At CEPA, we advise both private and public-sector clients on funding and financing issues where public policy, economic analysis and finance overlap. We understand financial markets and how investors think and leverage our experience in regulatory finance and the broader policy environment to inform our advice.
We have expertise in both developed and developing markets, across regulated and infrastructure sectors. Our work has spanned a range of financial, commercial and regulatory issues, for new assets as well as existing assets that may be up for sale. This includes leveraging private sector participation and financing through tailored models that are suited to local conditions and government and/or regional objectives.
We specialise in:
- Transaction advisory – we provide support throughout the project cycle, including concept development, feasibility assessments and testing, procurement, transacting and post-contract review.
- Structuring PPPs and other commercial arrangements – design and implementation of innovative special purpose vehicles to support infrastructure project preparation, appropriate risk assessment and allocation and affordable financing.
- Due diligence – for both regulated and commercial targets.
- Funding and financing assessments – this includes identifying and prioritising sources of funding, as well as designing interventions to remove market failures and improve project bankability.
Finance News & insights
Final report on New Zealand’s 2020/21 base milk price calculation published
The Commerce Commission in New Zealand has published its final report following the review of Fonterra’s 2020/21 base milk price calculation.
Opportunities to join the CEPA team in Australia
CEPA Australia, which advises clients throughout the Asia Pacific region, is expanding and is now looking to fill two new vacancies.
CEPA Australia advise on asset beta and specific risk premium
We have supported the Commerce Commission, New Zealand with their regular review of the base milk price calculation.
Australian Energy Regulator considers the links between the risk-free rate & market risk premium
The AER asked us to advise on the approach to estimating the Market Risk Premium (MRP) for the 2022 review of the Rate of Return Instrument. Specifically, we were asked whether there is a relationship between the risk-free rate (RfR) and MRP.
The new Build Back Better (B3W) initiative
In light of the recent announcements from the G7 regarding the B3W initiative, we have prepared a briefing note that focuses on how G7 countries can mobilise private finance for infrastructure in lower and middle income countries.
A new approach to the financing of public infrastructure
A major impact of COVID-19 has been a significant increase in the amount of borrowing by the UK government. This will likely have reduced the fiscal headroom available to the government to deliver its desire to ‘level up’ through an expansive infrastructure programme.
African Development Bank (AfDB) launches report to support investment into the African energy sector
AfDB and the Sustainable Energy Fund for Africa commissioned a consortium led by CEPA, to assess the availability of local currency finance for sustainable energy projects and the obstacles developers face in tapping into local financial and capital markets.
Consortium appointed to advise on the auction of offshore electricity transmission assets
CEPA appointed as part of Smith Square Partners consortium to advise Ofgem on the TR7 auction of offshore electricity transmission assets.
CEPA director presents his network charging vision to key energy stakeholders
Speaking at DCUSA Ltd’s 2020 Strategy Day, Patrick Taylor set out his views about the future of electricity charging in GB.
CEPA fast-track relief service
In these challenging times, we are able to offer a hand of support to those that find themselves facing resource constraints as a result of the global covid-19 crisis.
Gatsby Africa asks CEPA about development finance
We were pleased to work with Gatsby Africa to consider how development finance can enable growth and transformation of agriculture.
CEPA’s expansion continues across its offices
Increasing demand for CEPA's support and advice drives a growth in consulting team numbers.
Global Infrastructure Hub publishes guidance on infrastructure banks
Guidance has been published to assist governments interested in establishing, or reforming, a national infrastructure bank or a similar financing facility.
A guidance tool for National Infrastructure Banks and related facilities
We developed a reference tool which examined areas where National Infrastructure Banks could play a catalytic role.
Mobilising finance for infrastructure in Sub-Saharan Africa & South Asia
Our research for DFID highlighted the need for public institutions to create bankable infrastructure projects to unlock funds available from the private sector.
Financing UK infrastructure
Our review of private financing for infrastructure contributed to the national infrastructure debate on what role the public and private sectors should have in developing...
Strategic support to the Private Infrastructure Development Group
We advised the Private Infrastructure Development Group (PIDG) to focus on addressing project development constraints and facilitate local currency finance under its new Five-Year Strategic Plan.
Authorised Push Payment scams
Working with the industry and the regulator to summarise responses to a draft code.
Senior hire to meet demand from energy companies and regulators worldwide
CEPA today welcomes Gary Keane as a director to the consulting firm’s London headquarters.
Airport capacity strategy
CEPA’s contribution to this study on delivering the future airport capacity requirements in Ireland for the Irish Department of Transport, Tourism and Sport set out the decisions Ireland has to make - and the timing - to come to a good decision on the future capacity requirements of Dublin Airport.
Expert advice on cost of capital issues in the telecoms sector
We provided expert advice to Ofcom on cost of capital issues in the telecoms sector.
Alternative approaches for setting the cost of debt
CEPA were commissioned by two UK economic regulators to look at alternative approaches that could be used in regulatory determinations for the cost of debt allowance.
Estimating a shadow value of water
CEPA were appointed by the EBRD to support them in developing estimates of an economic value of water, reflecting the full social costs of water...
Financing the Universal Postal Service
We have helped Ofcom (and previously Postcomm) think through how best to ensure that Royal Mail is able to deliver the Universal Service in a financially sustainable manner.
Thames Tideway Tunnel & the cost of capital
In 2015, Ofwat awarded the licence for the Thames Tideway Tunnel. As part of the announcement, Ofwat stated the cost of capital that will apply during the construction period of the project (the 'bid WACC') would be 2.497%.
Financial and economic analysis of Morocco’s water leakage reduction objective
CEPA was hired by the World Bank to review Morocco's submission to the United Nations Framework Convention on Climate Change.