Agenda
Registration & networking
Gas – not enough for the winter, too much thereafter?
Networking break
Energy networks: regulating for the transition
Closing remarks
Networking lunch
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Paul Marty is a Associate Managing Director in Moody’s EMEA Infrastructure Finance team, based in Paris. He oversees a team of analysts covering regulated and unregulated utilities across EMEA and is also responsible for a portfolio of utilities in Portugal. Over the course of a long career at Moody’s, Paul has covered a broad range of sectors including oil & gas and real estate and is experienced in rating both conventional and complex structured financing arrangements. Paul is an authority on the European utility sector and the lead author of Moody’srating methodology for regulated electric and gas networks. He has published extensively on the utility sector, authored well-received reports on environmental risks and developments, and frequently presents Moody’s views at investor roundtables and other events. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2trillion of corporate and project finance securities, representing more than 90% of all public bonds issued globally in the sector. 180 analytical sector staff cover more than 1,700 infrastructure issuers globally. Moody’s EMEA team of 46 specialists is responsible for rating around 430 issuers. The rating agency covers more than39,000 issuers and transactions. Paul’s prior work experience includes 3 years in an independent credit research boutique, covering high-yield corporate issuers. Paul started his career in Mergers& Acquisitions at BNP Paribas where he worked on a number of transactions in the oil & gas sector. Paul graduated from the ESSEC Business School in Paris, France. He is fluent in English and French.
Benjamin Leyre is a senior analyst in the EMEA Infrastructure Finance Group, based in Paris. He has responsibility for a portfolio of Southern European utilities, including unregulated electric and gas utilities, and regulated electric and gas networks. Benjamin has a wide range of utility experience acquired through a number of roles which he uses to comment on sector credit themes. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2trillion of corporate and project finance securities, representing more than 90% of all public bonds globally in the sector. 140 analytical staff cover more than 1,000infrastructure issuers globally. Moody’s EMEA team of 50 specialists is responsible for rating 416 issuers. The rating agency covers more than 11,000 corporate issuers and 135 sovereign nations. Before joining Moody’s, Benjamin worked for Norway’s sovereign wealth fund, where he was heading the global energy team, and managing the fund’s European utilities equity portfolio. Prior to this, he worked as an equity analyst for ExaneBNP Paribas, as the head of its European utilities team, with direct coverage of large European corporates. Benjamin also worked as a senior consultant with IHS CERA, where he provided strategic advice to utilities, banks and governmental institutions in the US and in Europe, and where he kick-started the consultancy European environmental practice. Benjamin holds an M.Sc in Technology and Policy from M.I.T. and a M.Eng in mechanical Engineering and Energy Economics from Ecole des Mines de Paris. He is fluent in English and French.
Mark Remshardt is a senior credit officer in the EMEA Infrastructure Finance Group, based in Frankfurt. He holds the responsibility for a portfolio of regulated networks and unregulated utilities in Germany and The Netherlands.
Moody’s has a leading global Infrastructure Finance franchise, rating some US$2.8 trillion of corporate and project finance securities. Our team of 148 analytical staff covers more than 2,700 public and private sector infrastructure issuers globally. Moody’s EMEA team of 48 infrastructure specialists is responsible for rating around 330 issuers with approximately US$756 billion in debt outstanding. Moody’s Investors Service covers a total of more than 35,000 issuers and structured finance transactions worldwide, representing more than US$73 trillion in rated debt.
Mark has considerable experience of assessing credit risk across a wide range of sectors, including utilities, oil & gas companies and large global industrial corporates, acquired in more than twenty years in the banking and financial services industry.
Before joining Moody’s, Mark worked for Australia and New Zealand Banking Group where he was the responsible senior analyst for a portfolio of German and Swiss corporates. Prior to that he worked for Crédit Agricole CIB as senior risk analyst, covering first the bank’s German automotive portfolio before being responsible for German and Central European utilities and oil & gas companies. Mark also worked in various analyst and relationship management positions for Zurich Financial Services, ING-BHF Bank (today ODDO-BHF Bank) and KfW Kreditanstalt für Wiederaufbau (today KFW-IPEX Bank).
Mark holds a degree in economics (Diplom-Ökonom) from Hohenheim University in Stuttgart. He is fluent in German and English.
Diego manages and coordinates Iberdrola´s 200 M€ venture capital program – Iberdrola Ventures - PERSEO, that invests & collaborates with the most promising smart energy start-ups worldwide, and he also leads the Technology Prospective Analysis unit in charge of assessing the potential of key technologies for the future of the energy sector.
He joined Iberdrola back in 2008 and since then he has contributed to the launch and management of the company´s venture program, engaging its activity with the corporate innovation strategy. Leading a team of investment professionals, he is responsible for the management of the program and the full life cycle of the investments, serving as a director in the board of key portfolio companies.
On the technology prospects area, since 2016, he leads the team of analysts that build the company´s internal models for cost and competitiveness of key technologies for decarbonization of electricity (wind, solar, storage) and electrification of demand (electric vehicles, electrification of heat, batteries,…).
After graduating and prior to joining Iberdrola, he developed his career in several roles related to engineering, technology development, innovation and entrepreneurship both in the Telco (Telefonica and Eir) and Energy sectors.
He holds an M.Sc in Engineering from the Universidad Politécnica de Madrid and an executive degree in Venture Capital from the Walter A. Haas School of Business in the University of California at Berkeley.
Céline Chérubin is a senior credit officer in the EMEA Infrastructure Finance Group, based in Paris. She has responsibility for a portfolio of unregulated utilities in France, Belgium, Italy and the Czech Republic as well as water and waste management companies in France.
Céline has considerable experience of assessing utilities and infrastructure in Europe, with an in-depth knowledge of business models, strategies and stakeholders. She has a particular focus on the French market but also benefits from experience of a broad range of other jurisdictions.
Moody’s has a leading global Infrastructure Finance franchise, rating some US$2.8trillion of corporate and project finance securities. Our team of 148 analytical staff covers more than 2,700 public and private sector infrastructure issuers globally. Moody’s EMEA team of 48 infrastructure specialists is responsible for rating around 330 issuers with approximately US$756 billion in debt outstanding. Moody’s Investors Service covers a total of more than 35,000 issuers and structured finance transactions worldwide, representing more than US$73 trillion in rated debt.
Before joining Moody’s in April 2019, Céline worked for Infravia, a French infrastructure investment company, where she was responsible for investor relations and the fundraising of the fourth infrastructure fund. Prior to this, she had an extended career as a sell side equity analyst covering European utilities for more than 12 years. She has also taught classes in accounting, P&L diagnostics and cashflow analysis for the Société Française des Analystes Financiers.
Céline holds a degree in business administration (DESCAFF) from the Bordeaux Business School. She is fluent in English and French.
Diego manages and coordinates Iberdrola´s 200 M€ venture capital program – Iberdrola Ventures - PERSEO, that invests & collaborates with the most promising smart energy start-ups worldwide, and he also leads the Technology Prospective Analysis unit in charge of assessing the potential of key technologies for the future of the energy sector.
He joined Iberdrola back in 2008 and since then he has contributed to the launch and management of the company´s venture program, engaging its activity with the corporate innovation strategy. Leading a team of investment professionals, he is responsible for the management of the program and the full life cycle of the investments, serving as a director in the board of key portfolio companies.
On the technology prospects area, since 2016, he leads the team of analysts that build the company´s internal models for cost and competitiveness of key technologies for decarbonization of electricity (wind, solar, storage) and electrification of demand (electric vehicles, electrification of heat, batteries,…).
After graduating and prior to joining Iberdrola, he developed his career in several roles related to engineering, technology development, innovation and entrepreneurship both in the Telco (Telefonica and Eir) and Energy sectors.
He holds an M.Sc in Engineering from the Universidad Politécnica de Madrid and an executive degree in Venture Capital from the Walter A. Haas School of Business in the University of California at Berkeley.
Sahar leads Oxera’s Energy and Climate Economics teams. She specialises in finance, with a focus on the economic regulation of utilities. She has advised companies and regulators across the UK, Europe, and Australasia on issues in relation to the energy transition.
Sahar has been seconded as a lead Economic Adviser to the UK Competition Commission (now the Competition and Markets Authority, CMA) to advise on regulatory finance issues. Sahar has given expert evidence in the UK and internationally, including in Austria, the Channel Islands and New Zealand, on financial issues in relation to the regulation of energy networks. She has prepared expert evidence on finance and competition issues in many UK High Court proceedings, as well as in international tribunals such as ICSID. She has also taught the postgraduate course in Economics for Competition Law at King’s College London and delivered training on damages valuation to national judges on behalf of the European Commission. Sahar is listed as an Energy Expert in the Who’s Who Legal: Thought Leaders - Global Elite guide to leading lawyers and experts in the field worldwide.
Sahar holds a MA Economics and Management degree from the University of Oxford, a MSC Finance degree from the London School of Economics and Political Science, and is a Chartered Financial Analyst (CFA) Charterholder.
Tim Meyerjürgens has been CEO of TenneT Germany since January 2025. Before that, he served as Chief Operating Officer (COO) of TenneT Holding B.V. from 2019, overseeing the company’s onshore and offshore business as well as international interconnectors. With nearly 30 years of experience in the energy sector, he combines deep technical and operational expertise with a strong focus on building the energy system of the future and integrating renewable energy efficiently. Tim Meyerjürgens played a key role in developing TenneT’s offshore business and advancing the North Sea as a strategic pillar for Europe’s clean energy transition. He is also a strong advocate for European energy cooperation, bringing together leading stakeholders from politics and industry to strengthen cross-border collaboration. Since April 2024, he has served as an independent member of the Supervisory Board of the Lithuanian transmission system operator Litgrid.
Joanna Fic is a Senior Vice President in Moody’s EMEA Infrastructure Finance team, based in London. She is currently responsible for a portfolio of utilities and transport infrastructure companies in the United Kingdom and Africa, in addition to certain transport infrastructure companies in Norway and Turkey. With extensive credit experience across both the utility and infrastructure sectors, Joanna has a deep understanding of both conventional and complex structured financing arrangements.
Over the course of her career at Moody’s, Joanna has written extensively on transport infrastructure credit, covering airports, ports and toll roads. She has contributed to the development of a number of transport infrastructure methodologies and was the author of Moody’s Rating Methodology for Privately Managed Toll Roads, published in October 2017. Joanna has also published widely on European utilities, including in Germany, United Kingdom and Central and Eastern Europe. A highly regarded analyst and respected commentator, Joanna is a frequent speaker at conferences, investor roundtables and other events.
Prior to joining Moody’s in 2007, Joanna was a credit risk manager at Citigroup in Warsaw, where she was responsible for a diversified portfolio of corporates. Joanna holds a master’s degree in Finance and Banking from Warsaw School of Economics.
Philippe Bordarier is President and CEO of Teollisuuden Voima Oyj (TVO), Finland’s leading nuclear power company and the operator of the Olkiluoto nuclear power plant in Finland. He assumed the role in December 2025 and leads a company that plays a critical role in Finland’s energy system and security of electricity supply.
Dr. Bordarier holds a Ph.D. in Physics and brings more than 25 years of international experience in the nuclear energy sector, holding various senior positions in the French Nuclear Regulator, in nuclear operations in France and the United Kingdom, and in nuclear new build projects, in the United Kingdom, Finland, Poland and the Netherlands. Prior to joining TVO, he served as a senior expert at the Dutch energy company NEO-NL.
In addition to his responsibilities at TVO, Philippe serves as Chairman of the Board of Posiva Oy, the Finnish company responsible for the final disposal of spent nuclear fuel and the development of the ONKALO® deep geological repository.