markets developed?
...latest publications only