CEPA - Transport

CEPA is actively developing its transport practice. Our staff and associates have many years of experience of airports, roads and rail and have worked for both public and private sector entities.

Recent clients include the London Underground PPP Arbiter, Commission for Aviation Regulation, Ireland and the UK Department of Transport.

CEPA's particular experience relates to:

	Public policy and finance advice on airports, rail and road - based on in-depth understanding of the key institutional, regulatory, financial and economic issues.
	Financial modelling - drawing on extensive experience of modelling complex project and financial structures across transport sectors.
	Network regulation and strategy - including detailed understanding of regulatory strategy, access charging structures and the specific competition issues raised in the rail sector.
	Transaction advisory services - drawing on experience of delivering Private Finance Initiative (PFI) roads, managing complex rail enhancement projects and investing in airports.

CEPA has framework contracts with the UK Office of Rail Regulation (ORR) for regulatory economics and corporate finance advice, and the London Underground PPP Arbiter for economic advice.

Case Studies
Advice to British Airways on cost of capital and other issues in the Q5 determination for BAA, Heathrow and Gatwick

Advice to ORR on the Cost of Capital for Network Rail

Approaches to defining the ‘efficient London Underground Infraco’ - Office of the LU PPP Arbiter

Capex review of Dublin Airport

Publications
Airport Cost Benefit Analysis Tool

CEPA study on incentives in the GB rail industry [CEPA paper] [ORR consultation document]

CEPA's report to the Office of the PPP Arbiter on Material Change in Risk

A discussion note for ORR: Setting the Rules for Ring-Fenced Fund in CP4