Recommendation 11

Though government attempts to determine the success of a project through measures such as cost-benefit analysis, they do not routinely evaluate completed projects.19 The UK has used a variety of private financing models to deliver new infrastructure, including but not limited to: Contracts for Difference, which guarantee wholesale prices for generators over 15-year periods (e.g. offshore wind); Regulated Asset Base models, which allow a private sector provider to charge users a regulated price for utilities and include an element in bills to fund new investment; and the Private Finance Initiative (PFI)20 used extensively between 1992 and 2018 to design, build, finance, and operate infrastructure projects for public authorities, such as schools and hospitals.21