Natalie Shen

Associate Director


B.S. Purdue University
M.S. Johns Hopkins University
M.A. United Sates Naval War College

Natalie Shen is an energy industry expert.  Her areas of expertise include cost-of-service ratemaking, energy market structures, and policy formation.

Ms. Shen was previously an expert witness with the Federal Energy Regulatory Commission (FERC) Office of Administrative Litigation, where she provided FERC Trial Staff settlement positions and expert testimonies in a variety of electric utility stated rate cases, formula rate cases, reactive compensation cases, natural gas NGA section 4 rate cases, and NGA section 5 investigations.  Ms. Shen has also provided in-depth analysis to FERC Trial Staff on matters such as reactive compensation in the PJM Reliability Pricing Model capacity market under Schedule 2 of the PJM Open-Access Transmission Tariff.

Previous to her role as an expert witness, Ms. Shen was employed in the FERC Office of Energy Markets Regulation, Division of Pipeline Regulation.  Most recently, Ms. Shen served as a senior-level Policy Advisor/Commissioner’s Assistant to a FERC Commissioner, where she worked on energy and capacity markets, Public Utility Regulatory Policies Act (PURPA) reform, return on equity (ROE), accumulated deferred income taxes (ADIT), transmission incentives, and bulk power system reliability and resilience matters.  Ms. Shen further served in a detail position to the Senate Energy and Natural Resources Committee, where she worked on the bipartisan omnibus Energy Act of 2020, which became law as Division Z of the Consolidated Appropriations Act of 2021.

Ms. Shen also has academic and professional experience examining the energy industry within the broader national security and national resource strategy context, and she advised the Senate Energy and Natural Resources Committee on matters pertaining to FERC and DOE jurisdictional bulk power system infrastructure cyber-and physical security and supply chain risk management measures.