Thomas J. Flaherty III

Thomas J. Flaherty III


Thomas Flaherty is an advisor to executives in the electric power and gas sectors for Strategy&, PwC’s strategy consulting group. Based in Dallas, he is a principal with PwC US.

Over the past 40 years, Mr. Flaherty has directed numerous engagements that draw upon his expertise in:

  • Strategy development 
  • Corporate growth and M&A
  • Financial management and capital allocation
  • Organizational restructuring
  • Performance improvement
  • Regulatory strategy and assistance
  • Capital allocation
  • Risk analysis

Mr. Flaherty has been involved in the majority of the power and gas mergers in the United States and a number of cross-border transactions involving companies in the United Kingdom, Canada, Australia, and New Zealand.  He has worked with a number of private equity participants on the assessment, modeling, and operations transfer of acquisitions related to generation, transmission, and distribution assets or segments.

Mr. Flaherty also has led several utility privatization programs involving gas, power, and water utilities in Argentina, Venezuela, Uruguay, Australia, and the United Kingdom.  These programs focused on readiness for privatization, business plan development, financial valuation, buyer interface, and operations improvement.

In the area of mega-project planning and management, Mr. Flaherty has been actively involved with numerous proposed new nuclear, coal, gas, and pipeline projects and conducted a range of assignments related to risk assessment, project management, commercial strategy, and bid evaluation. He has conducted more than 25 retrospective or contemporaneous project reviews of nuclear and coal construction projects. These assignments have addressed underlying economic viability, as well as the functional areas of project management, project controls, design and engineering, procurement, construction, quality assurance, start-up, and financing. These assignments have been conducted for owners, Boards of Directors, and regulators. He has also provided expert testimony before state regulatory bodies related to capital project management.

Mr. Flaherty is a frequent speaker at industry conferences on topics such as enterprise strategy, M&A strategy, and industry evolution.  He has recently published articles on business model innovation, M&A, strategic flexibility, and financial management.  He is a contributing author to the Strategy& study, "Value in the Balance: Preserving Equity in the Merger Approval Process." 

Prior to joining Strategy&, Mr. Flaherty led the Deloitte Consulting strategy and operations practice area where he focused on M&A, including target screening, synergy identification and quantification, financial forecasting, performance management, organization design, business strategy, and turnover planning.

Mr. Flaherty holds a BBA in Accounting from the University of Oklahoma.