Electricity & gas

Sam Lovick has over 30 year experience of electricity and gas markets, commencing in the formative period of electricity market reform in the UK in the late 1980s. Since then he has worked throughout the world on market design, privatisation, valuation, pricing, regulation, network pricing, market power, market power mitigation, benchmarking, operating performance, and strategy. Sam makes considerable use of modelling in his work. His models use of a wide variety of approaches including econometric, simulation, linear programming, quadratic programming, Monte Carlo modelling, real options analysis, and input output modelling.

Expert determination: determination of compensation for Package 2 of additional compensation claims for directions between 31 January and 09 February 2020 in South Australia, Draft determinations.

Expert determination: member of the panel of experts used in independent determinations

Expert determination: independent expert determination of compensation for a number of Directed Participants in Victoria and South Australia following transmission outages and widespread power outages in South Australia.

Expert determination: independent expert determination of compensation for two Queensland Directed Participants, resulting from transmission limitations.

Market design: working paper in the case for a review of generator transmission use of system charges in the National Electricity Market.

Pricing: re-design of charges for market operation services (for NEMMCO).

Market design & regulation: advice on implications of recent problems in the National Electricity Market on the performance of power generation assets.

Benchmarking: advice on the economic performance of the Western Australia gas business.

Gas market: assessment of the impact of likely changes in the supply demand balance of wholesale gas on demand for gas pipeline haulage services.

Gas market: assessment of the impact of likely changes in gas market reforms and trading arrangements on the value of gas pipelines.

Benchmarking: analysis of the economic performance of distribution and transmission activities using total factor productivity (TFP), stochastic frontier analysis (SFA) and other measurement approaches.

Regulation: advice on the implications of economic efficiency measures for future regulatory outcomes and operational performance targets.

Market design: advice on a large range of issues concerning the design of markets at the Electric Reliability Council of Texas (ERCOT) and subsequent operation in those markets, ranging from options for transmission pricing, the advantages and disadvantages of markets based on firm power delivery, and market power and market power mitigation.

Expert testimony: provision of expert testimony to the Public Utilities Commission of Texas (PUCT) on market power mitigation measures.

Expert testimony: provision of expert testimony to the PUCT on power system market design.

Market power: advice on anti-trust issues arising in the bankruptcy of an electricity retailer in Texas.

Valuation: adviser on plant acquisitions in South Australia.

Valuation: adviser on on the value of the Hazelwood power station in Victoria in the process of privatisation.

Valuation: advice on factors relevant to the value of generating assets in the emerging US western power market.

Valuation: market advice and power sector modeling on the value of the generation and distribution businesses owned by Corporación Eléctrica de la Costa Atlántica (CORELCA) in Colombia.

Valuation: market advice and power sector modeling on the value of the generation and distribution businesses owned by Empresa de Energia de Bogota (EEB) in Colombia.

Valuation: assessment of revenue that the Cheves hydroelectric project would be expected to earn in the Peruvian power market.

Transmission planning: assistance to ElectraNet in developing an information paper on the qualification and treatment of non-network services in a tender for  new transmission under the Regulatory Investment Test for Transmission (RIT-T).

Valuation: advice on regulatory risk and regulatory arrangements in the National Electricity Market on the value of TransGrid, for Hastings.

Market design: analysis of generator transmission use of system charges in Western Australia for ERM.

Market design: advice on the efficiency implications of extending inter-regional transmission use of system charges to a broader class of National Electricity Market participants, for Intergen.

Market design: provision of advice on the development of the new California power market to the Pacific Gas and Electric Company.

Power system modelling: development of a power system simulation model to evaluate the impact of proposed market reforms in the California power market, for Pacific Gas and Electric Company.

Power system operation: advice to the Southern California Edison on PX (Power Exchange) bidding and market efficiency.

Market design: advice to California Trust for Power Industry Restructuring on ancillary services pricing and market design, transmission congestion pricing and congestion charge allocation, and financing issues.

Market design: construction of a market simulation model to test the rate of convergence (to efficient prices) of different PX bidding paradigms, for the California Trust for Power Industry Restructuring.

Market design: game theoretic analysis of market power in the deregulated California power market, and analysis of market power effects of transitional mechanisms including vesting contracts, for the California Trust for Power Industry Restructuring.

Transmission planning: advice to the California ISO Corporation on transmission investment in the context of newly competitive wholesale power markets.

Market design: advice to Government of Victoria on restructuring of the Victorian power industry and the development of VicPool at the outset of the market reforms in Australia.

Market design: advice to ETSA Generation on economies of scale and market power in South Australia, including analysis of use of CfDs for market power control.

Expert testimony: netback prices of gas sold into a competitive wholesale generation market in Australia, for ETSA.

Market design: modelling of the Singapore power system to assess price dynamics in market and to review market rates, using proprietary modelling tools, for Singapore Power.

Valuation: advice to the CMS consortium on the purchase of Yallourn power station in Australia.

Valuation: modelling and market analysis on the valuation of the Chivor S.A. hydroelectric power station in Colombia and subsequent advice on loan syndication, for Bank of America.

Valuation: advice to Houston Industries (now CenterPoint Energy) on the acquisition of EPSA in Colombia, and to Union Bank of Switzerland on subsequent debt syndication for the transaction.

Market design: advice on a variety of matters including performance indicators, international electricity reforms, valuation of the Snowy Mountain Scheme, power pools and transmission pricing.

Expert testimony: advice on anti-trust implications of purchase of Fletcher Challenge gas assets in New Zealand, for Shell.

Regulation: advice on the contracting strategies of the UK’s regional electricity companies and whether they had satisfied their obligation to purchase power economically, for Offer (the electricity regulator that preceded Ofgem).

Regulation: advice on the relative performance of power purchase contracts based on coal and gas during the debate on the future of British Coal, for Offer (the electricity regulator that preceded Ofgem).

Regulation: advice on the structure and level of price caps at the end of their first periodic review, for the Argentine economic regulator ENRE.

Regulation: assistance on the mid-term review and second generation performance-based rate making plan for electric distribution utilities in Ontario, for the Ontario Energy Board.

Market design: advice on developing a competitive power market in Ontario, for the Canadian Competition Bureau.

Market design: analysis of whether the newly formed Ontario power market could operate in an arbitrage-free manner with neighbouring markets in the USA, covering reserve prices, the extent of power exchange along the links between markets, and the degree of price convergence, for the Independent Market Operator of Ontario (now the Independent Electricity System Operator).

Valuation: advice on possible opportunities for investments, acquisitions and new businesses in the deregulating US power markets, for PDVSA Venezuela.