Sectors

CEPA named as one of the UK’s top 5 economics consulting firms in 2026

Based on feedback from clients, consultants and other sector participants, Consultancy UK has placed CEPA in the top, diamond level ranking of economics consultancy providers in the UK.

CEPA support to Ofcom on Telecoms Access Review 2026-2031

CEPA was commissioned by Ofcom to provide an independent view of relevant betas and other weighted average cost of capital parameters in support of the Telecoms Access Review, which aims to promote competition and investment in fibre networks.

Cost of capital: Beta and gearing for the Telecoms Access Review 2026

CEPA was appointed to consider the appropriate beta, cost of debt and gearing assumptions for the Telecoms Access Review 2026.

Australian Competition & Consumer Commission publishes CEPA’s WACC methodology report

CEPA has advised on an approach to estimate the Weighted Average Cost of Capital (WACC) that is suitable for regulated firms in the telecoms and other sectors.

Analysis of the UK Government’s official methods to assess the value of innovative life sciences manufacturing

The Association of the British Pharmaceutical Industry (ABPI) has published a detailed analysis of the application and design of the HM Treasury Green Book, which was prepared by CEPA.

CEPA Australia advises on the ACCC’s approach to determining the cost of capital

The Australian Competition & Consumer Commission (ACCC) consults about a general methodology, which informs its consideration of the cost of capital across regulatory decision-making processes, including the voice interconnection services inquiry.

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.

CEPA retains its Platinum Rating as a top economics consulting firm in 2025

Consultancy UK, the online platform for the UK's advisory and consulting industry, has once again awarded CEPA a platinum-level ranking.

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.

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.

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.

Final regulations published for a forthcoming mmWave spectrum auction

Ofcom, the UK communications regulator, has published final regulations for a mmWave spectrum auction in the 26 GHz and 40 GHz bands. The approach balances competitive allocation in high density areas with first come, first served in low density areas.

Mobile takeaway: trick or treat?

A study looking at the relationship between market concentration, market dynamism and investment shows a complex story in high-tech industries like telecoms. It seems concentration can facilitate higher investments, in part in a race to lower unit costs through scale and this may be associated with intensified competition.

Is Europe handicapped in high-speed/capacity broadband networks?

CEPA's Chris Doyle considers The Draghi Report “The Future of European Competitiveness”, which claims that regulation and competition policies have disincentivized consolidation in the high-speed/capacity broadband telecoms networks sector.

CEPA continues to grow with additional consulting staff in the UK

We are delighted to welcome eight new members of the CEPA consulting team in London, with two directors, two consultants and four economists adding to CEPA’s expanding pool of people to support our clients.

There is method to the dynamic pricing madness, says David Jones

A CEPA director writes about the benefits of dynamic pricing under certain scenarios, even though this mechanism often appears unpopular.

Leveraging private sector investment in digital communications infrastructure in Eastern Africa

Chris Doyle presents the findings of a CEPA study, commissioned by The World Bank, at its launch to East African stakeholder states.

CEPA co-founder knighted in the King’s 2024 Birthday Honours

We congratulate Dr Keith Palmer OBE, who has been recognised for his exceptional contribution to international development.

Ofcom consults about mmWave auction regulations

UK regulator of communications services invites stakeholders' views about proposals to enable the industry to use mmWave spectrum for new services.

Women in Economics: Breaking Barriers Together

CEPA Senior Consultant Charlotte Hallam joined the panel for the Women in Economics event, along with female economists from the Bank of England, KPMG and the Fraser of Allander Institute.

Using reverse auctions for allocating public subsidies to promote mobile broadband coverage

Following the completion of its usual peer review process, The World Bank has published CEPA's report about the use of reverse auctions in the telecommunications sector.

CEPA supports water, regulatory finance and global health practices with promotions to its partnership

Join us in congratulating Tom Cochrane and Kaveri Kumar on their recent promotions to the firm’s partnership. They join CEPA’s existing global Partners to lead a growing team of more than 50 economic, public and financial policy consulting experts.

Sub-Saharan Africa, Agenda 2063, digital connectivity and gender: bridging digital gaps

We explore where Sub-Saharan Africa (SSA) stands today in regard of digital connectivity and highlight digital gaps, in particular the gender digital divide.

Assessment of competition issues in the telecoms sector is reaffirmed by Australian Competition Tribunal

CEPA’s advice to Australian communications provider Optus, highlighting the adverse impacts of a merger transaction between its two competitors, has been supported by the Australian Competition Tribunal.

Reputation acknowledged by ranking recognition

CEPA thanks those clients, industry leaders, associates and future economists for the feedback they provided to Consultancy.uk, resulting in the firm’s high-level, 2023 ranking as one of the “Top Economics consulting firms in the UK”.

Dr Darryl Biggar appointed to bolster CEPA Australia’s practice

CEPA is pleased to announce the appointment of Dr Darryl Biggar as a senior advisor in its Australian practice.

LSE students present findings about biodiversity policy

We are pleased to have supported another cohort of students undertaking the Capstone Course at the London School of Economics (LSE). 

Spectrum auctions: mmWave frequencies for 5G mobile

Regulators and governments around the world are opening up mmWave spectrum to further develop 5G mobile services. We look at market developments in mmWave bands across the world and describe some of the licence award approaches.

CEPA has again been recognised as one of the UK’s leading management consultants

We are grateful for the continued positive feedback from the market, which has led to CEPA retaining its position in the Financial Times' ratings.

Competition issues in telecoms and related markets

Read our briefing note that examines issues in competition economics and law and how these affect market structure, firm behaviour, sharing agreements and mergers.

Spectrum auctions: thirty years in the making

Spectrum auctions are of strategic importance. Over the last three decades, hundreds of spectrum auctions have taken place worldwide and billions of dollars have been spent.

Our report about using reverse auctions for allocating public subsidies to promote mobile broadband coverage is presented to government

Dr Chris Doyle, CEPA's Head of Telecoms, has presented the findings of our latest communications sector report, commissioned by The World Bank, to Tanzanian government officials.

In the news: CEPA’s assessment of telecoms deal reaches the headlines

Our work is featured by iTnews and the author of the Expert Report, Dr Chris Doyle, CEPA's Head of Telecoms, is quoted for the independent analysis’ dissenting findings, drawn from the economic evidence.

The potential impacts of a partial merger between two of the three Australian mobile telecommunications market operators

Optus has commissioned CEPA to assess the competition impacts of an application to the Australian Competition and Consumer Commission for merger authorisation between Telstra Corporation Limited and TPG Telecom.

Expert from Ofcom appointed to bolster CEPA’s advisory services for the communications sector

We are pleased to announce the appointment of Dr Chris Doyle as a senior advisor to our communications, media and payment systems practice. Dr Doyle will commence working with CEPA on 1 March 2022.

CEPA recognised as one of the UK’s leading management consultants

Following another year of providing high-quality advice to our clients across our core sectors, we are grateful for the positive feedback from the market, which has led to CEPA’s inclusion in the Financial Times’ independent ratings report.

The Payment Systems Regulator (PSR) publishes its report on the card-acquiring market

Card-acquiring services enable merchants to accept card payments. We supported the PSR with its market review and have advised about a range of other payment systems policies.

Decisions made on the regulation of fibre service providers in New Zealand

The New Zealand Commerce Commission has published its first set of final decisions on the regulation of fibre service providers.

Considerations for UK regulators setting the value of debt beta

UK Regulators Network publish a CEPA report on approaches to debt beta estimation and the link between debt beta and gearing levels.

CEPA’s expansion continues across its offices

Increasing demand for CEPA's support and advice drives a growth in consulting team numbers.

How to regulate fibre service providers

The New Zealand Commerce Commission published its emerging views on regulating the fibre service providers.

The impacts of digitalisation on the energy market

CEPA has been pleased to support a London School of Economics ‘Capstone’ project to explore impacts of digitalisation on the energy market.

Cybersecurity in the energy sector: what does it mean for network regulation?

Read our briefing note to learn more about what the key issues might be in the next RIIO price controls.

What should regulators make of big data?

In almost every market one can think of, people are talking about the application of big data analytics and machine learning. Energy and other utilities are no different.

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.

Open Access funding for publication system in Switzerland

CEPA was asked by the Swiss National Science Foundation (SNSF) to recommend a funding model that would allow for a complete transition to an Open Access (OA) publication system in Switzerland by 2020-2024.  

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.

Review of Leased Lines Charge Review Model

CEPA were asked by Ofcom to carry out a review of its 2016 Leased Lines Charge Control modelling developed for the purpose of setting charge controls for the three years from 2016/17 to 2018/19.

Support to higher education institutions during negotiations with publishers of academic journals

CEPA provided support to the JISC Collections to help them conduct negotiations on behalf of the UK's higher education institutions.

Modelling the economics of academic publishing for the Publishing Research Consortium

CEPA was commissioned for a study on the economics of academic publishing.

Review of Digital Terrestrial Television decision for TV3

CEPA advised privately owned television channel TV3 on competition issues related to transmission charges for Digital Terrestrial Television (DTT)...

Review of financial models for Postcomm

Postcomm asked CEPA to review two of its financial models, to improve their robustness and confidence in their results. One of the models was to be published, making it particularly important that the model was well-designed and reliable. 

CEPA supports ComReg’s Review of Weighted Average Cost of Capital in Irish Telecommunications Sector

ComReg - the Irish Telecommunications Regulator - has reviewed its approach to assessing the cost of capital, with assistance from CEPA. The consultation on the approach is now live.