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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.
High interest rates and investor backlash risk missing capital goals if government can't lock in stability and new financing mechanisms
How the UK’s high interest rate environment could re-price infrastructure
15/09/25
Executive summary: Britain’s water‑supply “megaprojects” are arriving: 30 schemes with ~£50bn of lifetime spend, most to be let via...
Choice of major water project regulation impacts required equity returns by 220-320bps
19/08/25
CAPM: a 1960s relic still steering today’s £200 bn UK infrastructure. Regulators continue to fix allowed returns with the Capital Asset...
Using CAPM to regulate infrastructure: A critique
01/08/25
Ofgem’s RIIO-3 Draft Determinations, released on 1 July 2025, set out headline cost-of-equity allowances. But the CAPM methodology to...
RIIO-3 Draft Determination: Step-by-step guide to calculating Cost of Equity
31/07/25
In 2015, the Thames Tideway Tunnel cleared at roughly 4% real Cost of Equity (CoE); this month, fresh capital for Sizewell C was priced...
Water DPC projects may require 9.2-9.6% Cost of Equity
30/07/25
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