top of page
RESEARCH LAB
This is an exclusive space where we provide access to research, market intelligence, and expert insights on infrastructure investment, regulation, and financial modeling.
Our July 2026 roundtable focussed on geopolitical risk in regulated infrastructure: What impact does foreign equipment and capital have on UK infrastructure finance and regulation? Drawing on Vallorii’s Cost of Capital Lab, we explored how geopolitics enters infrastructure assets: imported equipment behind capital and maintenance programmes, and the foreign capital financing the sector. The discussion suggested that affordability, security, and the cost of capital, are closely interlinked...
Roundtable July 2026: Geopolitics and the Price of Foreign-Built, Foreign-Financed Infrastructure
24/07/26
Our May 2026 roundtable turned to financial resilience in regulated infrastructure, asking a question that has moved to the centre of the UK infrastructure debate: How can the system balance the financial resilience that protects utilities against shocks with the affordability pressures that resilience-restoring measures place on consumers? Drawing on Vallorii's Price of Risk model (VAPRI), we explored how the erosion of financial headroom has changed the nature of resilience itself—shifting...
Roundtable May 2026: Financial Resilience: Balancing Resilience and Consumer Affordability
29/05/26
In regulated infrastructure, value is not a fixed concept. The value of an infrastructure asset depends on how it is measured and which accounting basis drives returns. Different accounting frameworks produce markedly different views of the same asset base. Regulatory asset values (RAV), historical cost accounts, and current cost accounts (modern equivalent asset value, MEAV, or replacement cost), each serve distinct purposes. But when the differences between these measures changes,...
When accounting shapes behavior: the hidden incentives in infrastructure valuation
28/04/26
Infrastructure debates tend to focus on what should be built next. Yet a more fundamental question sits beneath them: how quickly should we pay for what has already been built? That question goes to the heart of depreciation. As discussions at the March roundtable underscored, it is emerging as a central lever in infrastructure economics and regulation. How does intergenerational fairness impact affordability? Depreciation directly shapes returns, bill trajectories, and risk allocation over...
Depreciation, Affordability, and the Hidden Trade-offs in Infrastructure Investment
01/04/26
Our roundtable examined how UK infrastructure markets price resilience. Using Vallorii’s VAPRI and the new VARI index, we showed how environmental stress affects asset performance, equity returns and valuations. Discussion focused on incentives, ODIs and funding gaps, with consensus that resilience remains under-priced and needs explicit inclusion in equity returns.
Roundtable March 2026: Depreciation: What does it mean to depreciate infrastructure assets?
19/03/26
bottom of page