PRE-CONFERNCE FOCUS DAY AGENDA - NATURAL CAPITAL ACCOUNTING & ESG CONSIDERATIONS FOR UTILITIES

13:00 Registration and refreshments

13:30 Improving decision making through capitals thinking
• Demystifying capitals thinking
• Minimising risk and improving engagement with investors
• Monetising aspects of ESG within your organisation
Mark Gough, Chief executive officer, Capitals Coalition
Tim Polaszek, Collaboration manager, Capitals Coalition

14:30 Valuing and reporting on natural capital
• Understanding the CDSB Framework and its practical application
• Case study: breaking down real-life examples and best practice
• Understanding what’s worked well and its practical application for utilities
Nadine Robinson, Technical director, Climate Disclosure Standards Board
Sundip Jadeja, Technical manager, Climate Disclosure Standards Board

15:30 Refreshment break

15:50 Roundtable discussions: looking at different ways of capital thinking
• Assessing current risks and opportunities
• Understanding how capitals thinking can be applied to various scenarios
Tim Polaszek, Collaboration manager, Capitals Coalition

17:00 Close of focus day

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AGENDA

08:45 Registration, refreshments and networking

09:20 Welcome from conference chair
Jane Gray, Content director, Utility Week

REGULATION & LEGITIMACY

09:30 Regulatory keynote: balancing affordability and uncertainty – water view
Jonson Cox CBE, Chairman, Ofwat
Note - Jonson Cox has asked that his presentation isn't shared. 

09:50 Regulatory keynote: balancing affordability and uncertainty – energy view
Martin Cave, Chairman, Ofgem

10:10 The legitimacy challenge to the regulatory model – what’s next?
• Legitimacy challenges to the status quo models of regulation
• Current regulatory responses to the legitimacy challenge
• Accommodating pluralist stakeholder interests and sustainability
• Accommodating technological and market change
Sahar Shamsi, Partner, Oxera Consulting

10:25 Panel debate
• What is the right balance between investor returns and delivering essential services?
• What impact is totex having on investor appetite in utilities?
• Are the frameworks for PR19 and RIIO2 financeable?
• What impact is current regulation having on the energy retail market?
• What impact is the price cap having on margins and profitability?
Philippe Busslinger, Senior managing director and head of Europe, OMERS Infrastructure
Phil Jones, President & chief executive officer, Northern Powergrid
Basil Scarsella, Chief executive officer, UK Power Networks
Maria Fassakhova, Senior director, head of UK regulated utilities, Fitch Ratings
Stuart Jackson, Chief financial officer, Octopus Energy

11:25 Refreshments and networking – please leave the room for speaker rehearsals

INFRASTRUCTURE INVESTMENT & CLIMATE CHANGE

11:55 Infrastructure keynote
Sir John Armitt CBE, Chairman, National Infrastructure Commission

12:15 Industry view: delivering a long-term strategy in the face of climate change
Mel Karam, Chief executive officer, Bristol Water

12:35 Panel debate
• Is UK funding of critical national infrastructure at the right level and pace?
• Is it right to tighten investment in the face of climate change?
• How is fossil fuel divestment reshaping investor portfolios?
• How will macroeconomic and political uncertainty (e.g. Brexit & re-nationalisation) affect the appetite for investment in critical national infrastructure?
Malcolm Paterson, Business development director, Scottish Power Renewables
Bronte Somes, Managing director, head of infrastructure equity Europe, UBS Asset Management
Alejandro Ciruelos, Managing director, project & acquisition finance, Santander
Ronan Larkin, Director of finance & regulation, Northern Ireland Water
Andrew Perry, Principal, energy practise, Oliver Wyman

13:25 Buffet lunch and networking – please leave the room for speaker rehearsals

M&A ACTIVITY ITS AND IMPACT ON UTILITY INVESTMENT

14:25 Panel discussion: investor perspectives on sector M&A trends
• What are the new investment strategies currently being applied?
• What’s attractive from a fundamentals point of view?
• What is impacting general appetite for investment?
• Regulated vs non-regulated utilities – impact on investment strategy
John Lynch, Managing director principal investments, JP Morgan Infrastructure Investment Fund
Peter Antolik, Partner, Arjun Infrastructure Partners
Richard Nourse, Managing director, Greencoat Capital

15:15 Refreshments and networking – please leave the room for speaker rehearsals

NEW BUSINESS MODELS, NEW INVESTMENT RULES

15:45 Panel discussion: business models reimagined & impact on investment
• How do business model changes impact investment?
• How does the shift of asset owners to data companies impact the risk profile of utilities?
• Will customer bills have to increase in future to attract newer, more expensive sources of capital?
Robert Wall, Partner – infrastructure, Hermes Investment Management
Iain Smedley, Managing director, chairman, EMEA power, utilities & infrastructure investment, Barclays
Aarti Singhal, Director of investor relations, National Grid
Paul Robinson, Chief financial officer, Shell Energy

16:35 Chair’s closing remarks and end of summit