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Carolina Salvaterra
London
Senior Manager

Carolina Salvaterra

I'm a senior manager in our economic consulting team, with over seven years experience delivering energy and climate change analysis. My career has focused on helping the public and private sectors navigate energy market reforms, regulatory frameworks, and the transition to a low-carbon economy.

I'm the contract and relationship manager for our delivery partner contract with Ofgem for the RIIO-3 price control for the gas transmission and distribution sector, and the electricity transmission sector. This includes managing strategic interactions with Ofgem and coordinating resources to embed into their teams to enable efficient delivery of outputs as part of RIIO-3. I've also supported this regulator on the assessment of Ongoing Efficiency for RIIO-3, and on strategic work related to affordability and investability tipping points for the gas distribution network.

My experience also includes secondments with Ofwat, where I helped develop regulatory mechanisms for new appointments and variations and risk-sharing frameworks for PR24.

Beyond regulation, my expertise extends to broader energy market policy. For instance, I've recently advised the Department for Energy Security and Net Zero on the Review of Electricity Market Arrangements (REMA), assessing the impact of contract for difference reforms on supplier hedging behaviour and the supplier obligation levy.

Before joining Grant Thornton, I worked at a different professional services firm –  specialising in wholesale electricity market reforms/ REMA, network investment strategies, and regulatory frameworks for a number of public and private sector clients.

I also spent four years as a civil servant in the Department for Business, Energy and Industrial Strategy, where I worked across both domestic and international energy and climate policies.

I provided analytical support for the development of the UK’s first Critical Minerals Strategy, working with stakeholders across the Government to identify knowledge gaps and establish the Critical Minerals Intelligence Centre. I also conducted market monitoring and analysis on key clean energy technologies, including hydrogen, electric vehicles, and renewable energy integration, and supported the UK’s contributions to Just Energy Transition Partnerships and the G20 energy agenda. In 2022, my work extended to assessing European gas supply and storage levels during the war in Ukraine, providing critical evidence for the Government’s energy security strategy.

In addition, I supported international climate finance programmes, conducting economic appraisals and cost-benefit analysis to ensure the effective delivery of the UK’s climate development assistance. I led analysis to monitor the UK’s progress against carbon budgets and the Clean Growth Strategy, including cross-government policy gap analysis and analytical support to the cross-government response to the Committee on Climate Change’s annual report.

Outside of work, I love staying active through running, hiking, and hitting the gym. I’m also a keen reader and baker, and I’ve recently taken up knitting as my newest challenge.

Qualifications
  • BSc Economics (Nova School of Business & Economics)
  • MSc Economics (University of Warwick)
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Carolina Salvaterra
Senior Manager
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