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About the Firm

Specialist UK energy regulatory advisors.

Waters Wye Associates advises generators, suppliers, traders, investors and networks on UK power, gas and hydrogen markets. We are also directly involved in industry groups and government panels where market rules and policy are developed.

On this page: who we are, our industry standing, the people leading the work, and the organisations we work with.

Office overlooking the River Thames and London skyline
Impact Assessments
500+
Impact Assessments
Years of experience
20+
Years Experience
Policy boards
15
Policy Boards
Asset value advised
£2B+
Asset Value Advised
Who we are

Advice that connects regulation and commercial decisions.

Waters Wye Associates (WWA) was founded to connect complex regulatory requirements with commercial decision-making.

For over two decades, we have advised on major energy market transitions, helping clients understand both the rules and their commercial position. Our aim is to provide the clarity and trusted judgement leaders need to make decisions in the UK energy sector.

Institutional knowledge

We have spent decades understanding how the energy sector's regulatory and market arrangements fit together, including why they work as they do.

Independent advice

Our advice is independent and focused on the regulatory and commercial questions in front of the client.

Industry standing

Working within industry groups and market governance.

WWA chairs, supports and contributes to the groups, panels and forums where regulatory, commercial and policy positions are developed.

Chair, secretariat and management roles

  • Chair and Secretariat Services for ICOSS
  • Chair and Secretariat Services for UESO
  • Chair of the Hydrogen Delivery Council Hydrogen Transport & Storage Group
  • Management of the Flexible Generation Group

Industry coordination

WWA has convened and chaired informal industry groups to coordinate sector positions on issues including charging, gas quality and capacity arrangements.

Panel and advisory roles

  • Balancing and Settlement Code Panel
  • Connection and Use of System Code Panel
  • Capacity Market Advisory Group
  • Flexibility Stakeholder Advisory Board
  • DESNZ Panel of Technical Experts
Leadership team

The people leading the work.

Our directors combine technical market understanding with experience in due diligence, strategy and stakeholder work across UK and European power and gas markets.

Lisa Waters, Founding Director at Waters Wye Associates

Founding Director

Lisa Waters

Focus: Wholesale power, Capacity Market and industry representation

An economist with over twenty-five years of energy-sector experience, Lisa leads WWA's work on wholesale power for generators across fuel and connection types.

Lisa Waters is a founding Director of Waters Wye Associates (WWA). She is an economist with over twenty-five years of energy-sector experience, working for a wide variety of companies and customers. Lisa is an elected industry representative on the Balancing and Settlement Code (BSC) Panel and the BSC Credit Committee. She is also a member of the Advisory Board of Carbon Connect and of BEIS's Panel of Technical Experts, advising government on National Grid's modelling for the GB Capacity Market.

She is an expert in Capacity Market operation and wholesale power trading, with significant lobbying experience, including giving evidence to Select Committees in the Commons and Lords and representing EU gas customers at the Commission's Regulatory Forum meetings.

Before founding WWA, Lisa worked for energy organisations including Dynegy, V-is-on Gas, the Energy Intensive Users Group and the CBI. She holds a degree in economics and a master's in environmental and resource economics.

Nick Wye, Founding Director at Waters Wye Associates

Founding Director

Nick Wye

Focus: Gas markets, storage and asset transactions

An economist with over fifteen years of energy-sector experience, Nick leads WWA's gas market work and has considerable expertise in gas storage.

Nick is an economist with over fifteen years of energy-sector experience. Earlier in his career, he worked for TotalFinaElf Gas and Power, a gas producer, a trader, a supplier and an independent pipeline owner/operator. This gave him practical experience across the full supply chain, including offshore projects, gas shipping and end-user supply.

He has also been involved in asset deals in the power and gas markets across the UK and continental Europe. His work on the boards of several European trade associations and committees has given him knowledge of most European markets.

Nick leads on gas market projects and has considerable expertise in gas storage.

Gareth Evans, Director at Waters Wye Associates

Director

Gareth Evans

Focus: Retail energy and financial markets, trading and compliance

An astrophysicist with over ten years' experience in the energy and financial sectors, Gareth brings experience from Elexon, a major European gas and power supplier and UBS.

Gareth is an astrophysicist with over ten years' experience in the energy and financial sectors. He began his career at Elexon and later worked for a major European gas and power supplier and UBS, where he helped inaugurate European power and gas trading while managing associated regulatory and compliance requirements.

He has direct knowledge of the entire supply chain for UK and European power and gas markets, including practical experience of dealing with regulators, suppliers, shippers, generators and producers, and European bodies.

Client experience

Experience across the energy market.

WWA has worked with organisations across energy infrastructure, trading, supply, storage, flexibility, investment, advisory and market governance.

Energy infrastructure, generation, storage & flexibility

  • AESC UK
  • Aggreko
  • AGR Solar
  • Alcemi
  • Amp Clean Energy
  • Amp Energy Renaissance
  • Ampeak Power
  • Ampatura
  • Apex Power
  • Arlington
  • Armstrong
  • Attune Energy
  • Brockwell
  • Brook Green
  • BW ESS
  • Bygen
  • Cannock
  • Carlton Power
  • Cobalt Energy
  • Conrad
  • Constantine Energy Storage
  • Coriolis Energy
  • dCarbonX
  • Doughnut Energy
  • Downing
  • Econergy
  • Eelpower
  • Eider
  • Eku Energy
  • Encora Energy Limited
  • Enray Power
  • European Power
  • Evolution Power
  • Field
  • Flexitricity
  • Forsa
  • Fred Olsen
  • Fulcrum
  • Get Volter
  • Grain 22
  • Green Frog
  • Grid Code Power
  • GridBeyond
  • Gridserve
  • Habitat
  • Harmony JF
  • Hygen
  • Indaver
  • Infinis
  • Innovo Renewables
  • Intergen
  • JG Pears
  • Kiwi Power
  • Lakeside Energy
  • London Energy
  • Lower 48 Energy
  • Mast Energy
  • Mercia Power Responsive
  • MWat
  • Nissan UK
  • Noriker
  • PeakGen
  • Pelagic Energy
  • Penso Power
  • PEP Renewables
  • Private Energy Partners
  • Pulse Clean Energy
  • PyeBridge
  • Revera Energy
  • S4 Energy
  • Sembcorp
  • Severn Power
  • SNRG SmartGrids
  • South Tees
  • SSE Generation
  • Stratera
  • Sustainable Energies Scotland Ltd
  • TagEnergy
  • Third Energy
  • Thrieve Renewables
  • Umbra Energy
  • United Green
  • Varco
  • Viridor
  • Voltaria
  • Voltwise
  • VPI
  • Welsh Power
  • Whitetower
  • Zenobe

Gas, LNG, trading, supply & market participants

  • Alpiq
  • Cadent Gas
  • Cargill
  • Centrica
  • Chevron
  • Corona
  • Dragon LNG
  • Duferco Energia SpA
  • EDFT
  • Electroute
  • Engie
  • ENI
  • EPH
  • ExxonMobil
  • Hartree
  • Ineos
  • Limejump
  • Mitsui Bussan Commodities Ltd
  • Octopus
  • Orsted gas
  • Orsted power
  • PetroChina
  • Petronas
  • QatarEnergy Trading LLC
  • RWE
  • SEFE
  • Shell
  • Shell Power
  • SouthHook
  • Storengy
  • Total Energies
  • Triton

Investors, funds, asset owners & financial institutions

  • ACI Group
  • Adoptogen Capital
  • Amber Infrastructure
  • Ancala Midstream
  • Balyasny Asset Management
  • Clinton Devon
  • Condutor Capital
  • Copenhagen Infrastructure Fund
  • ECP Group
  • Foresight
  • Gresham House
  • J P Morgan
  • Macquarie
  • Nippon Koei Energy Europe B.V.
  • Penset Mason
  • Quinbrook
  • Red Rock
  • Rgreen
  • Rockland Capital
  • Temporis Capital
  • Triple Point

Networks, associations, public sector, advisory & specialist organisations

  • Cory Environmental
  • ENSEK
  • FGG
  • ICoSS
  • Langgage
  • Mott MacDonald

Need a clearer view of a regulatory or market issue?

We can help you understand the issue and decide what to do next.