People
Jay Faris
Senior Consultant
Jay is a financial economist who advises governments, regulators and companies on matters of risk, financing and investment. He works across regulated and infrastructure sectors, with particular expertise in cost of capital, financeability and investment under uncertainty.
Jay is a Senior Consultant at CEPA. His work focuses on applying financial economics and quantitative analysis to questions of risk, financing and investment, particularly in regulated and infrastructure sectors.
Jay has particular expertise in regulatory finance and the cost of capital. He has advised clients across the UK, Ireland, Europe and Australia on price controls and regulatory frameworks in water, energy, telecommunications and aviation. His work covers the estimation of required returns and financing costs, financeability and financial resilience, and the design of regulatory frameworks that allocate risk and support efficient investment.
Jay’s work also extends to wider questions of infrastructure investment and policy. He has advised the Department for Transport on the use of real options analysis in transport appraisal. He has also advised on the financing and regulatory frameworks for long-duration electricity storage, offshore transmission and renewable generation.
Before joining CEPA, Jay was a Senior Research Assistant at the Federal Reserve Board in Washington, D.C., where he supported the International Finance Division's macroeconomic modelling and research. He holds an MPhil in Economics from the University of Oxford, where he focused on financial economics, macro-finance and microeconometrics, and a BA in Mathematics from New York University.
- Sector experience:
- Energy
- Water
- Infrastructure
- Transport
- Communications, media & payment systems
- Expertise:
- Modelling
- Public policy & strategy
- Finance
- Location:
- United Kingdom
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