Julia Frayer is a Managing Director with London Economics International LLC (“LEI”), specializing in economic analysis and evaluation of infrastructure assets, such as power plants, natural gas-related infrastructure, electricity transmission and distribution systems, and utilities, as well as market design and expert economic advisory services for power markets. She has worked extensively in the US, Canada, Europe, and Asia in valuing electricity generation and wires assets, water and wastewater networks, as well as gas transportation assets, and in advising on market rules, innovative rate design, and institutional best practices.
Julia manages LEI’s quantitative financial and business practice area, and also specializes in market and organizational design issues related to electricity. In addition to electric generation sector market power and anti-trust analysis, sample projects include:
- cost of capital estimation;
- rate-setting analysis;
- short- and long-term forecasting of wholesale power prices;
- valuation of generators and vertically-integrated utilities;
- assessment of retail market design including provider-of-last resort portfolios and contracts;
- advice on and design of energy sales agreements; and
- advisory on structuring request for proposals and sale processes for energy assets and derivative contracts.
As part of these analyses, Julia and her team of economists and consultants have developed and applied proprietary real-options based valuation tools, portfolio risk analytics, models of strategic bidding behavior, and sophisticated power system simulation tools, as well as customized econometric models. Julia also leads many of the firm’s regulatory economics projects, spanning such diverse issues as cost-benefit analysis, market power mitigation, tariff ratemaking, auction design (including competitive solicitations for procurement), wholesale market rules design, productivity analysis and efficiency benchmarking.
Prior to joining LEI, Julia was working as an Investment Banker with Merrill Lynch in New York.