Marvel Power Group

Electricity &
Natural Gas

Marvel drives business strategy and commercial growth for infrastructure developers, supply chain participants and end-users across wholesale power and gas markets. Our advisory is rooted in field experience and trusted by the market's largest, most sophisticated players.

Mission

mission

Marvel converts grid complexity, regulatory dynamics, and commodity market structures into practical commercial strategies.

We support market participants with navigating transaction terms and regulations for purposes of executing best-in-class, highest-ROI power and natural gas infrastructure projects. We specialize in translating market signals, policy directives, and counterparty dynamics into deal strategy that captures substantial, often-missed value.

As the industry’s only independent advisor with in-house experience across utilities (PG&E), hyperscalers (Google), grid-tech (AMS, EnerNOC), and global energy leaders (Shell, BP, Pattern), Marvel pairs regulatory depth with commercial sophistication across electricity and natural gas markets. This enables us to uncover hidden value, anticipate friction points, and design solutions that work across diverse market environments.

25 GW
in enabled transactions
$20B
in supported deal value
10+
North American utility clients
60 Yrs
of collective industry experience
100%
independent and unbiased advice

Services

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Commercial Advisory

Commercial guidance on power and natural gas arrangements. Services include 1) supply architecture, 2) counterparty selection through contract negotiation, 3) alignment between commodity contracts and project development milestones, and 4) decarbonization and structured products. Our work is grounded in deal mechanics, not just market commentary.

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Regulatory Intelligence

Ongoing, forward-looking monitoring of regulatory proceedings and market developments, with direct translation into commercial strategy, deal implications, capital impact, and competitive positioning. Engagements structured as continuous support or “sprints”.

Bespoke Mandates

For Investors

  • M&A Due Diligence
  • Portfolio Company Advisor

For Utilities

  • Large-Load Inclusion Strategy
  • ROI/ROE Case Formation

For Power Producers

  • Stakeholder Relations and Offtake Strategy
  • Market Penetration and Positioning

For Large Users

  • On and Off-site Power and Gas Arrangements
  • Supply Plan Diligence and Negotiation Support

For custom requests, please contact us at [email protected]

Management

Meet Katherine
Katherine Ryzhaya
Katherine Ryzhaya
Partner

Katherine Ryzhaya is a seasoned energy executive and serial entrepreneur with more than two decades of experience building infrastructure businesses and closing high-value, multi-party energy deals. Her career spans finance, utilities, grid-edge technology and commodity trading, giving her deep insight into commercial, regulatory, and operational levers that drive project success.

Career History
  • CEO, Renovar, Shell Digital Ventures
  • CCO, Lightsource bp
  • Co-Founder and CCO, AMS (acquired by Fluence, NASDAQ: FLNC)
  • VP and Director, Evolution Markets
  • Principal, Pacific Gas and Electric Company
Education
  • BS, Finance, University of San Francisco
  • MBA, Finance, Duke University
Meet Sam
Sam Peelle
Sam Peelle
Partner

Sam Peelle is an accomplished energy markets practitioner with more than fifteen years of experience structuring large-scale power and gas transactions. His career spans power markets, renewable fuels, analytics and distributed energy solutions, providing him a thorough understanding of the commercial and policy differentiators that enable high value energy and infrastructure deals.

Career History
  • Director, AMS (acquired by Fluence, NASDAQ: FLNC)
  • Manager, EnerNOC (acquired by Enel, BIT: ENEL)
  • Regional Manager, United Technologies Corporation
Education
  • BA, Political Science, University of Pennsylvania
  • MBA, Finance, Babson College
Meet Jonathan
Jonathan Forrester
Jonathan Forrester
Partner

Jonathan Forrester has over 20 years of leadership experience in the energy industry managing complex development platforms and driving large transactions. A seasoned professional with deep segment expertise, Jon has spent the last several years helping clients take advantage of explosive data center and industrial growth through architecting commercial strategy, utility engagement and project execution plans.

Career History
  • CEO, Four Post Renewables
  • VP, Pattern Energy
  • Business Development Lead, Google
  • VP, Brightsource Energy
  • Principal, Pacific Gas and Electric Company
Education
  • BA, University of California San Diego
  • MBA and MS, University of Michigan

Expertise

Marvel is the only regulatory advisor that brings firsthand commercial experience from every seat at the decision table: utility negotiator, hyperscale load, independent power producer, technology expert and regulatory strategist.

We understand the incentives, constraints, and approval pressures each party faces because we’ve operated inside these organizations, built their business cases, negotiated their agreements, and navigated their regulatory processes. This multidimensional perspective allows us to translate policy, tariff design, and interconnection realities into practical guidance that reflects how decisions are actually made.

Our work is grounded in commercial realism, not theory, and is designed to help clients anticipate issues, structure viable pathways, and engage with stakeholders in a way that aligns with real-world dynamics.

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