Principals | Team Categories | Gabel Associates

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Steven Gabel Founder

Steven Gabel, Founder of Gabel Associates, has more than forty-five years of experience in assisting clients with strategic energy issues, regulatory and utility matters, financial and economic analysis, and technology evaluations. He has provided consulting support for a wide array of energy projects and significant policy and regulatory development. Through his leadership roles, Mr. Gabel has deep experience in renewable and energy efficiency project development, electric vehicles, energy forecasting and modeling, detailed economic analysis, energy procurement activities, and policy analysis.

Mr. Gabel is an economist with a background in pricing, industrial organization, public policy, and the history of economic thought. He founded Gabel Associates in 1993 with the goal of providing a wide range of economic, technical, regulatory, and marketplace advice and analysis in the energy and environmental industries. After 32 years as President, he currently supports the firm’s clients in a senior advisory role and is engaged on special projects.

Prior to founding Gabel Associates, Mr. Gabel was the Director of the Electric Division at the New Jersey Board of Public Utilities and the Director of the Division of Solid Waste Management at the New Jersey Department of Environmental Protection.

Michael Borgatti Co-Chief Executive Officer

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Michael Borgatti Co-Chief Executive Officer

Michael Borgatti, Co-CEO and leader of the Wholesale Power and Market Services Division, has over 17 years of experience in energy markets and policy and serves as the firm’s principal representative on regional transmission organization (RTO) operations, procedures, and markets. An expert in the technical and structural complexities of RTOs, he has helped shape rules related to energy, capacity, and other market issues while translating these complexities into actionable strategies for clients. His work spans project development, risk analysis, and financial strategy—including generation interconnection, merchant transmission, credit issues, energy and capacity market analysis, and long-term forecasting. Drawing on his regulatory and ratemaking expertise, as well as his background as a legal specialist, Mr. Borgatti enables clients to effectively advance and protect their business interests across wholesale and retail energy markets.

Mr. Borgatti’s expertise extends across PJM, CAISO, NYISO, SPP, ISO-NE, MISO, and ERCOT, where he is active in committees addressing energy, capacity, renewables, ancillary services, and transmission interconnection. He previously served as PJM Generation Owner Sector Whip, Chair of PJM’s Members Committee, and Vice-Chair of PJM’s Liaison Committee. Mr. Borgatti frequently engages with FERC and state utility commissions and advocates before various agencies to enhance clients’ positions. Earlier in his career, he was a federal energy litigation and policy legal specialist at the New Jersey Board of Public Utilities, advising senior leadership and the Governor’s Office on federal energy matters, developing litigation strategies before federal courts and FERC, and managing a multi-disciplinary team providing policy and litigation support.

Isaac Gabel-Frank Co-Chief Executive Officer

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Isaac Gabel-Frank Co-Chief Executive Officer

Isaac Gabel-Frank, Co-CEO and leader of the Regulatory, Analytics, and Modeling Division, has over 16 years of experience addressing complex energy issues involving renewables, energy efficiency, cost-benefit analysis, project development, tariff and economic analysis, electric vehicles (EVs), regional transmission organizations (RTOs), and energy procurement. An expert in cost-benefit analytics, he has supported state and local governments, school districts, federal agencies, and private-sector clients in quantifying the economic impacts of energy projects, performing sensitivity analysis, and guiding investment decisions. He has also provided expert testimony on the cost-effectiveness of energy efficiency programs and supported filings on behalf of New Jersey utilities.

Mr. Gabel-Frank has played a central role in developing renewable and efficiency projects through detailed economic, technical, and tariff modeling, solar RFP processes, and SREC transactions. He is highly knowledgeable on RTO issues, including energy and capacity markets, demand response, ancillary services, and interconnection, and assists clients in shaping strategies around evolving market rules. His expertise extends to EV grid impact modeling and advanced analytics, including co-developing the firm’s proprietary Analytical Likelihood of Availability and Non-Performance Risk (ALAN) model, which evaluates the performance and risk exposure of capacity resources in PJM and ISO-NE.

Holly Reed Chief Operating Officer

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Holly Reed Chief Operating Officer

Holly Reed, Chief Operating Officer (COO), brings more than 20 years of strategic leadership in business development, marketing, and contract operations within the energy industry. As COO, Ms. Reed oversees the firm’s day-to-day operations and helps to implement the leadership team’s strategic vision. She focuses on cross-divisional alignment, process optimization, and infrastructure innovation to support the firm’s evolving goals. She is committed to continuous improvement and strengthening operational consistency through active communication and collaboration. Given her longevity at the firm, she carries a strong appreciation for the organizational dynamics and cultural climate.

Prior to her COO role, Ms. Reed led the firm’s Contracting and Marketing division, where she built a high-performing team responsible for securing key client engagements, developing proposals, negotiating contracts, and overseeing the firm’s marketing efforts. With a strong attention to detail and accuracy, she also frequently provided QA/QC support. In addition, she has experience in supporting clients with issues related to renewable energy markets and transactions. Throughout her career, she has facilitated over $100M in SREC/REC sales on behalf of various public and private clients.

Robert Chilton Executive Vice President

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Robert Chilton Executive Vice President

Robert Chilton, Executive Vice President, brings over 40 years of experience in the energy industry, with expertise spanning procurement, utility tariff design, market forecasting, renewable and combined heat and power (CHP) project development, purchase power agreement (PPA) pricing, and dispute resolution. He directs and performs analysis across wholesale and retail markets, including cost-benefit assessments, feasibility studies, contract negotiations, and energy and capacity market evaluations. Mr. Chilton has led the procurement and financial evaluation of numerous renewable, traditional, and CHP projects, leveraging his deep regulatory knowledge and commercial expertise to help clients assess risks, maximize savings, and protect their interests in complex energy transactions. He is also highly experienced in regional transmission organization (RTO) matters and provides expert testimony before state commissions, RTOs, and the Federal Energy Regulatory Commission (FERC).

Mr. Chilton has played a pioneering role in developing and managing large-scale Government Energy Aggregation (GEA) programs throughout New Jersey, including designing and implementing the state’s first program and guiding more than 15 subsequent GEAs through multiple successful rounds. These programs have delivered hundreds of millions of dollars in savings to residents while advancing clean energy goals. Earlier in his career, he served as Director of Electricity and later Director of the Division of Energy at the New Jersey Board of Public Utilities, where he helped shape state energy policy and led the development and implementation of the landmark Electric Discount and Energy Competition Act, deregulating New Jersey’s electric and natural gas markets. Widely recognized as a leading energy expert, Mr. Chilton continues to provide invaluable strategic, regulatory, and analytical guidance to clients pursuing both traditional and renewable energy initiatives.

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