Given the breadth and complexity of the framework, it is perhaps not surprising that there will be room to improve how the framework is implemented in future price controls by learning from RIIO The new material has a greater strength to weight ratio than steel and could be used as a replacement for existing solid wood electricity poles as they are currently coated with soon to be banned creosote, because it is a health hazard.
Pollywood Poles will be made to order, dramatically reducing long lead times for existing poles and the space-consuming stockholdings of DNOs: Report on retail cost escalation published First Economics has recently been working with Water UK to assess the natural rate of change in water retail costs.
Those are positives that reflect the ways in which the RIIO framework is working effectively. Privatisation John Earwaker, director at First Economics, has written this piece as a contribution to the debate about private vs public ownership of England's water and sewerage companies.
First Economics carried out a number of pieces of advisory work for the study team, covering issues such as asset ownership, Network Rail's corporate governance and possible new industry structures. Comparison of average annual activity costs by Northern Powergrid, and Figure Activity costs by Northern Powergrid by type, and Figure This points to improved efficiency on the part of the network companies.
Financeability First Economics has produced a briefing paper on what we see as the key issue in regulation today: GenGame is a spin out from two small engineering consultancies, with a vision of using gamification to support domestic demand side response DSR.
First Economics has acted as an adviser to the CAA throughout the course of the review. Workshop content Topics that will be covered include but are not limited to: Pollywood is a great British innovation that has the chance to change the face of construction.
The cost of capital in these proposals is based on a report prepared by First Economics. That planning discipline gives the managers the confidence they can deliver what they promise. Skew of expected returns: But we also found that some risks were not efficiently allocated in RIIO-1, and that the overall risk profile is likely to have been lower than would justify the available returns.
More information about the conference can be found here 30 April We highlight the following observations: It questions the proposition that companies which fail regulators' financeability tests should be expected to raise new equity and argues instead that NPV-neutral advancement of revenue is the most appropriate regulatory response to weak financial ratios.
As such, the impact of any changes in risk allocation will need to be considered carefully and take account of the combined effect of any changes.
Conforming to that message is hard. John Earwaker was the Utility Regulator's expert witness on cost of capital and financeability. Further details and an order form can be downloaded here.
Network investment by Northern Powergrid by type, and Figure First Economics has been working with seven of the ten water and sewerage companies and one of the water-only companies during the formation of their plans.
The full paper can be accessed here 6 January First Economics has been giving economic and financial advice to the IAA.Our ED1 business plan was published in and you can see it using the link below. Our next price control will be called RIIO-ED2 and will run from to Each year we publish a summary of our performance against the business plan commitments.
Pace Law Review Volume 36 Issue 1Fall Article 2 September RIIO to REV: What U.S. Power Reform Should Learn from the U.K. Heather Payne Center for Law, Environment, Adaptation and Resources, University of North Carolina School of Law. • Involvement in creating a business plan to be submitted to the network regulator as part of the Distribution price control RIIO-ED1.
Cost benefit analysis and justification papers produced totalling a spend of multiple billion £’s over 8 cheri197.com: Acting Commercial & Connections. price control review for Northern Ireland’s gas distribution networks.
copies of relevant submissions from PNGL and FE including business plan commentaries and associated equivalent estimates in Ofgem’s RIIO-ED1 and Ofwat’s PR14 reviews. In RIIO-ED1 Ofgem is building on this track record by ensuring efficient investment to maintain and upgrade the local grid and setting challenging targets which incentivise companies to deliver.
Electricity North West has again been very active during the last year with a number of highlights; We recently submitted out RIIO-ED1 ‘Well Justified Business Plan’ that included a detailed description of our plans for innovation during the RIIO period.Download