The partnership
Reckon LLP is an economics consultancy, established in 2004. We have three partners and no external investors.
Our size and structure provides us with a large degree of control over what we do and how we do it. We aim to do work that is interesting and meaningful.
For 15 years and until recently, we worked from offices in central London. We are currently working remotely.
In the last few years we have served clients from across the UK.
For more information on our services and clients, click here.
Nicholas Francis
Nicholas Francis is one of Reckon’s founding partners. He has a great deal of experience in regulatory economics and brings real insight to our clients. He has worked as an economics consultant for over 20 years and his main focus is water and energy regulation in the UK. He holds an MSc (distinction) and BSc (first class) in Economics from the University of Bristol.
Nic has excellent capabilities in regulatory strategy and regulatory policy development. He has advised clients on pretty much all aspects of the design and implementation of price control regulation, as well as on charging methodologies and UK/EU competition law on abuse of dominance.
Nic has been leading consultancy projects since 2007, and has a strong record of achieving successful outcomes for clients.
Pedro Fernandes
Pedro is one of Reckon’s founding partners. He has worked as a consultant since 2000.
Much of Pedro’s work has been concerned with the water and energy sector in the UK. Within that, he has advised public bodies as well as companies on a range of price control issues, particularly on benchmarking and other forms of cost assessment. He has expertise in econometric and statistical analysis, and a rich knowledge of the regulatory data architecture and of the wider regulatory context, allowing him to deliver in an effective way solutions that are practical and underpinned by theoretical rigour.
Pedro has a degree and masters in economics from the LSE and a PhD from the European University Institute, Florence.
Shankar Rajagopalan
Shankar is a partner at Reckon. He has expertise in the economic regulation of electricity, gas and water networks. He specialises in delivering practical solutions to complex regulatory problems.
Shankar has advised regulators and companies on price control reviews, regulatory appeals, regulatory and incentive frameworks, charging and other commercial arrangements, industry reform and development of competition, and identifying value opportunities in innovative commercial models. His broader experience includes economic impact assessments, data modelling, cost allocation and tariff calculations.
Shankar has a MSc in Economics from the London School of Economics and a degree in Mechanical Engineering from the University of Kerala, India.
Ethan Moynihan
Ethan is a junior consultant at Reckon. He joined in 2021.
Ethan’s work with Reckon has focused on the economic regulation of water companies and energy network companies. This has included research on regulatory decision-making (e.g. in relation to price control uncertainty mechanisms and cost assessment) and input to econometric benchmarking of water companies’ costs.
Prior to joining Reckon, Ethan studied for five years at the University of Amsterdam, where he gained an MSc in Business Economics (specialising in Competition law and Economics) and a BSc in Economics and Business Economics. During his Masters he completed a large regulation-based research project, which involved modelling the impacts of historical regulatory interventions on traditional asset classes and applying these values to predictive econometric models for Bitcoin.