I am an independent energy consultant with experience of physical and financial electricity, gas and oil markets. I also have significant experience in financial services spanning both risk management and financing.
I started Watt-Logic in 2016, initially as a blog which grew into a consulting business. I work with clients across Europe (both EU and non-EU) on a range of energy topics. Examples of projects include negotiating a route-to-market arrangement for CCGTs, advising new entrant electricity suppliers on procurement, risk management and regulatory obligations, assisting businesses in evaluating new investments in behind-the-meter storage and energy-from-waste, and acting as an expert witness in an infrastructure-related dispute.
Career History
I have spent my career in the finance and energy sectors, with a focus on structured products and new business development. I began my career in the City, initially at Deloitte, before joining the new Capital Markets & Advisory team at Commerzbank where I worked on various public and private equity financings, and M&A transactions for Technology, Media and Telecoms companies. I was a casualty of the dotcom collapse and took the time to study for an MBA at London Business School.
After finishing my MBA I joined Barclays Capital, initially in fixed income, and subsequently in the newly-formed Commodities Corporate Structuring team developing bespoke derivatives structures to help corporate clients to manage complex commodity exposures. The structures I worked on included basket options for manufacturers using multiple commodities as raw materials, best-of options for utilities buying LNG on a formula linked to the higher of an oil formula and NYMEX gas, various option structures for European utilities buying gas on oil formulae, and FX and interest-rate-linked structures. Although I had a cross-commodity focus, this was my first exposure to the energy sector and I still remember the feeling that I was home when I first learned about linepack (probably a sign I needed to get out more!).
My next role was fully focused on energy as I joined EDF Trading as Head of Structuring & Pricing, where I was responsible for the design and delivery of new structured transactions including asset optimisation (virtual power plants, gas storage, swing, interruptions) as well as standard physical and financial derivatives. I was also responsible for the valuation and position management system for structured deals.
From there I moved to French bank Societe Generale, developing structured commodities transactions, with a focus on gas and power, upstream oil and LNG, leveraging the bank’s physical trading platform and strong commodity-lending franchise. I delivered a number of highly innovative, award-winning transactions, generating new multi-million euro revenue streams, particularly in the area of inventory monetisation and secured asset-based lending, as well as development of secured hedging programmes in support of Reserves Based Lending.
Most recently I spent time at Centrica as a Senior Originator, where I focused on development of new business streams including prepaid structures, route-to-market services for small energy producers (North Sea oil and gas producers and small electricity generators), and re-structuring of legacy contracts.
Professional Memberships & Qualifications
I hold a Master’s degree in Physics (MPhS) from the University of Exeter, and a Master of Business Administration (MBA) degree from London Business School.
I am a Chartered Fellow of both the Chartered Institute for Securities & Investment and the Chartered Management Institute. I’m also a member of various energy industry bodies including the All-Party Parliamentary Group for Energy Studies, where I have recently become an associate member of the Executive Council.
Other Interests
I have a strong interest in diversity and was Head of the UK Women’s Network at Societe Generale and a member of the Centrica Women’s Network Exco, representing both organisations in various external groups promoting the inclusion of women across the finance and energy sectors. I am an active member of various mentoring schemes, and am particularly engaged in encouraging young women to enter traditionally male industries. I am frequently asked to speak at schools, universities and business schools to share my experiences and why I believe careers in STEM areas are just as relevant for women as for men.
I am also Trustee of The Kids’ Cookery School, an amazing charity focused on teaching cooking and nutrition skills to children across the UK, and the Royal Choral Society, one of the leading amateur choirs in the country.