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Spencer Yang provides expert testimony and consulting services in litigation and regulatory proceedings, with a focus on energy industry issues. Dr. Yang also provides economic due diligence and consulting services for renewable energy, nuclear energy, and infrastructure development projects by major companies and government agencies, both domestically and internationally. He specializes in the analysis of energy markets, renewable energy investments, solar project development, nuclear power plant investments, electricity market power, electric power systems and transmission networks, generation portfolios, and climate change. He has a comprehensive background in science, engineering, statistics, and quantitative analysis.

Dr. Yang has extensive experience applying quantitative analysis to a wide range of business problems. He has served as both a testifying and consulting expert in an array of cases, including the Exelon–Constellation merger, regulatory proceedings before federal and state regulatory commissions, applications for market-based rate authority, QF and PURPA rights, reliability needs assessments of transmission lines, potential retirement impact of nuclear generation, and civil damages cases. He has recently advised a major private equity fund on potential utility mergers, Korean IPPs on solar PV project development, and he has performed several portfolio analyses quantifying the benefits of adding renewable generation into a conventional fossil fuel generation portfolio mix on behalf of Airtricity, the European Investment Bank (EIB), and the California Energy Commission (CEC).

Dr. Yang received a PhD in High Energy Physics from Columbia University and two additional graduate degrees from Columbia University, a Master of Philosophy in High Energy Physics and a Master of Arts in Physics. Prior to joining Bates White, he served as a Postdoctoral Scholar, Senior Postdoctoral Scholar, and Staff Scientist at the California Institute of Technology and a Visiting Scholar at Stanford University.


PhD, Physics, Columbia University

MPhil, Physics, Columbia University

MA, Physics, Columbia University


Selected Work

Selected Experience

  • Serving as lead economic advisor to major Korean IPPs on developing renewable energy projects in the United States.
  • Provided consulting services to major Korean IPPs on solar joint venture formations, asset purchases and sales, power marketing, and PPA negotiations.
  • Provided consulting services to Ministry of Trade, Industry and Energy (MOTIE) of Korea on global nuclear power plant construction and decommissioning market outlook.
  • Provided consulting services to major Korean conglomerates on the US renewable energy market outlook and business development opportunities.
  • Provided consulting services to Korea Development Institute on electricity market reform and generation/transmission investments.
  • Submitted report to the European Investment Bank on development of efficient generation portfolios for Europe that optimize European energy security and climate change mitigation.
  • Provided consulting services to CEC in developing the 33% renewable energy goals, market price referent (MPR), and feed-in tariff (FiT) mechanism.
  • Conducted portfolio analysis on behalf of Airtricity, EIB, and CEC on quantifying the benefits and costs of adding renewable generation into a conventional fossil fuel generation portfolio mix.
  • Provided economic and risk analysis of the proposed solar PPAs on behalf of the Mississippi Public Utility Staff.
  • Provided consulting services to a major US private equity fund on the Duke-Progress merger.
  • Conducted reliability studies on behalf of Exelon Corporation related to the potential retirement of the Zion, Limerick, Three Mile Island, and Oyster Creek nuclear generation stations.
  • Testified on behalf of Shell Trading regarding market power analysis.
  • Testified on behalf of Calpine and NRG regarding certificates of public convenience and necessity to construct Houston Import Project.
  • Testified on behalf of Maryland PUC Staff regarding potential market power issues associated with the proposed Exelon–Constellation merger.

  • Testified on behalf of Virginia State Corporation Commission Staff regarding certificates of public convenience and necessity to construct 500-kV transmission line.

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