Baringa is delighted to have been awarded the Energy Risk Asia Award 2019 for advisory firm of the year. Having worked in the region for many years, Baringa opened offices in Singapore and Sydney in 2018, quickly establishing themselves as a specialist energy consulting firm in the region.
“We are delighted to have had an immediate impact in these markets,” says David Hatcher, global Energy and Resources Sector lead. “We have been drawn to the region by a number of our global clients who have substantial operations here, and partly by new entrants that are setting up.”
The types of business pursued by the two offices are somewhat different. In Singapore, Baringa is focused primarily on the commodities and energy trading sector, covering services ranging from trading IT strategy and implementation, trading operating model design and capability building as well large-scale change programmes and a growing offering in commercial advisory services. In Australia, with its long-established deregulated power markets, our office focuses on energy markets advisory and transactions, policy and regulation with government and regulators, and business change consulting for energy network and retail businesses. The spectrum of services is set to expand in both markets moving into 2020.
Among rapid wins for the Singapore team, Baringa has completed one of the fastest implementations of Allegro’s commodity management software for JERA trading, defined the ETRM roadmap for LNG for a global oil major in Singapore, provided various technology advisory services for a major Malaysian oil company and is helping a major mining company to develop the commercial strategy for one of their core businesses.
“In parallel with delivering a number of highly complex projects, we have established a really strong team with market leading global content expertise that our clients seem to really value,” says Nick Tallantyre, Global Trading Lead.
“We have been really pleased with the trust our clients are placing in us to deliver their most significant programmes and complex challenges – Singapore is a growing hub for the global commodity trading industry and our expertise in this area is in increasing demand from our clients,” say Brynne Parker and Christian Dose, co-leaders of the Singapore office.
The opening of Baringa’s Sydney office was a strategic decision to leverage our international experience in a rapidly expanding market with a significant transition task ahead, and was supported by a number of our European clients establishing a physical presence there in recent years. The Australian leadership team had built up significant knowledge and project experience in Europe in areas such as energy transition, energy policy, energy retail and clean tech, and this allowed a rapid ramping up of Baringa’s operations across Australia. Initially the team introduced Baringa’s fundamental market reports that provide a 30-year view on the evolution of power markets to Australia, and then delivered assignments with key industry and government institutions.
Amongst others, our local team supported the Australian Energy Market Operator with a cost-benefit analysis of future market frameworks to enable the transition to distributed system operation for the power market, and the Australian Renewable Energy Agency looking at the technical, commercial and regulatory challenges associated with the creation of renewable energy zones in Australia’s proposed National Electricity Market.
“Baringa’s Australian electricity reference case market reports have found a ready audience, and we were able to quickly create a solid portfolio of clients across Australia,” says Peter Sherry, Partner and leader of Baringa’s Australian operations. “We have hit the ground running, we are optimistic about our future and we are looking at adding substantive additional resources to the already thriving local team.”