As the UK prepares for a significant wave of energy system investment, a growing challenge is emerging: how should infrastructure assets be valued and financed when the future is uncertain, and the regulatory framework is under pressure? Our May roundtable brought together utilities, investors, and regulators to explore how future uncertainty—about technology pathways, timelines, and regulation—affects asset valuation, cost of capital, and long-term investment risk.

Case studies—such as gas network demand forecasting and power outage tail risk modelling—demonstrate how investors and policymakers can better align on what assets are worth, how risk is priced, and how regulatory frameworks can evolve to deliver the investment required.

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