Tyndall Centre Visiting Fellow
SPRU — Science & Technology Policy Research
University of Sussex, UK
Energy Economics, Finance & Technology
shimon awerbuch
shimon awerbuch
shimon awerbuch shimon awerbuch shimon awerbuch

Selected Activities

Actively engaged in research, consulting and publication for over 30 years in a variety of areas including: utility regulation and restructuring, energy and the environment, finance and investment analysis, process innovation, accounting measurement theory and public policy analysis

Unlocking the Benefits of Restructuring: A Blueprint for Transmission, (PUR, 1999);

The Virtual Utility: Accounting, Technology & Competitive Aspects of the Emerging Industry, (Kluwer Academic, 1997)
The Virtual Utility

Series Editor
Elsevier Topics in Global Energy Economics, Regulation and Policy

50+ book chapters and journal articles including American Economic Review, Journal of Regulatory Economics, Energy Policy, Electricity Journal, Management Science

70 invited presentations and workshops for corporate and public policy makers, regulators and academic institutions; 60 major conference presentations.

Assistant Professor of Finance
College of Management, UMass–Lowell, 1986 – 1993

Guest Editor
Energy Policy, Special Issue on Renewables

Editorial Board Member
Energy Policy

Section Editor
Progress in Solar Energy Technology and Applications
Boulder: American Solar Energy Society 1993

Invited Presentation
UN Commission on Sustainable Development, New York.

Symposium on The Virtual Utility: Accounting, Technology & Competitive Aspects of the Emerging Industry, RPI (1996)
Papers on the future of electricity generation and delivery by noted scholars including: R. Bower, M. Crew, M. Ilic, P. Kleindorfer, N. Nohria, Wm. G. Shepherd, S. Oren and Bridger Mitchell.
The Virtual Utility

Symposium co-organizer
The Partially Regulated Firm: Issues in Accounting-Based Valuation and Technology Adoption, Columbia University (1989)
Papers by leading accounting scholars including: Benston, Gordon, Greenwald, Solomons and Sterling.

Journal Referee
Financial Management, Journal of Regulatory Economics, Energy Policy, Utilities Policy; Journal of Accounting and Public Policy;

Affiliated Research Fellow, CITI, (‘87-‘93) and Visiting Scholar
Sustainable Development Initiative, Global Climate Change Task Force, Columbia University;

Listed: Who’s Who in the East, Macmillan (Marquis)
Profiles in Business and Management: International Dictionary of Scholars and Their Research, Harvard Business School Press.

Visiting Professor
University of Urbino, (Italy) December, 2000.

Special Advisor
Instituto de Investigaciones Eléctricas, Cuernavaca, Mexico

Special Advisor
Energy for Environment Foundation, Bangkok, Thailand

Electricity Market Restructuring– Transmission Organization Regulation and Pricing

Led a prominent team of experts (R. Bower, M. Crew, L. Hyman, M. Ilic, L. Fink, P. Kleindorfer, S. Oren and I. Vogelsang) in the design of innovative organizational, pricing and regulatory regimes for transmission networks; findings published in book form (1999).

Testified before FERC in support of International Transmission Company’s filing as the first ITC under FERC Order 2000; 7 million approved by FERC.

Process Innovation – Strategic Analyses – Activity-Based Costing – Technology Adoption

Developed and implement process improvements for major US utility including: i) Activity-based-cost (ABC) to identify non-value adding activities and develop innovative maintenance scheduling/planning strategies to fit the firm’s geographically dispersed asset portfolio (savings: million p.a.); ii) Cost-cutting processes and protocols (savings: million p.a.), and iii) Sophisticated investment analysis including risk and timing/life-cycle of new technologies; enabled firm to avoid uneconomic million operations center investment.

Applied capital market theory to demonstrate that private and societal benefits of a Fortune 100 firm’s emissions control technology exceeded costs by 4 million, contrary to Big-6 analysis.

Directed Activity-Based-Cost analysis for advanced metering; demonstrated conventional electric metering costs of /meter annually, four times the previous estimate.

Analyzed financial/strategic value of a utility’s transmission business including asset valuation, debt capacities, risk and cost of capital; findings reversed previous decision to divest, ultimately yielding million in annual benefits.

CAPM-Based Valuation of Nuclear Sale

Evaluated proposed nuclear sale to show that by reducing risk, the sale produced significant savings, rather than creating 0 million in costs as previously estimated.

Applied lease-based valuation to demonstrate that a PPA’s “excess cost” was 0 million less than previously thought, thereby reducing the firm’s regulatory penalty by that amount.

Used risk-adjusted methodologies to demonstrate that a PUC-mandated fuel-switching program was not cost-effective thereby saving million annually.

Environmental/Societal Impacts of Technologies and Startegies

Used societal and market-based approaches and Lind-Arrow theory to show that an Indian Nation’s energy efficiency investments were cost-effective.

Regulatory Depreciation and Operations Analysis

Provided theoretical justification for shorter telecommunications equipment depreciation lives by showing that accelerated depreciation reduces regulated rates.

Helped a utility better utilize its fossil generation by modifying deployment protocols on the basis of econometric analysis of O&M cost drivers; reduced cost by 0 million p.a.

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