April 17, 2019

Energy: extinction of the dinosaurs… Petroleum Rex versus Nukeonosaurus?

The process was triggered on a large scale in the months following the Fukushima accident, with the German decision to decommission nuclear power plants. This dealt a devastating blow to the phase of excessive investment in traditional European utilities, an enthusiasm which had already cooled down considerably after the subprime crisis and the end of […]

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Brexit and the energy market

Every day, energy market analysts comment, systematically and seemingly without any particular rules, on market movements and outlooks (bullish, bearish or stable) with respect to the expected BREXIT type (soft, hard, something in between, etc.) Thus, for example, any negative development on the outlook of the UK leaving with a deal will explain the bullish

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French capacity certificates are being traded at €20K/MW for 2020 supply. EDF is securing the market

On 21 March, the first auction of capacity certificates for the 2020 year resulted in an exchange of 4.17 GW with a price of €20K/MW. This price remains consistent with 2019 prices (€17.365K/MW on average) and confirms the constant increase of the capacity price in France. According to our analysis, the margin of the supply/demand

French capacity certificates are being traded at €20K/MW for 2020 supply. EDF is securing the market Read More »

Third Party Access to storage compensation for 2019: CRE decision of 14 March 2019

In its latest newsletter, the CRE [French Energy Regulatory Commission] provided an update on the 2019-2020 storage capacity auctions and published the storage compensation tariff component (‘storage compensation’) value applicable from 1 April 2019. The entirety of the natural gas storage capacity put up for auction was subscribed. The CRE underlined the success of the

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Each month, one of our experts publishes an article describing his view on a specific topic of the constant changes taking place in the energy market, with special focus on the French market.

Investment Advice

“Decarbonization of the Energy and Transport sectors is arguably today’s main economic driver for the industry.”

Profesional Experience

His career started in civil engineering as a Project Manager in France, Martinique and Australia. Afterwards, he became the General Manager of a subsidiary in Venezuela. In 1992, he established Dalkia in Germany (district heating, cogeneration, and partnerships) and represented Véolia in Thailand. In 2000, he opened the commercial office of Endesa in France to take advantage of the liberalized retail market. From 2006, as a development Manager at Endesa France, he led Endesa’s plan for Combined Cycle generation in France and developed the wind and PV portfolio of Snet at the same time. Philippe Boulanger worked for 3 years at E.ON’s headquarters coordinating the company´s activities in France. He was strongly involved in the French hydro concession renewal project. As a Senior Vice President – Project Director at Solvay Energy Services from April 2012 to February 2014 he was in charge of the H2/Power to gas and European direct market access deployment projects. Philippe has been an HES expert since 2014.


Philippe Boulanger holds engineering degrees both from the Ecole Polytechnique and the Ecole Nationale des Ponts & Chaussées (France) and has a combined experience of more than 25 years in energy and infrastructure. In addition to English, Mr. Boulanger is fluent in French, German & Spanish.

Philippe Boulanger

Electricity Expert


“The world is changing. New investors pay particular attention to the energy sector while historical actors adapt their position to the market.”

Profesional Experience

Antonio started his career in the electricity sector in 1991 working as a member of the General Manager’s team at Sevillana de Electricidad (Spain). In 1997, he was appointed head of commercial regulation at Endesa Distribución. In 2000, he joined the mergers and acquisitions (M&A) department of Endesa Europe. He was appointed Managing Director of Endesa Power Trading Ltd (UK) in 2003. A year later, he became responsible for energy management at SNET (France). In 2008, he was appointed Managing Director of SNET (France). In 2009, he became Director of Corporate Development at E.ON France. In 2011, he founded Haya Energy Solutions (HES), a consulting firm focused on optimising the energy management of consumers, producers and retailers of gas and electricity. From 2015 to 2018, Antonio combined the consulting activity at HES with the general management of 2 production facilities in France (2 CCGTs x 410MW), owned by KKR. At the end of 2018, he joined Asterion Industrial Partners, an infrastructure investment fund, as an operating partner. Antonio currently devotes most of his efforts to the Asterion Portfolio, while advising through HES companies in the energy sector in France, Italy, Germany, UK and Spain. 


Antonio graduated from the Escuela Técnica Superior de Ingenieros of Seville (Spain) and holds an MBA degree from Deusto University (Spain). 

Antonio Haya