Portrait of Sahar Shamsi, CFA

Sahar Shamsi, CFA : Partner

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

Sahar jointly leads Oxera’s Energy and Climate Economics teams. 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 an Energy Expert in the Who’s Who Legal: Thought Leaders – Global Elite guide to leading lawyers and experts in the field worldwide.

Sahar speaks English.

Tel: +44 (0) 20 7776 6624

Sahar's specialisms include:

professional experience

  • Directed Oxera’s independent review of the UK energy retail market on behalf of Ofgem’s Board (2022)

  • Policy advice in an Article 101(3) case on the grounds of sustainability for Dutch carbon capture and storage (2022)

  • Market design advice on integrating negative emissions in the UK Emissions Trading Scheme on behalf of Drax Group, presented to BEIS and HMT (2021‒22)

  • Prepared expert evidence on financial issues including at the European Court of Justice, on behalf of ComReg Ireland (2017–22)

  • Financial advice on projected risk and returns, to an investment consortium for transport networks in UK Carbon Capture, Usage and Storage (2021)

  • Regulatory market design in the transition to net zero including hydrogen roll-out in the New Zealand gas industry (2021)


  • 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

9 minute read
On 30 November 2022, Ofgem published its Final Determinations (FDs) for the RIIO-ED2 price control covering the electricity distribution (ED) sector for the next five years from April 2023 to…
10 minute read
On 29 June 2022, Ofgem published its Draft Determinations (DDs) for the RIIO-ED2 price control covering the electricity distribution (ED) sector. The regulatory cycle for the ED sector follows that…
8 minute read
What were the root causes and costs of the recent supplier failures in the UK energy retail market? The Board at Ofgem (the energy regulator for Great Britain) asked Oxera…
6 minute read
As the curtain dropped on last year’s COP26 summit, many were heartened by the agreements made. Yet more needs to be done to fast-track the roll-out of negative emissions technologies…

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