Mike Tolleth

Mr. Tolleth specializes in the economic analysis of energy markets, with expertise in financial modeling and valuation of energy assets, contracts, and businesses.

He supports clients in litigation and arbitration matters and provides expert testimony on issues of cost of service, rate design, cost of capital, regulatory policy, long-run marginal cost pricing, and market power in the utility and midstream oil and gas sectors.

Mr. Tolleth leads engagements featuring competitive price analysis, business valuation, and damages estimation related to contract disputes and securities litigation in the midstream and downstream petroleum sectors. He also assists clients with the valuation of upstream oil and gas production assets and operations in the context of tax litigation.

In the regulatory litigation domain, Mr. Tolleth has advised clients and testified on pipeline rate regulation matters before the Federal Energy Regulatory Commission (FERC), the Canada Energy Regulatory (CER), and the California Public Utilities Commission (CPUC).

He also has extensive experience analyzing business risk and estimating the cost of capital for regulated companies in the utilities, pipeline, and railroad industries, as well as for valuation and marginal cost pricing applications.

Mr. Tolleth has testified on utility cost of service matters before the CPUC and the British Columbia Utilities Commission (BCUC), and has contributed to expert reports on financing costs in unregulated infrastructure industries, including electric generation and Liquid Natural Gas (LNG) production and distribution.