Independent Energy Advisory
Built for the hard deals
P&L Energy is an independent energy advisory firm structuring power projects, negotiating complex contracts, and opening new markets for utilities, industrial clients, and energy companies across the Americas and beyond.
What We Do
P&L Energy
Your P&L drives your decision-making. It separates good deals from bad deals. It's where we have your back. Our sole focus is your success. And your P&L.
We work small and independently by design. Every client gets senior-level judgment from start to finish — no layers, no handoffs, no junior team doing the work behind the curtain.
What We Do
We solve energy's most challenging problems. Our work falls into three connected practice areas.
Power Project Development
End-to-end origination and development of power projects across North America and Brazil — from early-stage concept through commercial operations. Site control, interconnection, permitting, feedstock and fuel supply, offtake, and execution.
Contract & Transaction Strategy
Structuring and negotiating the transactions that make energy businesses work: power purchase agreements, utility contracts, long-term gas supply and pipeline agreements, ISDA support and commodity hedging strategies. We're the firm clients call when the deal is large, cross-border, or technically complex.
International Market Entry
Deep, on-the-ground experience in emerging markets — particularly Brazil and broader Latin America. We help clients navigate regulatory frameworks (ANEEL, BNDES, INMETRO, state gas distribution concessionaires), build government and financing-authority relationships, and stand up the in-country entities, licenses, and infrastructure that make a deal physically possible in the first place.
Selective by design. Senior from start to finish.
Most advisory firms scale by adding headcount. We scale by being selective. Every engagement gets direct principal involvement from start to finish, which is why our clients trust us with their most consequential transactions.
We work best when:
- ✓ The transaction is large, complex, or crosses borders
- ✓ The regulatory or commercial environment is unfamiliar or unsettled
- ✓ Speed to commercial operation is the central challenge
- ✓ The counterparty is sophisticated and the stakes are high
- ✓ Internal teams need an experienced hand alongside them, not above them
We don't chase volume. We take on the work where our experience actually changes the outcome.
The network
behind the firm.
Over the course of our careers we've built working relationships with some of the most recognizable names in global government relations, banking, and law — the advisors who sit at the center of how complex energy transactions actually get done.
We bring that network to every engagement. On short notice, we can stand up the right combination of regulatory counsel, lobbying support, structured finance, local counsel, and tax advisory — scaled to the specific contingencies of the deal in front of us.
Clients don't have to carry a full bench of specialists on retainer. We assemble the team the transaction requires, when it requires it, and step it back down when the work is done.
The People Behind P&L Energy
Senior-level judgment on every engagement — no layers, no handoffs.
Philip B. Herold
Founder & Managing Partner
Philip has spent more than twenty-five years structuring, negotiating, and closing complex power and energy transactions across the United States, Latin America, and international markets. He has held senior positions with companies in power generation, manufacturing, pulp and paper, and natural gas — bringing a rare combination of developer, industrial buyer, and fuel-supply perspectives to every engagement.
His deal experience spans biomass power projects bridging feedstock, offtake, and interconnection; long-term natural gas pipeline and supply agreements underpinning utility-scale and industrial generation; and peaking and fast-track natural gas deployments where speed to commercial operation is the central challenge. He has closed eight- and nine-figure power contracts with utilities, sovereign counterparties, and large industrials, and has negotiated alongside regulators and financing authorities including ANEEL, BNDES, INMETRO, and state-level gas distribution concessionaires — often standing up the in-country infrastructure, licenses, and entity structures that make a deal physically possible in the first place.
Fluent in Portuguese, Philip led the formation of a Brazilian subsidiary that closed a 228 MW contract valued at more than $350 million.
John Herold
Associate
Market analyst and deal support for P&L Energy's advisory engagements. John contributes research, financial analysis, and transaction diligence across the firm's power development and contract structuring work in North America and Latin America. He leverages new technologies — including AI-assisted research workflows, machine-learning-based forecasting, and modern data platforms — to build pricing models, risk analytics, and demand and price forecasts that sharpen the firm's commercial recommendations and give clients a clearer view of the variables driving each transaction.
Our Clients
P&L Energy works with sophisticated organizations across the energy value chain — wherever the transaction is consequential and experience matters.
Utilities
Navigating PPAs, resource planning, and supply contracts
Industrial Energy Buyers
Structuring long-term power, gas, and hedging arrangements
Developers & IPPs
Originating and executing power projects including biomass, gas peaking, and fast-track generation
International Entrants
Establishing operations in Brazil and other Latin American markets
Investors & Financial Counterparties
Evaluating complex energy transactions
Ready to talk about your deal?
If you're working on something large, cross-border, or complicated — that's where we do our best work. Let's have a conversation.
Get in Touch