Portrait of Alex Smirnov, CFA, CAIA

Alex Smirnov, CFA, CAIA : Senior Consultant

Alexander is a member of Oxera’s Finance and Analytics teams, and works on a wide range of issues surrounding investable infrastructure.

On the finance side, Alexander has advised clients on questions of valuation, risk measurement and mitigation, financial engineering, and the social and economic impact of infrastructure projects.

On the analytics side, Alexander has helped clients to create forecasts for strategic decision-making and to estimate the parameters of counterfactual scenarios for the purpose of dispute resolution. He has taken a leading role in the development of Oxera’s energy market modelling capabilities.

Prior to joining Oxera, Alexander completed an internship at Standard and Poor’s rating services, and gained an MSc in Financial Economics from the University of Oxford, UK, in which he focused on finance and data analytics. In addition to advisory work, Alexander delivers guest lectures and masterclasses in the fields of valuation, financial modelling and quantitative finance.

Alex speaks English, and Russian.

Tel: +44 (0) 1865 253097

Alex's specialisms include:

professional experience

  • Led valuation and risk analysis in the context of a power purchasing agreement dispute (2018–)

  • Led the analysis of Ofgem’s modelling disclosure in the context of the retail energy cap regulation in the UK (2018–)

  • Led the design of a financial model for a European multi-country railway joint venture (2018–)

  • Bespoke Oxera course for HM Treasury: asset valuation (2018)

  • Advised on cost of equity estimation for the RIIO-2 controls (2018)

  • Supervised the quantitative analysis of risks faced by a major European transport infrastructure management company (2018)


  • Alexander Smirnov is a CFA® charterholder

  • MSc Financial Economics, University of Oxford, UK

  • BSc Economics and Finance, University of London, UK

Latest Insights:  Alex Smirnov

On 3 February Ofgem, the energy regulator for Great Britain, published its decarbonisation action plan to support the UK in achieving net zero carbon emissions by 2050. Outlining Ofgem’s role…
Choosing the right energy mix is a hot topic for many countries around the world. In the UK, for example, the government appears committed to supporting new nuclear capacity; however,…
In March 2018 the UK government announced a plan to introduce a deposit return scheme for plastic, glass and metal drinks containers in England. Aimed at curbing pollution by stimulating…
The levy on sugary soft drinks announced in the 2016 UK Budget is aimed principally at tackling childhood obesity. Of those who become obese in childhood, 80% will go on…