鈥淲e are thrilled to welcome Luigi and Paolo, both of whom bring in-depth regulatory and industry expertise, to our growing team,鈥?said Dr. Lucia Bazzucchi, Brattle Principal and Infrastructure Practice Leader. 鈥淭heir experience across European institutions and major infrastructure operators will deepen our capabilities in supporting clients with a wide range of infrastructure projects and challenges, from regulatory and market design reform to disputes to operation and investment analysis.鈥?/p>

Mr. de Francisci is a legal and regulatory expert with over three ??decades of experience in Italy鈥檚 energy and utilities sectors. He has held senior leadership and regulatory roles at Gestore della Trasmissione Nazionale (GRTN), Italy鈥檚 national grid operator; Terna S.p.A., Europe鈥檚 largest independent electricity transmission operator; and, most recently, ACEA, one of Italy鈥檚 largest multi-utility companies. Throughout his career, Mr. de Francisci has worked closely with national and international regulatory bodies, represented Italian infrastructure institutions in European forums, and been a member of numerous boards and committees, including the European Network of Transmission System Operators (ENTSO-E) board. His expertise includes tariff review, regulatory compliance, in?frastructure regulation, and contract settlement.

An expert in corporate finance, Mr. Prestininzi has extensive experience advising investors and infrastructure operators on regulation, asset valuation, and restructuring matters. He has worked on a number of complex international infrastructure projects across the entire transaction lifecycle, from pre-deal financing to post-deal integrations and business restructurings. He previously worke??d at ?a Big Four accounting firm as well as a leading international infrastructure operator, where he worked with motorways, airports, and fiber-optic networks.

Brattle鈥檚 Infrastructure practice supports clients on high-stakes economic, financial, and regulatory issues related to infrastructure i?nvestment, regulation, and policy. The team advises investors, operators, regulatory authorities, and governments on complex matters across sectors, including energy, telecom, transportation (such as aviation, railways, shipping, and toll roads/motorways), water, and waste. Brattle鈥檚 strength lies? in its combination of rigorous quantitative analysis and deep real-world expertise, drawing on the academic, regulatory, and hands-on industry experience of its consultants.

The addition of Mr. de Francisci and Mr. Prestininzi to the Infr??astructure practice reflects the firm鈥檚 strategic commitment to supporting clients on the front lines of infrastructure transformation.

To learn more about Brattle鈥檚 Infrastructure practice, please visit the 168澳洲5官网历史开奖记录,168澳洲幸运5官方开奖结果历史:practice page.

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Host: International Women鈥檚 Insolvency & Restructuring Confederation (IWIRC)
Date: Friday, June 6
Time: 1:30鈥?:30 p.m. (ESAT)
Location: S茫o Paulo, Brazil

Principal Federica Pietrogrande will be a facilitator in 鈥淓xercise in Achieving Effective?? Settlements,鈥?a mock mediation working group where participants will work through a structured hypothetical fact patt?ern and apply key techniques in a facilitated setting. Attendees will refine their approach to dispute resolution, develop persuasive negotiation tactics, and sharpen their ability to achieve effective settlements, taking into consideration multinational challenges.

168澳洲5官网历史开奖记录,168澳洲幸运5官方开奖结果历史:Learn More

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In this special issue, we focus exclusively on one of the hottest topics in the power industry: rate design for data centers and other large loads. Utility activity in this area has accelerated rapidly over the past 12 months, as seen in the figure below. We expect that trend to con??t??inue.

This issue discusses tariff mechanisms to mitigate cost shifts from large loads and, conversely, strategies for using rate design to attract new loads. We then preview themes from existing large load rate offerings based on a paper we recently coauthored with Berkeley Lab, and lay out an approach for relieving a leve??l of rate pressure that most utilities haven鈥檛 faced for decades. As always, we conclude with a few personal notes of interest.

Reeling in the Risk: Utility Tariff Mechanisms to Mitigate Cost Shifts from New Large Loads

By Jadon Grove and Long Lam聽

As data centers and other large customers hanker to connect to the grid, a big question looms: how should utilities accommodate these new customers without driving up costs for everyone else? Legislators and regulators across the country are grappling with this issue, as evident in a data center report from Virginia鈥檚 168澳洲5官网历史开奖记录,168澳洲幸运5官方开奖结果历史:Joint Legislative Audit and Review Co?mmission (JLARC), a new 168澳洲5官网历史开奖记录,168澳洲幸运5官方开奖结果历史:Georgia Public Ser?vice Commission rule, and in discussions from the 168澳洲5官网历史开奖记录,168澳洲幸运5官方开奖?结果历史:NARUC Winter Policy Summit.

A look at recently proposed and approved tariffs reveals that utilities are taking a range of approaches to minimize cost shifts and mitigate risks for existing customers. The??se include:

• Minimum charge: Utilities are embracing minimum demand charges and minimum bills to ensure that large customers contribute to grid costs, even when their usage fluctuates. For example, AEP Indiana鈥檚 recently approved tariff features a demand charge based on the higher of 80% of customer-contracted capacity or 80% of their highest billing demand from the previous year. The minimum charge level is higher in AEP鈥檚 proposed tariff in Kentucky (90%) and in AEP鈥檚 proposed settlement in Ohio (85%).
• Long-term contracts: Many utilities are pairing minimum charges with extended contract terms to provide greater revenue certainty. Evergy鈥檚 proposed LLPS tariff in Kansas and Missouri combines an 80% minimum demand charge with a 15-year contract term.
• Collateral requirements: To protect against financial risks if a large customer suddenly scales back operations or exits the market, utilities are requiring large customers to post large collateral. Customers with a good credit rating and sufficient liquidity may qualify for reduced collateral requirements.
• Early termination fees: Utilities may include stipulations that provide large customers with the flexibility to terminate service early in exchange for a fee. NV Energy鈥檚 recently approved Clean Transition Tariff includes an exit fee if a customer ends the contract before its full term.

In addition, utilities are consi?dering other tools to minimize cost shifts and risks. For example, PacifiCorp will assess an excess demand cha?rge when a large customer鈥檚 actual electricity usage does not meet forecasts. PG&E has proposed requiring large customers to pay for electric facilities in advance of their construction (transmission upgrade costs are excluded).

Meanwhile, ??Evergy introduced a system support rider to recover from ne?w large customers鈥?costs associated with the acceleration of investments into resources needed to serve them, as well as transmission congestion costs caused by these large energy users.

Rec?ent developments also indicate that utilities are shifting away from one-off special contracts and toward standardized rate schedules that?? apply broadly across large customers.

We expect continued adoption of these rate design elements 鈥?along with the introduction and experimentation of new ones 鈥?as utilities, regulators, and stakeholder?s work to balance the economic benefits of attracting data centers with the need to a??llocate system costs fairly.

Bring It On: Rate Design as a Strategy to Attract Large Loads

By Ryan Hledik聽

The earl?y focus of rate design for new large loads 鈥?particularly data centers 鈥?has been on preventing a cost shift (see 鈥淩eeling in the Risk鈥澛爁or further discussion). However, some utilities are beginning to ask an additional, different question: How can we design our rates to attract new large loads 鈥?and their associated economic benefits 鈥?to our service territory?

The traditional approach to attracting new large customers has been to offer an 鈥渆conomic development rate鈥?鈥?in other words, a discount. The prevailing view among regulato??rs and st?akeholders, however, is that rate discounts are not necessary to attract data centers, given how dramatically their demand for power is currently outstripping supply. In fact, the hyperscalers themselves are generally prioritizing other objectives over bill minimization. While price matters, discounts do not appear to be a viable or prudent strategy for attracting new data center load in most jurisdictions.

Instead, some?? utilities are beginning to introduce innovative rate design featu?res that align with the top priorities of their prospective customers. Those priorities include speed to market, a high level of reliability, and decarbonization.

Evergy鈥檚 recently proposed Large Load Power Service (LLPS) rate in Kansas and 168澳洲5官网历史开奖记录,168澳洲幸运5官方开奖结果历史:Missouri is one compelling example of this strategy in action. The LLPS rate includes six voluntary riders that can help to relieve capacity constraints on the system and facilitate th?e achievement of corporate sustainability goals:

• Customer Capacity Rider: Credits customers for using existing, accredited capacity 鈥?e.g., owned or contracted through a purchase power agreement (PPA).
• Demand Response Generation Rider: Provides a bill credit to customers who use load flexibility or on-site generation to provide demand response services.
• Clean Energy Choice Rider: Provides customers with the option to pay for the incremental cost of new clean generation resources that are additive to Evergy鈥檚 baseline integrated resource planning (IRP) portfolio.
• Renewable Energy Credit Riders: Three different riders that allow customers to procure the clean energy attributes of various generation resources.

An important aspect of these rate de?sign feat??ures is that they can attract new customers without introducing the risk of a cost shift, meaning they are in the interest of all customers, not just data centers.

We expect to see continued innovation along these lines. Areas that may be worthy of further exploration include tariff features that prioritize the accelerated ?connection of customers with firm, dependable flexibility, or options for large customers to create headroom in the system by paying for an expansion of demand response capabilities across the service territory.

Rethinking Rate Design: How Utilities and Regulators are Responding to Rising Demand

By Sanem Sergici and Goksin Kavlak

As the US faces unprecedented electricity demand growth from large-load customers, how are regulators and utilities rethinking rate design? What factors are considered when designing rates that enable load growth while minimizing f?inancial and operational risks? A recent technical brief Brattle coauthored with Berkeley Lab, 鈥?a href="//eta-publications.lbl.gov/sites/default/files/2025-01/electricity_rate_designs_for_large_loads_evolving_practices_and_opportunities_final.pdf" target="_blank" rel="noopener">Electricity Rate Designs for Large Loads: Evolving Practices and Opportunities,鈥?aims to answer these questions by providing an?? overview of electricity rate designs for large loads, featuring examples from proposed and approve?d tariffs.

Regulators, utilities, and large-load cu??stomers are exploring tariffs 鈥?including rate structures, electric service agreements, and special contracts 鈥?that achieve the objectives of reliable and affordable power, mitigating financial risks to ratepayers, and supporting clean energy and infrastructure deployment. The brief identifies the key issues that have emerged as utilities and regulators exp??lore these tariffs:

• Fair allocation of electricity system costs to large load customers without unfair shifting of costs to other customers
• Mitigation of the financial risks associated with stranded assets from underutilized system investments if the forecasted electricity demand fails to materialize
• Mitigation of operational and resource adequacy risks if electricity demand exceeds supply or if voltage and power fluctuate because of large-load customers
• Appropriate risk-sharing in commercializing newer electricity technologies such as advanced geothermal, carbon capture, small modular reactors, and long-duration energy storage that may be needed to scale quickly to meet near-term demand growth
• Accommodating the diverse needs of large-load customers, such as having access to low-carbon resources or using onsite generation to meet energy needs

Currently, there is no industry-standard approach to tariff design for large loads; instead, regulators and utilities develop tariffs to ensure revenue suf??ficiency, prevent discrimination and cost-shifting, and support broader state policy goals. Real-world examples from across the country offer valuable insights and lessons that c??an inform future rate design efforts.

The brief provides examples of proposed and approved tariffs and describes how different tariff elements (such as eligib??ility, contract size, and contract duration) aim to mitigate financial and operational risks while supporting broader power system goals. Utilities, regulators, customers, and other stakeholders can use this brief as a foundation when evaluating large load tariffs.

Clean Capital Efficiency: Relieving Rate Pressure During the Power Industry鈥檚 Turbulent Next Decade

By Peter Fox-Penner, Ryan Hledik, Shannon Paulson, and Xander Bartone

For the past two decades, the utility industry has enjoyed stability with low demand growth, inflation, and int??erest rates, allowing it to reliably serve customers, build out low-cost renewable energy resources, and maintain reasonable rates whil??e providing solid financial returns.

However, this era appears to be over. Utility rates have risen significantly, driven by inflation, higher interest rates, rising materials costs, supply chain constraints, and aging i??nfrastructure. Looking forward, credit stress and the ongoing need for major infrastructure investment are expected to lead many utilities to continue seeking annual rate base increases.

Despite these pressures, the coming era presents a unique opportunity to redirect resources toward a cleaner, more efficient, and cheaper system. There is a path through the roiling waters that can upgrade system architecture, improve financial ?performance, and relieve at least some of the escalating concerns over rates and affordability. Specifically, the industry can focus on maximizing system throughput while building towards rapid decarbonization.

We refer to this approach as 鈥淐lean Capital Efficiency鈥?(CCE). Key elements of CCE includ??e:

• Energy efficiency (EE): In the past few years, utility efforts have diverged sharply between beneficial electrification and traditional EE. It is worth considering whether utility ownership of behind-the-meter efficiency assets should expand.
• Demand flexibility: A critical feature of demand flexibility is the speed at which its capacity can be added to the system, since it is not subject to interconnection delays. Relatedly, demand flexibility provides optionality in the pace at which it scales.
• Optimizing distributed energy resources: Beyond demand flexibility, there may be other opportunities to improve distribution system design and operation. For example, advanced distribution control systems can sometimes significantly increase the ability of circuits to host distributed solar or electric vehicle (EV) chargers on a heavily loaded circuit.
• Advanced transmission and distribution (T&D) technologies: An expanding suite of low-capital technologies is becoming better established as a means of increasing throughput on transmission and distribution systems. These technologies include dynamic line ratings (DLRs), advanced AC load controls, grid topology optimization, and other similar measures, as well as advanced or high-performance conductor (HPC) transmission cables.

Successfully implementing CCE is nuanced and will need to be tailored to the regulatory, market, and financial conditions of any individual utility. For further discussion, see our new paper on the topic, which can be accessed here.

Updates from the Team

• Struggling to navigate the role of rate design in an increasingly policy-driven environment? Our new interactive web tool 鈥?developed with Berkeley Lab 鈥?may be a helpful resource. It鈥檚 titled 鈥淒eliberate Design: Creating Electricity Rates with a Purpose,鈥?and you can access it here.
• Several members of our team recently contributed a chapter to a book that explores electrification in an increasingly decentralized grid. The book includes several chapters on rate design. Electrification and the Future of Decentralized Electricity Supply?? will be published this summe??r 鈥?you can find more information here.

Brattle鈥檚 Ratemaking Capabilities

Over the past 1??5 years, we have worked with more than 60 clients on over 100 studies on retail ratemaking issues across a range of jurisdictions throughout North America and abroad. During that time, Brattle consultants have testified or submitted regulatory filings on ratemaking issues in more than 15 states or provinces and have appeared before various legislative bo??dies and regulatory commissions. As a result, we bring on-the-ground experience, perspective, and lessons learned from a broad range of regulatory and market environments.

Our ratemaking services include cost-of-service studies, pilot desig??n, rate design, system impact analysis, bill impact analysis, consumer preference asse??ssment, benchmarking, transition strategy, and regulatory and stakeholder support.

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