Other PPPs Other PPP structures which involve major capital expenditure include regulated utilities (such as power and water) and regulated transport infrastructure such as airports and rail. The terms on which these entities contract are influenced by the regulatory regime which applies to them. They are required to comply with the procurement regime in the Utilities Regulations, which is less prescriptive than the procedure outlined above for PFI projects. The recent GBP 2.3 billion Thames Tideway project was a complex hybrid under specific enabling legislation (the Floods and Water Management Act 2010) under which the EPC element of the project was competed separately from the ownership of the infrastructure provider established by Thames Water to construct and operate the asset. Examples of other hybrids include the London Underground PPP and Heathrow Terminal 5.
Robert Franklin Legal Director, London T: +44 (0)20 7876 4242 E: robert.franklin@clydeco.com
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