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Oxera and TenneT complete landmark study on smarter incentives for TSOs

Transmission system operators (TSOs) manage the high-voltage grid by investing in its infrastructure, balancing electricity demand and supply at all times, and facilitating cross-border electricity trades. For a project with TenneT, the TSO in the Netherlands and for large parts of Germany, we explored how the regulation of TSOs could evolve in the future. The

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The cost of equity for RIIO-2 – Q4 2019 update

Energy networks have recently submitted their final business plans to Ofgem in advance of the forthcoming RIIO price controls for transmission and gas distribution. Oxera prepared updated estimates of the cost of equity to inform the companies’ business plans. The report reflects new evidence from capital markets since the Oxera report from Q1 2018, as

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Gigabit broadband: what does it mean for consumers and society?

Imagine a world where you could have remote access to a healthcare specialist who could assess, diagnose and potentially treat you at home; or a school lesson where you’re virtually ‘transported’ to the surface of the moon to learn about the solar system; or a meeting with colleagues who are in different parts of the

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NGESO financial price control parameters for RIIO-2

Oxera is advising National Grid Electricity System Operator (ESO) on the calibration of financial price control parameters in line with the risks faced by the company in the RIIO-2 period. Ofgem is currently establishing a new regulatory regime for National Grid ESO following the legal separation of the company from the electricity transmission business of

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The impact at a local level of investments in Very High Capacity Networks

Very high capacity broadband networks are crucial for enabling interconnection between areas, industries and people. They facilitate interaction, collaboration, trade and the social and economic benefits that come with them. In today’s connected world, having up-to-date and future-proof digital and telecommunications infrastructure is a key strategic priority for the UK government. The Broadband Stakeholder Group (BSG)

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PR19 draft determinations: Key movements

Ofwat’s draft determinations for the non-fast-tracked companies, published a week ago, cover a wide range of issues (across several documents). Now that the dust is settling, it’s time to take stock. What are the key messages on efficiency and finance? The non-fast-track draft determinations are certainly more challenging on finance compared to Ofwat’s early view. Moreover,

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Oxera study on the supply of generic medicines in the UK

The UK pharmaceutical industry, and in particular the generic medicines segment within it, has grown significantly in recent years. For example, the use of generic medicines has doubled between 2005 and 2017 to reach 75% of total prescriptions. At the same time, they account for only 28% of NHS spending on drugs valued at reimbursement prices.

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Ofgem’s Targeted Charging Review Impact Assessment

In November 2018 Ofgem opened a consultation on changes to the way in which it recovers the costs of the networks used to transport electricity to homes, public organisations and businesses.In response to the consultation, energy companies Innogy, RES, ScottishPower and Vattenfall asked Oxera to review the analysis on which Ofgem had based its proposed Targeted Charging Review reforms.

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The design of equity trading markets in Europe

The Federation of European Securities Exchanges (FESE) asked Oxera to examine how the EU’s Markets in Financial Instruments Directive (MiFID I), and more recently MiFID II, have affected equity markets, the role of price formation, and the impact of trading venues charging for market data.

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