Our Team

Marie Fagan

Marie leads LEI’s engagements related to natural gas market analysis. She directs gas pipeline modeling efforts based on a sophisticated network model, supporting outlooks for natural gas prices and basis, and analysis of flows on North American interstate pipelines. She provides in-depth expert testimony on issues such as basis differentials, pipeline capacity and utilization in key regions, and LNG import and export supply and demand. Recent projects for LEI have included serving as independent market expert for the Maine Public Utilities Commission, in the evaluation of the costs and benefits of new natural gas pipelines into New England, which included reviewing pipeline precedent agreements and negotiated rate agreements, and leading quantitative analysis of costs and benefits; for a private investor, she evaluated contracts for firm gas transportation capacity for gas-fired plants in PJM and ISO-New England.

Marie directs LEI’s research of the Electric Reliability Council of Texas (“ERCOT”) electric power market. Recent projects have included assessing the current ancillary services (“CAS”) market and proposed Future Ancillary Services Nodal Protocol Revision Request (“FAS-NPRR”) in ERCOT; examination of the political, legislative, and economic drivers that led to creation of ERCOT’s Competitive Renewable Energy Zones (“CREZ”) and assessment of the potential for state-level support for further expansion of CREZ transmission lines; and assessment of and outlook for ERCOT’s and the Public Utility Commission of Texas’s views of the “system cost” of wind.

Marie draws on her long-time experience across fuels and regions to ensure clients benefit from an integrated understanding of market rules and practices. Recent projects have included providing expertise related to FERC practices around monitoring, enforcement, and prosecution of potential market manipulation; providing analysis of market rules and regulatory risks to support a client’s compliance program; and SWOT analysis of the economic and regulatory environment for the power sector in a Canadian province. Marie is experienced in the use of scenario analysis, an approach which helps clients identify potential turning points and arrive at decisions that are more robust given the uncertainties inherent in any future set of market conditions.

From 1996-2014, Marie was with Cambridge Energy Research Associates (“CERA,” now part of IHS, Inc.). She served as an Associate, then Associate Director for CERA’s Global Oil research practice, as Director for the North American Gas research practice; she founded the CERAView Institutional Investor Service and co-founded CERA’s Global Steam Coal service; she served as Senior Director for CERA’s North American Electric Power service and of IHS CERA’s Upstream Strategy service. Before joining CERA, Marie served as an economist with the United States Energy Information Administration (“EIA”), conducting analysis and modeling supporting the Annual Energy Outlook (“AEO”), and conducting analysis of energy company financial performance.

Marie is the author of original research with publications in academic and industry journals. She holds a PhD in Economics from the American University in Washington, DC.