Jostein Kristensen

Partner

Email
+44 (0) 20 7776 6608

Location: London

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Profile

Jostein focuses on market analysis and regulation in the energy and related infrastructure sectors. He advises companies, governments, investors and regulatory authorities on antitrust and regulatory investigations, commercial disputes, and transactions. Within the energy sector, his work has covered coal, electricity (including renewable and nuclear generation), natural gas and oil.

Jostein has recently provided expert advice, reports and testimony in commercial disputes and regulatory investigations in the electricity, natural gas and oil sectors.

Selected project experience

  • Adviser to a claimant in its follow-on damages claim against one of the main producers of underground and submarine power cables that had participated in a cartel running from February 1999 to January 2009 (2015–)

  • Economic adviser to ScottishPower in the context of the UK Competition and Markets Authority inquiry into the GB energy market (2014–)

  • Economic advice to a major Hong Kong-based company on the implementation of the new Competition Ordinance (2015)

  • Economic adviser to an Eastern European energy company in the context of a European Commission antitrust investigation (2014–15)

  • Economic and financial impact assessment of regulatory reform options for a European electricity and gas transmission company (2013–14)

  • Profitability analysis of GB energy retail businesses for a ‘Big Six’ electricity company (2013–14)

  • Advice to the UK government and EDF relating to the European Commission’s state aid investigation into the proposed investment contract for the Hinkley Point C nuclear power plant (2013–14)

  • Economic impact analysis of GB Electricity Market Reform, and submissions to the UK government on behalf of various clients (2011–13)

  • Financial analysis of discount rates for renewable generation technologies in selected countries, for a European energy company (2013)

  • Regulatory due diligence for iCON Infrastructure relating to its acquisition of Firmus Energy’s gas distribution assets (2013)

  • Economic impact analysis of Ofgem’s proposals aimed at improving wholesale market liquidity for a Big Six electricity company (2012–13)

  • Competition analysis for ICE (IntercontinentalExchange) relating to its acquisition of a majority stake in the derivatives and spot gas business of APX-ENDEX (2012–13)

  • Analysis of the competition impact of prospective cross-border coal mergers for an international mining and metals company (2008–13)

  • Market analysis and regulatory advice to Fortum relating to its operations in Eastern European and Russian electricity and heat markets (2012)

  • Advice to the UK government relating to the European Commission’s state aid investigation into the Green Investment Bank (2011–12)

  • Economic impact analysis of proposed reforms to European commodity derivatives markets, for a European energy trading company (2011)

  • Valuation of offshore oil and gas pipelines, and assessment of alternative access tariffs for BG Group (2011)

  • Financial analysis of hurdle rates for low carbon generation technologies for the UK Committee on Climate Change and the Department of Energy and Climate Change (2010–11)

  • Valuation of offshore gas storage facilities for The Crown Estate as part of licensing negotiations (2010)

  • Competition analysis for Electricity North West relating to Ofgem’s investigation under the Competition Act 1998 (2009–10)

  • Valuation of an electricity interconnector, and competition analysis for a European electricity company (2007–09)

  • Analysis of the competition impact of the EDF/British Energy merger for a European electricity company (2008)

Expert testimony experience

  • Expert reports and testimony on behalf of a European electricity company that is the claimant in an UNCITRAL arbitration against a European member state. Damages claims relating to the termination of long-term agreements were brought under the Energy Charter Treaty, and hundreds of millions of euros are at stake (2011–14)

  • Expert advice to an international oil trading company in the context of a multi-jurisdictional market manipulation and abuse investigation (2012–13)

  • Expert evidence for Budapesti Erőmű Zrt (Budapest Power Plant) with respect to its appeal of the European Commission’s state aid decision involving the termination of Power Purchase Agreements (2008–11)

  • Expert report for Endeavour International Corporation in the context of its referral to the UK Secretary of State for Energy and Climate Change of a dispute over access tariffs that the operator of the Scott platform proposed to charge to Endeavour to transport gas from its Rochelle field (2010)

Selected publications

  • Kristensen, J. (2014), ‘What’s a CfD worth to you?’, Utility Week, 21 November.

  • Kristensen, J. and Gill, A. (2008), ‘How Competitive are Energy Supply Markets?’, Competition Law Insight, 7:5, 6 May.

  • Kristensen, J. (2007), ‘Is Ownership Unbundling the Best Strategy for Energy Sector Reform?’, Competition Law Insight, 6:3, 13 March.

Qualifications

  • MSc Business Economics, University of Manchester Institute of Science and Technology (UMIST)

  • MEng Engineering Manufacture and Management, UMIST


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