Tomas Haug is a Managing Director in NERA’s Berlin office who has 15 years of consulting and testifying experience. He specialises in providing economic assessment and damages quantification in litigation and international commercial and investment treaty arbitration proceedings at venues such as ICSID, ICC, DIS, PCA, and ad hoc for both public and private entities. Mr Haug has provided testimony—predominantly in energy and commodities markets (including nuclear, gas and electricity, solar, offshore wind, and biomass)—involving the quantification of lost profits and price adjustments of long-term contracts. His testimonies have helped arbitral tribunals adjust contract terms on the basis of change of circumstance, hardship, and/or on the basis of anti-competitive behaviour. Mr Haug further provides advisory services to private companies, investors, and regulatory authorities on a wide range of economic and financial matters, including financial and tariff modelling, access pricing, competition policy matters, tariff structure, efficiency studies, and wider questions of regulatory reform. He is a CFA charterholder and an expert on cost of capital estimation, financial modelling, and the assessment of financial risk, including the design of mechanisms to mitigate risk. Mr Haug has also acted as a due diligence advisor in several recent billion-euro network sales in Germany, Austria, France, Belgium, the Czech Republic, and the UK, as well as other countries.