Senior personnel

Charles J. Cicchetti

Charles J. Cicchetti is a member of Pacific Economics Group, a Senior Advisor to Pacific Economics Group Research, and a Professor of Economics at the University of Southern California. He previously held positions as the Jeffrey J. Miller Professor of Government, Business, and the Economy at Southern Cal, Managing Director of Arthur Andersen Economic Consulting, Co-Chairman of Putnam, Hayes & Bartlett, Inc., and Deputy Director of the Energy and Environmental Policy Center at Harvard University's John F. Kennedy School of Government. He was co-founder of Madison Consulting Group, which merged with National Economic Research Associates, Inc. (NERA), where he served as Senior Vice President. Dr. Cicchetti chaired the Wisconsin Public Service Commission and directed the Wisconsin Energy Office. He did post-doctoral research at Resources for the Future, served as first economist of the Environmental Defense Fund and was a professor of economics and environmental studies at the University of Wisconsin, Madison. He received a B.A. from Colorado College and a Ph.D. from Rutgers University, both in economics.

Dr. Cicchetti has testified before regulatory agencies in the U.S. and abroad on tariff design, the rate of return, and the organizational structure of the natural gas, electricity, water and telecommunications industries. He has prepared expert testimony for various federal proceedings on a variety of topics. His work in environmental litigation includes experience in natural resource damage assessment and cost allocation under the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) and the Oil Pollution Act. He has worked in developing nations throughout the world and designed the World Bank's Build, Own, Operate, and Turnover (BOOT) public/private investment program for infrastructure development.

The author of numerous books and articles, his publications include: Going Green and Getting Regulation Right: A Primer for Energy Efficiency , Restructuring Electricity Markets: A World Perspective Post California and Enron, Restructuring Electricity Markets: A World Perspective, Alaskan Oil: Alternative Routes and Markets; Perspectives on Power, co-authored with Edward Berlin and William Gillen; The Marginal Cost and Pricing of Electricity: An Applied Approach, with William Gillen and Paul Smolensky; The Costs of Congestion: An Economic Analysis of Wilderness Recreation, with V. Kerry Smith; and Forecasting Recreation in the United States. He has edited Energy Systems Forecasting, Planning and Pricing, with W.K. Foell; and Studies in Electric Utility Regulation, with John Jurewitz.

Contact Dr. Cicchetti by e-mail: cicchett@usc.edu
Curriculum Vitae and PDFs

Jeffrey A. Dubin

Jeffrey Dubin is an expert on damages in intellectual property, antitrust, mergers, and other matters involving econometric, statistical, sampling, and survey analysis. He has extensive experience providing testimony before courts and regulatory bodies, including U.S. district courts, the U.S. Tax Court, the U.S. Surface Transportation Board, state utilities and transportation commissions, and state superior courts. Professor Dubin has testified at trial and depositions.

His research focuses on microeconomic modeling. Professor Dubin's current work concerns energy economics, sampling and survey methods, the valuation of intangible assets, and tax compliance.

He has written five books and has authored many articles on econometric and statistical analysis on a variety of topics, including consumer choice, energy markets, and tax avoidance. Professor Dubin has received the Econometric Society's prestigious Frisch Medal for coauthoring the best applied paper published in the previous two years in the journal Econometrica.

He has taught courses on applied economics, antitrust, and competition. Prior to becoming an adjunct professor at USC and UCLA, he was a professor of economics at the California Institute of Technology for twenty-five years. He is also the cofounder and a partner of the Pacific Economics Group.

Dr. Dubin is an Adjunct Professor of Economics and Statistics, Dornsife College of Letters, Arts and Sciences at the University of Southern California. He received his Ph.D. from the Massachusetts Institute of Technology and A.B. (highest honors) from the University of California, Berkeley. His practices include Antitrust and Competition, Consumer Fraud and Product Liability, Energy and Commodities, Intellectual Property, and Pharmaceuticals and Healthcare.


Contact Dr. Dubin by email: jadubin@alum.mit.edu
Curriculum Vitae (.html)

Blaine Gilles

Blaine Gilles is a Senior Advisor at PEG Research. His career has spanned more than two decades in which he has been a business leader, government regulator, and economic researcher focused on the issues of network-based businesses. Issues that arise with the development of competition in regulated industries are a specialty. He is also an expert in formulating strategies to deal with challenges posed by developing and pricing capital-intensive services and effectively managing profitability amid challenging and rapidly changing regulatory and market conditions. Blaine has served as an expert witness in a variety of regulatory and legal proceedings.

Dr. Gilles played a significant role in the transformation of the U.S. telecommunications industry from regulated monopoly to competition. Between 1999 and 2006, he led the voice services business of WilTel Communications, previously a subsidiary of the Williams Companies, to achieve annual revenues of over $1.3 billion. He held a variety of positions in the regulatory department of Ameritech in metropolitan Chicago. He has also led product management, marketing and sales, and business and technical operations, at Level 3 Communications, NewCross Technologies, and WorldCom. Blaine earlier served as an economist for the Policy Analysis and Research Division of the Illinois Commerce Commission and was an Assistant Professor of Economics at Kalamazoo College.

Prior to joining PEG Research, Dr. Gilles operated a private consultancy where he supported a variety of network-based firms and private equity companies, as well as the U.S. Securities & Exchange Commission and the U.S. Department of Justice. He has been a key advisor to clients on mergers and acquisitions, competitive strategy, and pricing. At PEG Research, Blaine will participate in the Company's energy utility consulting as well as opening a practice in the field of telecommunications.

Dr. Gilles received his PhD and MA in Economics from Michigan State University where he studied regulatory economics with Harry Trebing of Michigan State's Public Utilities Institute. He also earned a BS in Economics and a BA in International Relations from the University of Minnesota. A native of Amherst, Wisconsin, he currently resides in Hoffman Estates, Illinois with his wife and daughter.

Contact Dr. Gilles by email: bgilles@pacificeconomicsgroup.com

Lawrence R. Kaufmann

Lawrence R. Kaufmann is a member of Pacific Economics Group and a Senior Advisor to Pacific Economics Group Research. He develops and undertakes supporting empirical research on performance based regulation (PBR) and competitive market reforms for energy utilities. He has worked with many leading utilities in North America on these issues and has spearheaded our overseas practice. Dr. Kaufmann has been particularly active in Australia, where he has advised energy utilities in five of the six Australian states on a variety of topics. His specialties include PBR plan design, statistical benchmarking, estimating total factor productivity, and incentive regulation theory. He is also a specialist and expert witness on service quality issues. Dr. Kaufmann is an author of over a dozen publications. He holds a Ph.D. in Economics from the University of Wisconsin. Before joining PEG, he was a Senior Economist at Christensen Associates. He has also worked as an international economist for a large commercial bank.

Contact Dr. Kaufmann by e-mail: lkaufmann@earthlink.net

Colin M. Long

Colin M. Long is a member of Pacific Economics Group and a Senior Advisor to Pacific Economics Group Research. He has more than twenty years litigation and consulting experience, specializing in energy and utility-related matters. He is an experienced federal and state court litigator at both the trial and appellate level. He has extensive experience working with regulated industries, particularly in cases involving mergers and acquisitions and matters before the FERC and state regulatory commissions.

Mr. Long received a BA in political science, cum laude, from the University of Southern California and a J.D. from Loyola University School of Law. He is admitted to practice in the State of California, the Ninth Circuit District Courts, the Ninth Circuit Court of Appeals and the United States Supreme Court. He is a member of the American Bar Association and the Association of Business Trial Lawyers.

With Dr. Cicchetti, Mr. Long has co-authored several recent books and articles on energy issues, including "ISOs and Transcos: What's At Stake," "Politics As Usual: A Roadmap to Backlash, Backtracking and Re-Regulation," and "Transmission Products and Pricing: Hidden Agendas."

Contact Mr. Long by e-mail: colin.long@navigantconsulting.com

Mark Newton Lowry

Mark Newton Lowry is the President of PEG Research. He has thirty years of experience as an industry economist. His principal areas of expertise are performance-based utility regulation ("PBR"), other forms of alternative regulation ("Altreg"), and statistical research on utility cost and reliability performance. Regarded internationally as an authority on modern regulation, he supervises empirical work on utility performance and industry price and productivity trends, designs Altreg plans, and gives expert witness testimony. A recent focus of his work is the role that PBR and other forms of Altreg can play in regulating the electric "utility of the future". His practice is international in scope and has included dozens of projects in Canada, where PBR is used today in most populous provinces.

Dr. Lowry has for many years advised the Edison Electric Institute on Altreg issues and teaches the Altreg segment at EEI's Advanced Rates Course. He has also served as an advisor to the Canadian Electricity Association. He has advised regulatory commissions in Australia, Canada, and several Latin American countries. He has testified dozens of times on Altreg and benchmarking issues. His testimony has featured path-breaking applications of production economics in the regulatory arena. Other areas of expertise include natural gas storage, agricultural and mineral economics, and codes of competitive utility conduct.

Before joining PEG Dr. Lowry was a Vice President at Christensen Associates. He provided almost all of Christensen Associates' testimony on energy utility Altreg and benchmarking during his nine years there. Dr. Lowry has also served as an Assistant Professor in the Department of Mineral Economics at Pennsylvania State University and as a Visiting Professor at l'Ecole des Hautes Etudes Commerciales in Montreal. His research and teaching featured the use of mathematical theory and econometrics in industry analysis.

Mark attended Princeton University and holds a BA in Ibero-American Studies and a Ph.D. in Applied Economics from the University of Wisconsin. He can assist clients in French and Spanish as well as his native English. He has authored numerous professional publications and chaired numerous conferences on Altreg and benchmarking.

Contact Dr. Lowry by e-mail: mnlowry@pacificeconomicsgroup.com
Remedies for Regulatory Lag
Forward Test Year Report
Revenue Decoupling for Commonwealth Edison
Benchmarking the Costs of Ontario Power Distributors
Econometric Benchmarking of Cost Performance: The Case of U.S. Power Distributors

Lori Smith Schell

Lori Smith Schell is a Senior Advisor to PEG Research. She is a Certified Energy Risk Professional ("ERP") with over 25 years of experience in the energy industry, including policy analysis work at the U.S. Department of Energy and Los Alamos National Laboratory. Lori is the 2015/16 Vice President-Communications of the International Association for Energy Economics ("IAEE") and is Past President and Senior Fellow of the United States Association for Energy Economics ("USAEE"). Lori also serves on the Board of Directors of Pagosa Verde LLC, a community-based geothermal development company.

Quantifying the costs and benefits of emerging technologies, including all types of solar technologies and fuel cells, individually and as components of larger portfolios of equipment, is a specialty. Dr. Schell has also provided economic analysis of hydrogen filling stations in California. Her current focus is on "power-to-grid" economics, the use of excess renewable generation to produce hydrogen for injection into natural gas pipelines.

Dr. Schell works closely with the Advanced Power and Energy Program at the University of California-Irvine to provide MATLAB-based economic analysis in support to APEP's technical modeling. Analyses include calculating the levelized cost of energy for multiple generating technologies based on scenario-specific technical output.

Dr. Schell was previously the Director of Energy Risk Management for Trigen Energy Corporation, a combined heat and power company focused on maximizing the efficiency of distributed generation. She represented Trigen on the Board of Directors of the Independent Power Producers of New York, Inc. She earlier served as the Manager of Regulatory Affairs & Energy Market Analysis for Air Products and Chemicals, Inc., and as Project Manager at the boutique natural gas consulting firm of Benjamin Schlesinger and Associates, Inc.

Lori holds a Ph.D. in Mineral Economics and Operations Research from the Pennsylvania State University and a B.A. in Economics (Honors) from the University of Washington. Lori and her husband live in Durango, Colorado where they raised their three daughters.

Contact Dr. Schell by e-mail: LSchell@EmpoweredEnergy.com

Dave Hovde

Dave is a Vice President at Pacific Economics Group Research LLC. He has more than twenty years of experience in the study of energy utility cost and productivity issues. He also teaches courses at Carroll University and Madison Area Technical College. Before joining PEG, he worked as a Senior Economist at Christensen Associates. He holds a BA in Economics, International Relations, and Political Science, and an MS in Economics from the University of Wisconsin, Madison.

Contact Mr. Hovde by e-mail: hovde@pacificeconomicsgroup.com

 






John Kalfayan

John is a Senior Advisor of PEG Research. Since 2002, John has provided econometric modeling support for PEG in the areas of Alternative Regulation and Benchmarking. An industry economist for more than fifteen years, John has developed mathematical models for a wide range of projects, creating evaluation tools for risk management in electricity and gas markets, and for pricing electricity to retail markets under volatile supply conditions and demand uncertainty. He has also been involved in the design of utility pricing mechanisms including Real Time Pricing since the early 1990s. Kalfayan has developed software that has been widely used in the evaluation of a range of market-based energy products, including interruptible services. John was previously in senior management at the World Council of Credit Unions, a Senior Economist at Christensen Associates, and a professor of graduate and undergraduate courses in economics and business. He has French and German language capabilities and degrees in economics from Carleton College and the University of Wisconsin. His publications include work in econometrics and development economics.

Contact Dr. Kalfayan by e-mail: jkalfayan@pacificeconomicsgroup.com

Kaja Rebane

Kaja is an Economist II at PEG Research. A Las Vegas native, she has an undergraduate degree from Stanford University and Master's degrees in Land Resources and Applied Economics and a certificate in Energy Analysis and Policy from the University of Wisconsin. She is currently pursuing a doctorate in Environment and Resources from the University of Wisconsin.

Contact Ms. Rebane by e-mail: krebane@pacificeconomicsgroup.com






Matt Makos

Matt is a Consultant at PEG Research. He plays a leading role in the gathering, appraisal, and documentation of Altreg precedents and maintains the company's Altreg library. A native of Darlington, WI, Matt holds a Bachelor's degree in Business Administration from the University of Wisconsin.

Contact Mr. Makos by e-mail: mmakos@pacificeconomicsgroup.com









Gretchen Waschbusch

Gretchen is the Madison office manager for PEG Research and is also active in our empirical research. A native of West Bend, WI, she holds an undergraduate degree in Business Administration from UW and an MBA from Edgewood College here in Madison. Prior to joining PEG Research, Gretchen was a branch manager for a major Midwestern bank.

Contact Ms. Waschbusch by e-mail: gwaschbusch@pacificeconomicsgroup.com








Stelios Fourakis

Stelios is an Economist I at PEG Research. He is active in our empirical research. A native of Middleton, WI, he holds a BA in Political Economy from Georgetown University. Prior to joining PEG Research, Stelios was a Congressional intern and worked at Turnberry Consulting, where he helped statistically benchmark horseracing performances.

Contact Mr. Fourakis by e-mail: sfourakis@pacificeconomicsgroup.com






Alex Verbny

Alex is an Economist II at PEG Research. Originally from Kharkov, Ukraine, he has spent the past 20 years in Madison. He received a BS in Economics and Mathematics and an MS in Economics from the University of Wisconsin. He has taken all required coursework for a PhD in economics with majors in econometrics and macroeconomics. Alex worked as an intern at PEG Research while completing his undergraduate studies.

Contact Mr. Verbny by e-mail: averbny@pacificeconomicsgroup.com