Srini is an expert on performance management and efficiency measurement, and joint head of Oxera’s efficiency practice. Since 2005, he has led on expert reports and testimony, and provided efficiency advice, as part of regulatory due diligence, regulatory incentive design, price control reviews, competition investigations, and price appeal and merger inquiries. He has advised a wide variety of organisations, investors, companies and regulators in almost all regulated sectors in the UK and Europe.

Srini has previously taught at undergraduate and postgraduate level in the Economics and Business faculties at the University of Warwick, London School of Economics and London Business School. He acts as an ad hoc reviewer for peer-reviewed academic journals in performance management: OR Spectrum, Annals of Operations Research, the Journal of the Operational Research Society and Annals of the Brazilian Academy of Sciences.

Srini is an invited speaker and expert panellist at international efficiency conferences, and pan-European efficiency benchmarking events organised by WAREG, CEER and IWA. He is also responsible for the design and delivery of modules on regulatory benchmarking on the Energy Regulators Regional Association’s (ERRA) annual Water Utility Regulation training course, and on ERRA’s Energy Capital Investment Programs.

Selected project experience

  • Organiser and expert panellist on ‘Regulation of utilities sectors – principles and analytical tools’ at the 2nd International Conference on Cognitive Analytics Management (2018)
  • Adviser to a number of European electricity transmission system operators on international efficiency benchmarking (2018–)
  • Led an expert report for a German gas transmission company on benchmarking issues for the third regulatory period (2018–)
  • Adviser to a number of water companies on cost assessment for PR19
  • Adviser to a German energy distribution network on efficiency issues (2018–)
  • Adviser to a European energy client on international benchmarking and ways of improving efficiency (2018–)
  • Organiser and lead presenter of sessions for practitioners on regulatory benchmarking at ‘DEA40: International conference of Data Envelopment Analysis’ (2018)
  • Lead adviser to a European municipality authority on international benchmarking and monitoring of cost performance of a network operator (2017–)
  • Led on expert reports and testimony to the Competition and Markets Authority (CMA) in the context of an energy price control appeal (2017)
  • Led on an expert report for a German gas distribution company in the context of an energy price appeal (2017)
  • Adviser to the ACM, the competition regulator for the Netherlands, on the dynamic efficiency parameter for Dutch gas and electricity TSOs (2016–)
  • Lead adviser to BDEW, the German Association of Energy and Water Industries, on the productivity factor (2016–)
  • Led a Europe-wide workshop on ‘state-of-the-art’ efficiency benchmarking methods in economic regulation (2016)
  • Led a technical seminar on regulatory efficiency benchmarking for European water regulators (2016)
  • Efficiency advice to Bristol Water as part of its appeal to the CMA seeking a review of Ofwat’s PR14 Final Determination (2015–)
  • Advice to the Energy Networks Association as part of British Gas’s appeal to the CMA seeking a review of Ofgem’s RIIO-ED1 Final Determination for the slow-track electricity distribution companies (2015–)
  • Advising Pennon Group plc on the impact of the merger of South West Water with Bournemouth Water on Ofwat’s comparative regime in the ongoing investigation by the CMA (2015–)
  • Advised on efficiency issues in a damages claim quantification case (2014)
  • Review of the efficiency regime for a German gas transmission company (2013)
  • Advised Network Rail on efficiency in a periodic review (2012–13)
  • Efficiency advice to Royal Mail, including internal benchmarking (2012–15)
  • Developed a cost forecasting framework, including a benchmarking study, for a top-ten international airport (2011–12)
  • Advice on efficiency issues for the association of Finnish Energy Industries (FIE) (2012–)

Selected publications

  • Deuchert, E. and Parthasarathy, S. (2018–19), five-part series of articles on the German energy regulator’s benchmarking framework covering efficiency methods (DEA and SFA), functional form assumptions, cost driver analysis, outlier analysis and model validation, ewMagazin für die Energiewirtschaft.
  • Parthasarathy, S. and Dula, J.H. (in preparation), ‘Translation Invariance in DEA models – revisited’.
  • Parthasarathy, S. (2010), ‘A computationally efficient procedure for Data Envelopment Analysis’, PhD thesis, available from London School of Economics.
  • Banker, R.D., Natarajan, R. and Parthasarathy, S. (2009), ‘Nonparametric Estimation and Statistical Tests of Components of Productivity Change’, INFORMS (November).
  • Banker, R.D. and Parthasarathy, S. (2008), ‘Examining the two-stage DEA-based approach for evaluating exogenous variables affecting productivity’, working paper.
  • Banker, R.D. and Parthasarathy, S. (2008), ‘Two Stage estimation of factors affecting productive efficiency’, working paper.
  • Appa, G., Argyris, N., and Parthasarathy, S. (2007), ‘A faster algorithm for data envelopment analysis’, LSE Working Paper LSEOR 06.84.


  • PhD Operational Research (Production Economics), London School of Economics