John Cochrane specializes in advising gas and electric utility clients in all economic, regulatory, and financial aspects of the business. He has more than 30 years of US and international utility experience. He has testified in rate matters before the FERC and at the state level, has held C-suite and other senior leadership positions at major US utilities, and served as a member of the Board of Directors on a variety of energy sector companies including start-ups.
Mr. Cochrane has extensive utility experience, which includes all areas within corporate finance, mergers and acquisitions, joint ventures, partnerships, restructurings, federal and state regulation, gas and electric supply, and business development, both domestic and international. He has more than 30 years of US and international utility sector experience and has testified in rate case matters relating to capital structure/cost of capital, mergers and acquisitions, and financings before FERC and various state-level regulatory bodies.
During his tenure, Mr. Cochrane’s engagements have included the municipal electric and water utility in Jacksonville, JEA, in their pursuit of strategic options, NiSource in the sale of its Massachusetts gas distribution business to Eversource, management audits of National Grid in Massachusetts and New York and of Iberdrola/Avangrid’s operations in New York, John Hancock Infrastructure Fund in its acquisition of a solar development company, Liberty Utilities testimony for rate cases in New Hampshire and Missouri on capital structure and cost of capital, and the Puerto Rico Public Private Partnership Authority on its restructuring of the transmission and distribution and generation assets owned by PREPA.
While at National Grid, he led the financial analysis, due diligence, negotiations, and final regulatory approvals for National Grid’s acquisitions of Keyspan and RI Gas assets from Southern Union, and Niagara Mohawk. Mr. Cochrane also oversaw finance function integrations for National Grid with NEES, Eastern Utilities Associates, Niagara Mohawk, RI Gas, and Keyspan, creating the second largest US utility at the time with a total enterprise value of $27B.
As head of Global Business Development and Mergers & Acquisitions for National Grid, Mr. Cochrane led all business development, mergers, acquisitions, divestitures and joint ventures, globally. He was responsible for the sale of a wide range of businesses totaling $10B; the successful renegotiation of a 15-year, $4.5B power supply agreement with Long Island Power Authority; and the commercial and regulatory negotiations for a $3B joint venture with six New York transmission owners. He also led project development and implementation processes for four £1B submarine interconnectors between the United Kingdom, Norway, Belgium, France and the Netherlands.
Mr. Cochrane has served as a US board member on US/European companies involved in cross-border tax structures including Luxemburg, Ireland, Jersey, Iceland, and Malta.