Former Energy Minister and Chairman of the Board State Oil Company in Chile, Former Alternative Executive Director The World Bank Group, and VP IAEE and Professor - Pontificia Universidad Católica de Chile
Affiliation and years of experience in energy and/or environment:
Ricardo Raineri is an economist and energy specialist with solid managerial and academic experience, and a strong background and practice in markets, institutional and financial issues. Has a wide-ranging advisory experience involving the energy and electric industries, addressing issues on the areas of business strategy, industrial organization, competition, antitrust and regulation, market structure and incentives, project valuation, corporate governance, and regional energy integration. Had held several academic positions and carried out extensive research work dealing with challenging energy and power generation issues in the areas of business and projects assessments, governance and public policy.
Outstanding work experiences as: Energy Minister of Chile, responsible for the electric sector, alternative energy sources, and oil and gas sectors, which comprise public and private interests, and the relation with other ministries, the congress and the international relations on energy issues; Chairperson of the Board at the State Oil Company (ENAP), with operations in Chile, Argentina, Ecuador and Egypt, engaged in exploration, production, refining and logistic in oil and gas, and liquefied natural gas imports and distribution; Alternate Executive Director at the Board of the World Bank Group, representing Argentina, Bolivia, Chile, Paraguay, Peru, and Uruguay; Board member of the Chilean Council of State Companies, holding of 22 state companies in a wide range of sectors, for instance energy, ports, metro, railways, water utilities, mint, national lottery and other sectors of the economy; and Board member of private companies in the energy sector and private trust funds.
Earned a Master and Ph.D. in economics from the University of Minnesota, and a Bachelor in Economics, Business Engineering and Master in Economics degrees from Pontificia Universidad Católica de Chile. Professor at Pontificia Universidad Católica de Chile, Board member of Trust Funds, and Vice President of the International Association for Energy Economics (IAEE).
Any particular achievement/interest in energy/environment you would like to mention?
There are many achievements in my academic and professional career, but the ones that have been most significant for me are the opportunity I have had to lead initiatives which allowed low income people, in isolated areas, to have access to energy and electricity. For example, by the installation of a small hydropower plant.
Other achievement that was important for energy security, after Argentina reduced natural gas exports to Chile in the last decade, was to have the chance to lead from the State Oil Company - ENAP -, a system to secure the supply of natural gas to the south of Chile.
In your opinion, what are important economic/policy issues facing the energy industry nowadays?
Energy security is an issue that in the years to come will be of increasing concern and complexity. Is a theme that needs the integration of many disciplines and skills, from geopolitical issues to overcome technological challenges. In a world where in a couple of decades we expect the population to reach 9 billion, and where living standards are rising, added with the threat of climate change, we will see an increasing pressure on the access to energy resources. This will demand huge investments, a favorable business environment and the reshaping of the multilateral institutional framework. It is within these challenges that cooperation within different countries and region is key for a secure and sustainable energy future. There is a lot to do, and in particular securing energy access, unlocking the rich energy resources of the whole of the Americas, and energy integration within the continent is a vast pending dilemma.
How long have you been a member of NCAC? Any particular NCAC memory you would like to share with us?
I joined NCAC in 2013 while I moved to the D.C. area. I have had a wonderful experience and quite surprise how active is NCAC. I really enjoyed its activities, luncheons, annual dinner, and other events such as field trips that help to create great relations within NCAC members.
One of my first NCAC activities was when I went on the overnight field trip to Western Pennsylvania/Maryland to visit a coal plant, a wind farm, and a coal mine.
If there is a place in D.C. to exchange ideas about energy issues this is NCAC.