Pierpaolo is a member of Oxera’s Regulation and Performance assessment teams. Prior to joining Oxera in February 2014, he gained experience in another economics consultancy, where he worked in the strategy and energy sectors, and in a public policy consultancy.

His areas of specialisation are regulation and market design, modelling, and efficiency benchmarking. During his studies, Pierpaolo specialised in economic policy analysis and public economics.

Selected project experience

  • Impact assessment of a proposed regulatory reform in the Italian water sector (2018)
  • Project management and delivery of courses on utility regulation for Accademia dei Servizi Pubblici (Utilitalia) (2018)
  • Regulatory support concerning WACC and incentives in the context of a consultation process for a large European TSO (2018)
  • Advice on TSO incentives for a European transmission operator (2018)
  • Advice in the context of an Article 101 investigation by the Italian Competition Authority (2018)
  • Project manager advising a group of Italian energy companies on regulatory design in the context of a consultation process (2017)
  • Economic advice as part of a court appeal concerning a regulatory decision on access charges in the railway sector (2017)
  • Project manager for a due diligence on Italian energy and water assets for an investment fund (2017)
  • Economic advice for Italian energy network on output based regulation (2017)
  • Delivery of seminars on TOTEX regulation for a group of gas distribution operators (2017)
  • Advice on tariffs for an Italian wastewater company (2017)
  • Definition and determination of feasible efficiency gains at (semi-) public organisations for a Belgian utility company (2016–17)
  • Assistance with the regulation of smart metering services for an Italian electricity distribution company (2016)
  • Assistance to a European gas distribution operator in responding to a regulatory determination concerning real price effects and frontier shift (2016)
  • Study on regulatory best practice in the use of market rates to determine CAPEX allowances (2016)
  • Due diligence advice on a range of regulatory and performance related issues for a UK utility (2015–16)
  • Study on dynamic efficiency for Dutch gas and electricity TSOs (2015)
  • Advice to an English water company during the CMA inquiry into its appeal of the price review final determinations (2013–15)
  • Advice on the impact of a merger between two water companies on the comparative regime for a CMA inquiry (2015)
  • Advice for a global payment card scheme on competition issues (2015)
  • Advice to a group of Italian water companies on comparative cost efficiency (2014)
  • Modelling of cost efficiency for a number of English water companies (2014)
  • Econometric analysis for a review of the concessionary bus fares regime in England and Wales (2014)
  • Study on SME taxation in Europe (European Commission, DG Enterprise and Industry) (2013)
  • Assessment of the impact of competition in banking on access to finance for SMEs (2013)
  • Research on a dispute case on government subsidy schemes in the Spanish energy industry (2013)
  • OECD–LSE project on fiscal policy in the EU (2012–13)

Selected publications

  • Davis, C., Dufour, A. and Perna, P. (2016), ‘Roads funding and regulation in England, France and Italy: an international comparison’, European Transport Conference 2016 Proceedings, Association for European Transport, October.
  • Horncastle, A., Mautino, L., Parthasarathy, S. and Perna, P. (2015) What is the Impact of e-Substitution on Cost Efficiency?, 23rd Conference on Postal and Delivery Economics, June.


  • MPA Public and Economic Policy, London School of Economics and Political Science
  • BSc (Econ) Economics and Politics, University of London