Emmanuel Fages

Emmanuel Fages is a Senior Managing Director in FTI Consulting’s Economic and Financial Consulting segment. Emmanuel has spent more than 30 years in the energy sector across different environments, such as utilities (EDF), financial energy markets (Société Générale CIB) and consulting (Accenture, McKinsey and Roland Berger). He was formerly a Senior Partner at Roland Berger, leading Energy & Environment activities in Paris.

Emmanuel has deep knowledge of the entire energy value chain, from resource exploitation to energy services, equipment manufacturing, energy networks and power generation. His expertise enables him to anticipate formidable changes in the industry, driven mainly by the rapid improvement of decentralized energy economics and decarbonisation technologies (e.g. electric renewables, battery storage, electric mobility, green fuels, biomethane, low carbon heat). He helps his clients identify value pools, adapt their business models and identify new opportunities as historic sources of value and industrial organization paradigms are shifting.

Throughout Emmanuel’s career, he has authored many research papers and spoken in a large number of high-level conferences. He regularly appears in the specialized and generalist press.

Emmanuel graduated from ESSEC M.B.A. and holds a B.A. in Law and a Ph.D. in Energy & Climate Change Economics.

Relevant Experience:

• Evaluated the new nuclear program (EPR2) for the French State, analysing costs, schedules and risks attached, as well as possible mitigation plans for EDF
• Led the commercial transformation of a leading power cable manufacturer
• Completed multiple value chain analyses, entry strategies and business plans for players of the green hydrogen ecosystem (electrolysis, fuel cells, H2 logistics) – ultimately followed by restructuring and consolidation for some players
• Completed multiple value chain analyses, entry strategies and business plans for electric vehicle charging players (utilities, pure players) for both light and heavy-duty vehicles
• Modelled the global gas market and the French energy mix in 2050-2060 to derive implications on energy prices and resource scarcity
• Completed a large number of strategic and commercial due diligences, including on most of the French oil midstream assets (terminals, storage, pipelines) and most of the recent large cap transactions in France’s energy services (sale of Equans by ENGIE), waste and water (acquisition of SUEZ by Meridiam and Blackrock/GIP), district heating (change of shareholders of Coriance, Idex)