Expert testimony

Sam Lovick has provided expert testimony (including economic analysis to support legal advice) in a broad range of areas including mining valuations, the impact of interruptions in production on global prices for minerals, expectations of mineral prices, regulation, power market design, power market prices, and various telecommunications-related matters. He has also assisted in the preparation of expert statements in grain handling, ports, gas markets and credit cards.

The impact of weather-related supply shocks on metallurgical coal market pricing in the context of settling one of Australia’s largest insurance claims, instructed by BMA’s counsel.

Provision of expert testimony to the Public Utilities Commission of Texas (PUCT) on market power mitigation measures (instructed by TXU’s counsel).

Provision of expert testimony to the PUCT on power system market design (instructed by TXU’s counsel).

Preparation of expert testimony comparing Telstra’s terminating, originating and interconnection charges with a large number of international counterparts, for Telstra.

Preparation of expert testimony comparing Telstra’s total factor productivity and its efficiency with other telecommunications providers, for Telstra.

Expert witness in an arbitration case concerning gas prices in South Australia, instructed by ETSA’s counsel

Evidence to the New Zealand Parliamentary Transport Committee examining the case for regulating airport charges in New Zealand, instructed by Air New Zealand counsel.

Advice on the profitability of power generation in the National Electricity Market under different market development scenarios, instructed by Minter Ellison.

Analysis and testimony on export coking coal prices, and past expectations and beliefs about future prices, instructed by HopgoodGanim.

Advice on arbitration of gas pipeline tariff under the Gas Code in the context of a negotiation of a long-term haulage tariffs, instructed by Clayton Utz.

Statement to the ACCC on the National Broadband Company Special Access Undertaking on whether NBN’s proposed building block approach and other regulatory undertakings met the relevant statutory criteria, instructed by Webb Henderson.

Analysis and testimony on the value and change in value of certain iron ore and coal assets in various stages of development in the context of litigation over asset values, instructed by McCullough Robertson.

Assistance in the preparation of expert testimony on grain marketing and transportation in the Western Australian grain export market for CBH, in the context of determining whether sales contract provisions were consistent with regulatory requirements.

Assistance in the preparation of expert testimony on whether labour market conditions met the necessary requirements for termination of an enterprise agreement in the rail industry, instructed by Ashurst.

Advice on the economic impact of Shell’s proposed acquisition of Fletcher Challenge Energy in the context of a merger review in New Zealand, instructed by Shell’s counsel.




Sam has undertaken a large number of valuation studies in the contexts of privatisations, asset sales, mergers and acquisitions, and legal claims for damages based on changes in asset values. He brings an array of sophisticated quantitative approaches to these valuation exercises including real option valuation, Monte Carlo analysis, game-theoretic models of market outcomes and dividend growth models, as well as more conventional discounted cash flow analysis.

Regulatory advice during the sale of the Port of Melbourne including analysis cost of capital, the impact of various regulatory and statutory instruments on value, and the different roles of State and Commonwealth statutes.

Estimation of the value of exclusive wagering licenses and the impact of competition in wagering, for Racing Queensland.

Advice on the characteristics of the market for trans-Pacific sub-sea broadband transmission and the value of additional trans-Pacific cables, for REST.

Adviser on plant acquisitions in South Australia, for AES.

Adviser on on the value of the Hazelwood power station in Victoria in the process of privatisation, for AES.

Advice on factors relevant to the value of generating assets in the emerging US western power market, for AES.

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, for AES.

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, for AES.

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

Advice to the CMS consortium on the purchase of Yallourn power station in Australia.

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.

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.

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