Future Leaders

Mr Haug 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. He 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 based on change of circumstance, hardship, and/or anti-competitive behaviour.

Mr Haug provided testimony in relation to abusive pricing on the part of a dominant gas supplier and performed the financial reversal of the gas supply contract. In a recently concluded ICC arbitration, Mr Haug testified in the context of long-term gas transportation contracts on matters related to alleged violations of the Treaty on the Functioning of the European Union (TFEU) Article 101 (restriction of competition) and Article 102 (abuse of dominance), as well claims of hardship and an unforeseen change of circumstances. He has been retained by employers and construction firms as quantum expert to assess damages and lost profits, considering the difference between the actual scenario and a counterfactual scenario (e.g., but-for the supplier’s defective components). Mr Haug has provided expert witness testimony in investor-state arbitrations concerning offshore wind investments.

Tomas Haug is a managing director in NERA’s Berlin office and 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 and PCA 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 to adjust contract terms based on change of circumstance, hardship and 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 adviser in several recent network sales in Germany, Austria, France, Belgium, the Czech Republic and the UK, as well as other countries.