Portrait of Sahar Shamsi, CFA

Sahar Shamsi, CFA : Partner

Sahar jointly leads Oxera’s Energy and Climate Economics practices. She specialises in finance, with a focus on the economic regulation of utilities. She has advised companies and regulators across the UK, Europe, the Middle East and Australasia. Sahar has been seconded as a lead Economic Adviser to the UK Competition Commission (now the Competition and Markets Authority, CMA) to advise on regulatory finance issues.

Sahar has given expert evidence in the UK and internationally, including in Austria, the Channel Islands and New Zealand, on financial issues in price controls. She has prepared expert evidence on finance and competition issues in many UK High Court proceedings, as well as in international tribunals such as ICSID. Sahar leads the delivery of finance modules in Oxera’s Utility Regulation and Utility Finance courses. She has also taught the postgraduate course in Economics for Competition Law at King’s College London, and delivered training on damages valuation to national judges on behalf of the European Commission.

Sahar is listed as a Global Elite Thought Leader in the Who’s Who Legal: Energy Experts guide to leading lawyers and experts in the field worldwide.

Sahar speaks English.

Tel: +44 (0) 20 7776 6624

Sahar's specialisms include:

We engaged Sahar and the team at Oxera to provide expert opinion on a hotly contested price control dispute. To meet this challenge required Sahar and her team to deploy their world class technical expertise, whilst maintaining sufficient flexibility and resourcefulness to respond to the issues at hand. Our client achieved a truly amazing result which was in no small part due to Oxera's work

Partner, Collas Crill LLP

professional experience

  • Expert evidence to the Institution of Civil Engineers for its ‘State of the Nation 2020: Infrastructure and the 2050 net-zero target’ report (2020)

  • Damages quantification in the context of a power cables cartel before the UK Competition Appeals Tribunal (2020)

  • Expert testimony and advice on financial price control issues for German and Austrian electricity networks (2019–20)

  • Strategic and modelling advice on the action plan for Net Zero by 2030 for the States of Jersey (2019–20)

  • Multiple engagements with the UK Energy Networks Association on the determination of financial price control parameters (2018–20)

  • Financial, incentives and control design advice to a number of UK energy networks and system operators in relation to the RIIO-2 controls (2017–20)


  • Shamsi, S. (2020), ‘Expert view: “Legitimacy means balancing affordability and financeability”’, Utility Week, March.

  • Shamsi, S. (2018), ‘Expert view: Creating a flexible framework for energy regulation’, Utility Week, June.

  • Shamsi, S. (2018), ‘The evolution of UK energy regulation’, Utility Week, September.

  • Kristensen, J., Jenkins, H. and Shamsi, S. (2018), ‘Forum: Energy Investigations’, Special Report, Financier Worldwide Magazine, October.

  • Shamsi, S., Solomon, P. and Robins, N. (2017), ‘Compensatory measures in the banking sector’, chapter 6, in F.-C. Laprévote, J. Gray and F. de Cecco (eds), Research Handbook on State Aid in the Banking Sector, Edward Elgar Publishing.

  • Robins, N. and Shamsi, S. (2016), ‘The European Commission’s State Aid Clampdown: The End of “Selective” Tax Rulings?’, Derivatives & Financial Instruments, 18:1, February.


  • MA Economics and Management, University of Oxford, UK, UK

  • Sahar Shamsi is a CFA® charterholder

Latest Insights:  Sahar Shamsi

Many different organisations, including the European Commission, the United Nations and the International Labour Organization (ILO), have expressed a desire to ensure that decarbonisation involves a ‘just transition’.1 The organisations…
The Competition and Markets Authority (CMA) has published a summary of its Provisional Determination of the appeals in respect of Ofgem’s RIIO-GD2 and RIIO-T2 price control review. Out of 12…
With many countries around the world signing up to targets of net zero carbon emissions, what is the role of economics in the climate change debate? Economics can help to…
On 9 July 2020, Ofgem published its Draft Determinations for the RIIO-2 price controls for the GB electricity transmission (ET), gas transmission (GT), and gas distribution (GD) sectors, and the…

The Economics of Climate Change at COP26

Oxera will be presenting on The Economics of Climate Change at COP26—the 2021 United Nations Climate Change Conference—in Glasgow, on one of the world leaders’ days on 2 November 2021. The aim of COP26 is to increase global alignment on climate action. We will be demonstrating to the world’s governments,… Read More

Image depicting The Economics of Climate Change at COP26