Elizaveta Malashenko

Managing Director
18+ years of experience in electric power and utilities
Supports clients in strategy, deal execution, and operations excellence
Expertise in regulated utilities and clean energy sectors
Houston
@alvarezmarsal
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Elizaveta Malashenko is a Managing Director with Alvarez & Marsal Energy in Houston. She specializes in supporting clients in electric power, natural gas, and the clean energy space. Her primary areas of concentration are strategy, deal execution, and operational excellence.

With more than 18 years of energy transition experience, Ms. Malashenko has driven innovation and change as a consultant and a regulator. Her notable recent assignments include a strategy engagement at a utility considering regional reorganization, an operations transformation at one of the largest U.S. utilities, and a commercial strategy initiative for a global energy company. She has also led the development of A&M’s proprietary peer insight tool (A&M Power Generation PeerView) to support cost efficiency and operational excellence for independent power producers.

Ms. Malashenko typically works across a range of companies on performance improvement and operations transformation, with clients including major investor-owned utilities, utility operations and maintenance service providers, private equity-owned portfolio companies, and many other companies in the electric power and natural gas value chain.

Prior to joining A&M, Ms. Malashenko spent more than three years with McKinsey & Company in New York, where she was a Senior Expert and Associate Partner in the Electric Power and Natural Gas practice. She started her career in consulting, working on grid modernization and tech transformations in the energy and utilities practice at IBM.

Additionally, Ms. Malashenko spent more than eight years in the California state government, where she drove policy formulation on a wide range of topics in the safety, reliability, and grid modernization space. While at the California Public Utilities Commission (CPUC), she led an organization of more than 350 engineers and inspectors performing audits and investigations of major safety/environmental incidents, including the San Bruno pipeline explosion, the Aliso Canyon gas well failure, and multiple utility-ignited wildfires, including the Camp and Woolsey fires. Ms. Malashenko also led the CPUC approach to bankruptcy of Pacific Gas and Electric and drove the development of California’s response to the wildfire crisis in the 2017–2020 timeframe, including developing the utility wildfire mitigation frameworks.

Ms. Malashenko earned a bachelor’s degree in economics and political science from the University of Pennsylvania and an MBA from the University of California, Los Angeles.

Insights By This Professional

The financial health of companies in the electric power space is critical for the energy transition, making climate resilience essential for achieving broader decarbonization goals.
Growth in the renewable energy industry has accelerated significantly in recent years, highlighting the need for performance excellence. Connect with A&M Energy experts and learn how we can help you to improve operations and control costs.
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