Stephen D. Makowka

Executive Vice President


Steve Makowka is an Executive Vice President with Compass Lexecon based in Boston. Mr. Makowka specializes in market and competitive analysis, public policy and economic modeling. In key energy industries such as electricity, natural gas and oil, he has analyzed market structures, asset valuation, regulatory policies, and the economic factors affecting firm behavior and competitive outcomes. Representative projects include analysis of market price manipulation allegations in electric and natural gas trading markets, estimating the efficiency and competitive effects of potential mergers in the electric industry, assessing the changing dynamics of oil and gas valuation in US and international markets, and determining fair market value for numerous electric generation and oil production assets in the context of contract breach and governmental takings proceedings.

Mr. Makowka applies his expertise to diverse areas of economics and policy analysis, including antitrust, natural resource utilization and service and product innovation. He has studied the impact of regulatory and policy decisions on the private sector, focusing on how businesses perceive their competitive environment and how they react when that environment is affected by policy changes.

Prior to joining the firm, Mr. Makowka worked as a financial analyst for the General Electric Company, where he provided analytical support for a range of strategic and operational projects, including market evaluations, facility development studies and productivity program implementation. He also worked with the Alternative Energy Group at New England Power Service, gaining experience in the area of contracting for electric generation from independent power producers utilizing both fossil and renewable fuels.

Mr. Makowka has a Master in Public Policy from the John F. Kennedy School of Government at Harvard University and a B.A. in Economics and History from Williams College. At Harvard's Kennedy School of Government, Mr. Makowka was a central participant in an independent review of state-level privatization initiatives in Massachusetts.

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    • MPP, John F. Kennedy School of Government, Harvard University
    • BA in Economics and History, Williams College

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