Portrait of Thomas Davison

Thomas Davison : Consultant

Thomas is a member of Oxera’s Finance & Valuation team. He specialises in commercial litigation, international arbitration and state aid cases, with a focus on financial valuation.

On commercial litigation and international arbitration cases, Thomas has performed analysis for damages quantification and assisted with the preparation of expert reports across a number of industries. On state aid cases, Thomas has assessed compliance with the market economy operator principle (MEOP) for public interventions in the health and transport sectors.

Thomas speaks English.

Tel: +44 (0) 20 7776 6637

Thomas' specialisms include:

professional experience

  • Performed a state aid risk assessment relating to a COVID-19 contract (2021)

  • Provided strategic advice and cost of capital estimation for regulated energy companies in their appeal of the RIIO-2 final determination to the UK Competition and Markets Authority (2021)

  • Performed financial modelling and analysis for the notification of a state aid scheme by the Irish Health Insurance Authority (2021)

  • Estimated the cost of equity for the RIIO-2 price controls for the UK Energy Networks Association (2021)

  • Quantified damages on behalf of a Middle Eastern airport services provider in its ICC dispute with the country’s national carrier (2021)

  • Assisted the Oxera expert regarding the future inflation and growth rates in Jersey and the UK for the purpose of determining the appropriate discount rate for the calculation of the lump sum compensation in a personal injury case (2021)


  • MPhil Finance and Economics, University of Cambridge, UK

  • BA (Hons) Economics and Management, University of Oxford, UK

Latest Insights:  Thomas Davison

7 minute read
Should the tax shields of a firm be discounted with the risk-free rate or the cost of debt? Or perhaps the weighted average cost of capital? The answer will affect…

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