Consultant Reports for review of economic regulation of Heathrow, Gatwick and Stansted from April 2014

As part of its review of the economic regulation of Heathrow, Gatwick and Stansted airports from April 2014 the CAA has commissioned a number of consultant reports about aspects of the airports' operations and businesses. Some stakeholders (airports and airlines) have also commissioned consultant reports that they have submitted to the CAA.

Consultant reports commissioned by the CAA

• Estimating the cost of capital in Q6 for Heathrow, Gatwick and Stansted- report by PwC (April 2013) - terms of reference
• Cost of capital for UK designated airports - paper on the split cost of capital and skewed returns by PwC (April 2013)
• Scope for efficiency gains at Heathrow, Gatwick and Stansted airports - report by CEPA (April 2013) - terms of reference
• Gatwick Airport Q6 capex review - phase 2 report by Davis Langdon (April 2013)- terms of reference
• Assessment of maintenance and renewals costs at Heathrow - report by Steer, Davies, Gleave (April 2013) - terms of reference
• Assessment of maintenance and renewals costs at Gatwick - report by Steer Davies Gleave (April 2013)
• Assessment of commercial revenues at Heathrow - report by Steer Davies Gleave (April 2013) - terms of reference
• Assessment of commercial revenues at Gatwick - report by Steer Davies Gleave  (April 2013)  
• Airport price monitoring: Further insights - report by First Economics (April 2013) - terms of reference
• Advice on the calculation of  long run incremental cost estimates for Gatwick and Stansted: response to comments by Gatwick Airport Limited - report by Europe Economics (April 2013) - terms of reference
• Review of other operating expenditure at Heathrow Airport - report by Steer Davies Gleave (April 2013) - terms of reference
• Review of other operating expenditure at Gatwick Airport - report by Steer Davies Gleave (April 2013) 
• Central support costs - report by Helios (April 2013) - terms of reference 
• Comparing and capping airport charges at regulated airports - report by Leigh Fisher (April 2013) -  Emerging findings report (September 2012)  -terms of reference
• Benchmarking employment costs: a research report for the CAA - Gatwick - report by IDS Thomson Reuters(April 2013) - terms of reference 
• Benchmarking employment costs: a research report for the CAA - Heathrow - report by IDS Thomson Reuters (April 2013) 
• Gatwick Airport report of Q5 capex - report by URS (April 2013) - terms of reference

 Consultant reports commissioned by other stakeholders

• Relative risk for London Heathrow - a report for London Heathrow by NERA (April 2013)
•  Setting the weighted cost of capital for Heathrow and Gatwick in Q6 - report by British Airways for CEPA(April 2013) 
• Heathrow Airport's cost of capital  - report on behalf of Heathrow by Europe Economics (April 2013)
• What is the cost of capital for Gatwick Airport beyond Q5 - Methodology and estimation  - report for Gatwick Airport by Oxera (January 2013) 
• How has the risk of Gatwick Airport changed since the start of Q5 - note prepared for Gatwick Airport by Oxera (December 2012)
• Comment on the split cost of capital proposal of Professor Helm submitted by British Airways - prepared for BAA (March 2012)
• The split cost of capital and utility regulation with particular reference to airports - paper commissioned by British Airways by Dieter Helm (December 2011)
• Adjusting Heathrow's cost of capital for skewness: Methodological and qualitative issues - report for BAA  (September 2011)