Dr. Hernández joined NERA in 1997 after obtaining his DPhil in economics from Oxford University. As a member of NERA's Global Energy, Environment, and Network Industries Practice, he has since provided advice on regulatory issues to companies, regulatory bodies, and international institutions in Europe and Asia.
His experience spans market design, assessment of cost of service tariff regulatory models and price-cap mechanisms, cost of capital estimation, financial modelling, company valuation, demand forecasting, assessment of regulatory risks, due diligence support, evaluation of supply and infrastructure alternatives, and the design of network access tariffs for LNG terminals, as well as for the use of transportation, storage, and distribution assets.
He has testified as an expert witness in international regulatory and contract disputes, mainly in the energy and financial sectors. He has also provided expert testimony on valuation, regulatory, and commercial issues before both national courts and international arbitration tribunals, including CCI and ad-hoc arbitration.
In 2011, he was appointed to Spain's Ministry of Industry, Tourism and Trade as Secretary of State for Energy, a role in which Dr. Hernández was broadly responsible for Spain’s energy policy. During this period, he also chaired the Institute for Energy Diversification and Saving (IDAE) and the Institute for the Restructuring of Coal Mining and Alternative Development of Mining Regions (IRMC). In addition, he also chaired the Interministerial Board responsible for the securitization on the electricity sector deficit (FADE), which during 2011 issued securities with a value of over 9 billion Euro.
Dr. Hernández rejoined NERA in 2012.