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Regulation, competition, economic expertise

Analysis of regulated industries

We provide economic and financial advisory services in tariff review processes, productivity factor estimations, cost allocation and capital cost determination processes, for industries subject to tariff regulation such as energy, telecommunications, and transport infrastructure. Furthermore, Applied Economics contributes to regulatory initiatives of different nature through its regulatory impact analysis.

Experiences

Application of non-reciprocal interconnection charges in the telecommunications market

The convenience of applying non-reciprocal interconnection charges in the telecommunications market was evaluated. To this end, we performed a regulatory analysis of non-reciprocal interconnection charges through the use of an economic model for the assessment of those charges and the review of relevant economic and technical literature.

Strategic Planning of the Telecommunications Investment Fund (Fitel)

As requested by the World Bank, APOYO Consultoria developed the Strategic Plan of Fitel, which included the estimation of the access gap of broadband services nationwide, the assessment of the performance of projects implemented by both the private sector and Fitel, and the identification of other public sector initiatives for the provision of applications of Information and Communication Technologies (ICT). To ensure the viability of the strategic guidelines that were developed, we proposed modifications to the legal and regulatory framework.

Advisory services for the review of Corpac’s air travel tariffs

Tariffs applicable to the air travel services rendered by Corpac were determined within its tariff review process carried out by Ositran, 10 years after the previous tariff modification. The study included a review of the best international practices in tariff-setting used in this sector. As proposed by Ositran, the “cost of service” methodology was applied, for which we forecasted demand, operative expenses, and capital expenses were forecasted, and estimated Corpac’s capital costs.

APM Terminals Callao tariff review process

APOYO Consultoria provided advisory services to APM Terminals during the tariff review process of the first five-year period of its concession. As part of the services, a productivity factor (X) for the Northern Multipurpose Terminal was estimated. In its initial proposal, the regulator only acknowledged US$ 66 million out of the US$ 460 million invested by the company during the 2011-2015 period. This resulted in an annual tariff increase of 4.8% (plus inflation) to occur during the next five years.

APOYO Consultoria contributed to the debate by demonstrating (in writing and through its participation in the respective public audience) that a large portion of the investment amount disregarded by the regulator had to be taken into consideration in the determination of the tariff. As a matter of example, it was made evident that US$ 200 million of the excluded amount belonged to investments that were already operational and approved by the National Port Authority. 

These arguments were accepted by Ositran in its Final Decision: US$109 million were further recognized by Ositran (reaching a total recognized investment of US$175 million), resulting in twice the original annual tariff increase, i.e. 9.6% (plus inflation).

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