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Michael Altorfer

Economist

michael.altorfer@swiss-economics.ch

+41 76 750 06 23 (mobile)

+41 44 597 97 43 (office)

LinkedIn

Biography

Michael Altorfer is an Economist with Swiss Economics. He holds a master's degree in Economics from the University of St. Gallen and a master's degree in International Management from the CEMS Global Alliance. Before joining Swiss Economics, he worked for Munich Re in the Economics, Sustainability and Public Affairs department.

Work experience

  • Economist, Swiss Economics (2025 - )
  • Analyst, Swiss Economics (2022 - 2024)
  • Internship, Munich Re (2024)
  • Research Assistant, University of St. Gallen (2023 - 2024)
  • Internship, EY Switzerland AG (2021 - 2022)
  • Internship, UBS AG (2020 - 2021)

Education

  • MA in Economics, University of St. Gallen (2022 - 2024)
  • CEMS Master in International Management (2023 - 2024)
  • BA in Economics, University of St. Gallen (2018 - 2021)

Expertise

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Projects (selection)

  • Regulatory Impact Assessment: Revision of the SPTO (2026). What is the economic impact of the proposed SPTO revision? Client: Fongit.  
  • WACC 2027 for Swiss electricity grids and renewable energies (2026). What is the appropriate cost of capital for Swiss electricity grids and renewables for 2027? Client: Bundesamt für Energie (BFE).  
  • Future Grid Financing (2025 – ). How should the costs of the electricity grid be financed in the future?  
  • Capital Costs of Renewable Energy (2025 – ). How high are the capital costs of renewable energy?  
  • Calculation of the cost of capital in the energy sector for a european fund manager (2025). How are the capital costs in the energy sector calculated?  
  • Analysis of margins in the context of legal proceedings (2025). Swiss Economics prepared an economic expert report for legal proceedings analysing the impact of risks on expected margins, covering market conditions, required return assessments, and econometric margin analysis. Client: Confidential Client.  

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  • Quantification of Reputational Damages in Legal Proceedings (2025). Swiss Economics prepared an expert economic report for a legal proceeding quantifying reputational damages, covering lost business opportunities via a comparables-based approach and reputation restoration costs based on article publication cost analysis. Client: Confidential Client.  
  • Financing advantages of state-owned enterprises (2025 – 2026). Do state-owned enterprises benefit from financing advantages? Client: Staatssekretariat für Wirtschaft (SECO).  
  • Review and Optimisation of Fund Management (2025). How can processes of fund management be optimised?  
  • WACC 2026 for Swiss electricity grids and renewable energies (2024 – 2025). What is the appropriate cost of capital for Swiss electricity grids and renewables for 2026? Client: Bundesamt für Energie (BFE).  
  • Independent Valuation of Disputed Assets (2024 – 2025). Swiss Economics reviewed an existing valuation and conducted an independent DCF and market multiples valuation of disputed assets in a shareholder dispute. Client: Confidential Investor.  
  • Potential in the balancing energy market (2024 – ). How attractive are the ancillary services (AS) markets in Switzerland and neighboring countries?  
  • Developments in the electricity market (2024 – ). How has the Swiss electricity market developed in recent years? Client: Swiss Federal Office of Energy (SFOE).  
  • WACC for Swiss electricity grids and renewable energies (2023 – 2024). How high should the financing cost rate for electricity grids and renewables be in future? Client: Bundesamt für Energie (BFE).  
  • Sensitivity Analyses in the Valuation of Nuclear Power Plants (2023). How would longer operating lifetimes affect the valuation of nuclear power plants?  
  • Measures against high energy prices for a canton (2023). Should a canton react in the event of persistently high energy prices? If so, how and when?  

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