EMCa assisted TNB with preparation and justification of its capital and operational expenditure forecasts (and supporting narratives), WACC, RAB, Incentive Scheme parameters and targets, and regulatory accounting methods including regulatory depreciation and RAB roll-forward. The advice encompasses transmission and distribution activities across peninsular Malaysia as well as other operating divisions.

With an associated firm, EMCa is advising the Malaysian Energy Commission (Suruhanjaya Tenaga) on benchmarking expenditure, prices and performance in the Malaysian electricity generation, transmission and distribution sectors.

EMCa advised the ERA on proposed expenditure requirements for two gas network businesses in Western Australia. This work involved applying applying a mix of network business management, management engineering, asset management and regulatory economic disciplines to the reviews.

EMCa advised the AER on proposed expenditure requirements for electricity transmission and distribution businesses in Queensland, New South Wales, Victorian and South Australia, as part of the AER’s five-year revenue determination processes.  EMCa undertook this work in conjunction with our partner firm applying a mix of network business management, management engineering, asset management and regulatory economic disciplines to the reviews.

EMCa and associated firm advised the Singapore EMA (as regulator) on the 5-year capex budget that was proposed by SP Power Assets (SPPA).  SPPA is the transmission and distribution network provider for Singapore.  This work was undertaken through a Singaporean partner firm: Frost & Sullivan.

In association with associated firms, EMCa advised the Singapore EMA on economic and technical considerations in converting the current reformed gas (“town gas”) supply to natural gas.  We have also advised on a road map for enhancing competition in the gas retail sector in Singapore.

EMCa was a major contributor to the federal government’s assessment of the economics of smart metering.  EMCa also advised the Victorian government on the evolving economics of its policy to mandate the introduction of smart metering, and advised a UK network service provider on smart metering policies under development in that country.

EMCa undertook a network expenditure review of Western Power (capex and opex) at the time immediately preceding the establishment of Electricity Networks Corporation (the current entity trading as Western Power) and the retail entity Synergy. This review was conducted for the WA Government and involved financial modelling of the projected revenues and expenditures, and long-term pro-forma future financial statements, which allowed the Government to establish balance sheet funding parameters for the new entities and to assess electricity retail pricing implications of the de-merger.

EMCa provided network regulatory economic advisory services to the New Zealand Commerce Commission over a period of four years. This work covered a range of issues addressed in regulatory network pricing determinations.  This included developing a regulated Information Disclosure Regime for the 29 electricity distribution networks, advising on matters relating to assessments of “excess returns” including the specification of WACC, allowance for tax, regulated asset base (RAB) roll-forward mechanisms and risk and incentive mechanisms in the regulatory framework.  This work also included advice on the extent to which the NZ gas networks had earned “excess returns” as input to consideration of enhancements to the regulatory regime.

In response to significant concerns with delays and costs in connecting to the Western Power network (particularly for new entrant generator connection applications) EMCa and associated firm developed a significantly revised process for managing connection applications.  This work involved significant stakeholder consultation, assistance with regulatory approval of the revised policy and then assistance with the Western Power change management project to implement the revised policy.

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