Expertise

Spain’s competition and markets authority recommends lower cost of capital for Aena’s upcoming regulatory period

Following CEPA's advice to airlines, Spain’s competition and markets authority has recommended a reduction in Aena’s airport charges for the upcoming 2027-31 regulatory period.

DESNZ publishes CEPA report on hurdle rates for electricity generation technologies

The UK Department for Energy Security and Net Zero (DESNZ) has published CEPA research and analysis on estimates of hurdle rates for a range of different electricity generation technologies.

Competition Appeal Tribunal passes significant judgment that will impact users of Visa and Mastercard card schemes

A judgment, handed down by a Tribunal on 27 June 2025, has ruled that default multilateral interchange fees of card schemes breach EU and UK competition law.

The hidden health crisis: How fossil fuels threaten human health

Giulia Gasparri, a CEPA Consultant with significant global health and climate change sector expertise, has today delivered a session at the fifth edition of the Global Community Health Annual Workshop organized by the UNESCO Chair Global Health & Education.

Financial economics / regulatory finance: Consultant, Senior or Managing Consultant

We are seeking an exceptional individual to join us in London, to support CEPA's work in financial economics / regulatory finance. We are interested in candidates applying for roles between our Consultant and Managing Consultant grades.

Report on risk and return published as part of CMA redetermination

CEPA, in continuing to support Ofwat as Delivery Partner on the PR24 water sector price controls throughout the Competition and Markets Authority redetermination, has published evidence on the cost of capital.

Immunisation: a critical pillar of climate adaptation

Gavi, the Vaccine Alliance has published a technical paper, developed with support from CEPA, which makes the case for the integration of immunisation as an effective anticipatory measure into climate adaptation strategies.

CEPA immersive work experience

We were delighted to welcome three Economics A-Level students for a two-day immersive course at CEPA. We introduced the students to the world of economic consultancy and shared insights into some of our key sectors - energy, water and global health.

Estimating the asset beta for BT Group

CEPA has been commissioned by Ofcom, the UK's regulator for communications services, to provide an independent view of relevant betas and other weighted average cost of capital parameters in support of the Telecoms Access Review 2026.

Analysis of the deterioration in A&E performance across the NHS in England

CEPA's statistical analysis of A&E performance data across NHS trusts considers the influence of NHS-wide factors, the significance of regional variation and the extent of differentials across individual trusts.

The capacity market debate: What is the underlying market failure?

Utilities Policy, a leading peer-reviewed journal for the utilities community, has published a paper co-authored by CEPA Senior Advisor, Darryl Biggar.

Setting the cap and floor for long duration electricity storage

The UK’s Department for Energy Security and Net Zero published a joint government and Ofgem technical decision document, which confirms details of the long duration electricity storage cap and floor scheme and how it will operate.

The National Payments Vision: What are its chances of success?

Payment ecosystems have evolved significantly in recent years – but the UK is no longer the leader it once was. Hence the new National Payments Vision (NPV) outlined by Rachel Reeves in her Mansion House speech in late November. We examine the drivers behind the NPV and its chances of success.

Report on cost of capital for Heathrow H8 price review

CEPA, on behalf of the International Air Transport Association, publishes review of Civil Aviation Authority view on the cost of capital for the H8 price control.