Leonardo Giacchino, PhD

PhD, Economics, Duke University; MA, Economics, Duke University; BA, Economics, Universidad Católica Argentina
Languages: English, Spanish; Working Knowledge of: Portuguese, Italian, French

Dr. Leonardo R. Giacchino provides economic and financial analyses and advisory services in litigations, arbitrations, and regulatory matters. Over the course of more than 30 years, he has worked in more than 40 countries on over 100 projects that have addressed economic and regulatory issues for U.S. and international businesses, investors, governments, and organizations. He has calculated damages and compensation estimates; helped negotiate tariff adjustments and regulatory reform with politicians and regulators; provided opinions on contract disputes; performed demand, tariff, pricing, and cost studies; developed business plans for new regulatory agencies in several countries; conducted due diligence and feasibility studies for power plants, utilities, and pipelines; and developed network models for the energy industry. Dr. Giacchino has vast experience in regulated industries such as the natural gas, electricity, oil, mining, water, transport and milk industries. He has also worked on many unregulated industries.

Dr. Giacchino has provided testimony in numerous forums; these include FERC, U.S. federal district court, US states courts, Mexico’s Federal Court, South Africa’s High Court, the London Courts of International Arbitration (LCIA), the International Centre for Settlement of Investment Disputes (ICSID), the International Chamber of Commerce (ICC), the American Arbitration Association (AAA), the International Centre for Dispute Resolution (ICDR), and the International Arbitral Centre of the Austrian Federal Economic Chamber. He has participated as expert in proceedings before public utility commissions in Argentina, Australia, Bolivia, Brazil, Guatemala, Mexico, Peru, and the United States.

Dr. Giacchino is Adjunct Professor at the Washington College of Law (American University) where he teaches damages in international arbitration. Dr. Giacchino is a former faculty member at the PURC/World Bank International Training Program on Utility Regulation and Strategy, University of Florida, Public Utility Research Center and previously taught economics at Duke University and at Universidad Católica Argentina. He was Vice President at NERA and a Partner at Bates White, where he provided economic analysis and advisory services in regulated markets. He served as Senior Economist at a private oil and natural gas company in Argentina and worked at another. In his work at the oil and gas companies, he coordinated project evaluations of oil field auctions, renegotiated contracts with the state owned companies, directed research in international energy markets, and participated in planning for the deregulation of energy markets in Argentina. He has an extensive background in microeconomics, regulation, finance, modeling, econometrics, international trade and finance, and macroeconomics. He is also the coauthor (with Dr. Jonathan Lesser) of Fundamentals of Energy Regulation, published in 2007 (first edition), 2013 (second edition) and 2019 (third edition) by Public Utilities Reports, Inc. (PUR) and 2024 (forthcoming fourth edition) by Regulatory Economics Publishing, LLC. He also coauthored Principles of Utilities Corporate Finance, also published by PUR in 2011. He is in the Editorial Board of the Journal of Damages in International Arbitration. He is listed in Who’s Who Legal as one of the world's top international arbitration experts.


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5615 Northfield Rd
Bethesda, MD 20817
(202) 375 3673 (cell)
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Court Experience

  • FERC
  • U.S. federal district court
  • US states courts
  • Mexico Federal Court
  • South Africa's High Court
  • London Courts of International Arbitration (LCIA)
  • International Centre for Settlement of Investment Disputes (ICSID)
  • American Arbitration Association (AAA)
  • International Centre for Dispute Resolution (ICDR)
  • International Chamber of Commerce (ICC)
  • International Arbitral Centre of the Austrian Federal Economic Chamber
  • Armed Services Board of Contract Appeals

Regulatory Proceedings in

  • Argentina
  • Australia
  • Bolivia
  • Brazil
  • Guatemala
  • Mexico
  • Peru
  • United States

Areas of Expertise

  • Competition
  • Contract negotiations
  • Costing practices
  • Demand and price studies
  • Due diligence
  • Energy
  • International Arbitration
  • International economics
  • Market power and market valuation analysis
  • Policy recommendations
  • Price and rate design
  • Privatization
  • Regulatory policy and market design
  • Regulatory strategy
  • Restructuring
  • Transport
  • Water