Performed cost-benefit analysis of proposed merger between Exelon Corporation and PSEG Corporation on behalf of the State of New Jersey Board of Public Utilities (The Joint Petition Of Public Service Electric And Gas Company And Exelon Corporation For Approval Of A Change In Control Of Public Service Electric And Gas Company And Related Authorizations, BPU Docket No. EM05020106, OAL Docket No. PUC-1874-050). Analysis determined whether the proposed merger met the state’s positive benefits test, and included analysis of market power, value of changes in nuclear plant operations, and merger synergies.

Submitted expert testimony on behalf of InterGen in FERC proceedings (Docket No. EC03-131-000) related to Oklahoma Gas & Electric’s proposed acquisition of NRG McClain; analyzed issues of horizontal and vertical market power within the context of a hearing to identify appropriate mitigation measures.

Submitted expert testimony on behalf of the Independent Energy Producers Association on vertical market power in FERC proceedings (Docket No. ER04-316-000) related to Southern California Edison’s proposed acquisition of a Mountainview, Calif., electricity-generating facility and a subsequent interaffiliate Power Purchase Agreement.

Developed financial models of electric utility fossil/nuclear generation capacity and fuel, operating and maintenance, and station costs to estimate supply function and develop price caps to mitigate market power in privatization of state-owned hydroelectric generating assets for a privatization matter involving a government-owned utility.

Conducted an analysis of the competitive effects of a merger between electric utilities whose marketing areas were adjacent; matter was reviewed by FERC, the Antitrust Division of the Department of Justice, and the public service commissions of several states; intervention to reduce anticompetitive incentives was determined to be unnecessary.

Developed financial models of electric utility fossil/nuclear generation capacity and fuel, operating and maintenance, and station costs to estimate supply function and develop price caps to mitigate market power in privatization of state-owned hydroelectric generating assets for a privatization matter involving a government-owned utility.

Submitted testimony on behalf of Calpine Corp. and Shell Trading Gas and Power Company in FERC proceedings (Docket No. ER97-4166-015, EL04-124-000, et al.) related to the application by the Southern Companies (Southern Company Energy Marketing, Inc. and Southern Company Services, Inc.) for market based rate authority. Analyzed issues of generation market power, including issues related to Southern Companies’ transmission network, barriers to entry, and affiliate preferences.

Testified on behalf of Occidental Permian Ltd. and Occidental Power Marketing, L.P. in FERC proceedings (Docket No. EL05-19-002 and ER05-168-001) related to the wholesale electric power rates charged by Southwestern Public Service Company. Analyzed issues associated with the appropriate allocation of average system fuel costs and cross-subsidization.