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.

A new vision for water

CEPA's water industry experts provide their understanding of the UK Government’s Water White Paper, the path ahead and the choices that underpin regional planning.

CMA publishes Final Redetermination on PR24 price controls

The Competition and Markes Authority (CMA) today published their Final Redetermination on the PR24 price controls (2025-30) covering the water sector in England and Water.

CEPA assists CRU with transitioning businesses to nationally harmonised, cost-reflective trade effluent charges

Ireland’s Commission for Regulation of Utilities published its Proposed Decision on how businesses with “trade effluent” licences will transition to nationally harmonised charging arrangements, with the assistance of CEPA’s “specialist economic and policy advice.

CEPA Australia seeks to fill three key roles

CEPA is seeking senior candidates with the networks, expertise and drive to expand our existing Australian practice into new services, clients and geographies: Partner - Head of CEPA Australia; Director or Managing Consultant; and Senior Consultant or Consultant.

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 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.

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.

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.

Price Review (PR)24 finance delivery partner

CEPA supported Ofwat on the risk and return workstream for PR24. This included advice on the cost of capital, financeability and other broader regulatory finance issues. CEPA’s role involved an assessment of the company business plans, analytical outputs and development of independent CEPA reports on the cost of equity.

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.

What is water poverty and how is it defined?

Given the emphasis on the cost of living in several recent party manifestos, we recognise an opportune moment to raise awareness and foster informed discussion about water poverty in the UK.

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.

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.

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.

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). 

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.

Ofwat publishes a report that considers how to facilitate the delivery of multi-sector reservoir systems

The Regulators’ Alliance for Progressing Infrastructure Development (RAPID) and three water companies commissioned a report from CEPA and Agilia to consider the legal and commercial models that could facilitate the delivery of multi-sector reservoir systems.

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.

Evaluation of New Reg trial in Australia released

The Australian Energy Regulator has published our independent evaluation of a trial, to deliver better outcomes for consumers through network consumer engagement and regulatory innovation.

Ofwat’s vision for the 2024 price review (PR24)

We take a look at: What have we learned about Ofwat’s thinking? What changes are proposed? Where do we expect engagement? And what will water companies need to do?

Ofwat publishes further CEPA report on allocation of risk

Our latest report for Ofwat supports its early thinking on the design of the next water sector price review, PR24.

Ofwat outlines its initial views about the Price Review frameworks for 2024 (PR24) and beyond

The regulator of the water sector in England & Wales has published a consultation response, which discusses its high-level ideas for maximising the potential of price reviews to help the sector create value for customers, communities, and the environment.

Independent review of water affordability

CCW, a body that represents water consumers in England and Wales, has published its review of the affordability support for financially vulnerable water customers.

The Utility Regulator for Northern Ireland publishes its price control draft determination

We have been involved in the process since 2018 and have produced reports, which have been used by the regulator to set efficient cost allowances for NI Water.

How best to measure water poverty

Water UK publish the Measuring Water Poverty using a bills to income metric report that we prepared for them.

CEPA provides analysis for the New Appointments & Variations Regime in the water industry

Ofwat, the economic regulator of the water sector in England & Wales, has commissioned CEPA to analyse bulk charges for the New Appointments and Variations (NAVs) Regime.

CEPA helps to define water poverty, understand future pressures & appraise UK water companies’ efforts

CEPA supports UK Water Industry Research with their work designed to help decision makers and water companies in making water and sewerage bills affordable and their ambition to achieve 'zero customers in water poverty by 2030'.

Water poverty drivers & metrics in the UK

UK Water Industry Research (UKWIR) will host the launch of a new report, which is designed to support decision makers and water companies in the UK.

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.

Utility Regulator publishes approach papers for its price control

The Utility Regulator in preparation for its price control (PC21), has published its PC21 Opex ‘minded to’ Methodology and PC21 Capex 'minded to' Methodology.

Econometric benchmarking for Ofwat

CEPA was commissioned by Ofwat to develop a suite of econometric models focusing on different parts of the value chain in order to determine the efficient level of costs allowed for companies under each of the binding price control settlements for PR19.

Approach to customer segmentation in the water sector

CEPA was engaged by Ofwat to build an evidence base on approaches to customer segmentation and possible data sources to inform approaches to residential customer segmentation.

Evaluating the social and economic impact of investments in wastewater

CEPA conducted a literature review of methodological approaches to evaluate economic and social impact of investments in the wastewater sector.

Review of readiness for retail market opening

CEPA was appointed by Ofwat to carry out a targeted review of market participants’ readiness for opening of the retail market in April 2017 for...

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...

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.

Merger support in the water sector

CEPA supported Ofwat in the CMA inquiry into the merger of South West Water and Bournemouth Water.

Informing the development of water access charging methodologies

CEPA was commissioned by CC Water to provide a report on possible approaches to access pricing in the water sector in light of the reforms being introduced to make the sector more competitive.