Utility Regulation Experience Sheet
PROJECT AUDITOR, PERIODIC REVIEW. Cross company work in developing an assessment schedule to test the materiality of expenditure on both Operating and Capital (Opex and Capex) profiles by the UK water, and water & sewerage companies. The test was based on the significance of this spend in relation to companies’ turnover. Materiality then needed to be explained to OFWAT to assist in their devising of ‘K’ – the regulatory decreed price movement above or below the Retail Price Index (RPI).
PROJECT CONSULTANT, Work Management: Thames Water Utilities. Development of Audit Plan and assessment criteria for the completion of the Supply/Demand Balance information requirement to OFWAT, itself forming part of the Periodic Review process. The companies required to report to OFWAT under regulatory statute do so in accordance to audit guidelines (“Reporter” role). Supply/Demand Balance submission includes application of Long Run Marginal Cost (LRMC) to water supply sustainability issues.
PROJECT FINANCIAL MANAGER, Railtrack plc. Responsibility for all aspects of project financing: monitoring and evaluation of budget; allocation of deployable resources; cost monitoring for contractors involved in civil engineering and construction work. Forecasting Asset Management Plan (AMP) efficiency assessments, as utilised across the seven regional zones, which comprise Railtrack’s national network. The project aimed to identify best practise in the identification and analysis of data collection for the purposes of comparing the efficiency of core investment spending, as relating to maintenance of the network. Both engineering and economics’ based assessment criteria were applied.
PROJECT CONSULTANT, Sydney Water Corporation. The company decided, for purposes of international comparison, to submit their Reporting Requirements under OFWAT guidelines to the UK regulatory body. Responsibility as key liaison for UK based activities.
PROJECT CONSULTANT, Railtrack plc. Project Finance Officer: project management and maintenance of budget control. Responsible for negotiating new budget, based on limitations of initial contract to fulfil deliverables requirement. Asset Management Plan appraisal. Involving collation and audit of efficiency review data. The first of a series of internal benchmarking programmes designed to identify efficiencies in investment spending.