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Projects (selection)

  • WACC 2026 for Swiss electricity grids and renewable energies (2024 – 2025). What is the appropriate cost of capital for Swiss electricity grids and renewables for 2026? Client: Bundesamt für Energie (BFE).  
  • Impairment of a damaged asset (2024). Does a damaged asset have to be written off?  
  • Modelling of debt and capital structures (2024). What is the impact of debt structure and repayment schedule on cash flows, dividends and profit?  
  • Effect of price signals and government measures on electricity demand (2023 – 2024). How have end customers reacted to the rise in electricity prices? What role do government measures play? Client: State Secretariat of Economic Affairs SECO.  
  • Dublin Airport WACC (2022). Should Dublin Airport's regulatory WACC be amended in light of Covid-19? Client: Commission for Aviation Regulation (CAR).  
  • Support for the definition of the incentive regulation of Austrian DSOs (2022). How should the system for the new regulatory period for the Austrian gas distribution networks be defined? Client: Wirtschaftskammer Österreich (WKÖ).  

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  • Determination of Xgen in Germany (2022 – 2023). Have German gas and electricity networks become more productive? At what level should the Xgen be set for the fourth regulatory period? Client: Bundesnetzagentur (BNetzA).  
  • Damages assessment in an arbitration case (2020 – 2022). What is the damage arising from the enactment of new EC law on an affected business?  
  • Regulation, costing and pricing of district heating (2020). What are the cost drivers of district heating? What is a "fair" price for district heating? How should the governance and regulation for district heating networks look like? Client: Services Industriels de Genève (SIG), Office cantonal de l'énergie (OCEN).  

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Publications (selection)

  • Habibulina Lilia, Hoffmann Mathias (2024). Softening the Blow: US State-Level Banking Deregulation and Sectoral Reallocation after the China Trade Shock. Journal of Political Economy Macroeconomics.  
  • Eschenbaum Nicolas, Habibulina Lilia, Sabotic Maida, de Luze Romain, Meyer de Stadelhofen Leah, Trinkner Urs (2024). Effect of price signals and regulations on electricity demand. Foundations for economic policy.  
  • Binz Tobias, Mattmann Matteo, Habibulina Lilia, Apreda Luca (2022). Dublin Airport Cost of Capital for 2022 Interim Review. Report for the Commission for Aviation Regulation.