Risk Sharing And Capacity Investment In The
Urban Water Sector In Europe
Author(s)
P. Luís-Manso & M. Finger
Abstract
Environmental standards in the urban water sector have become increasingly
stringent in Europe, which consequently increases the cost of water and
sanitation services. In conjunction with the crisis of public finance in many
regions, these standards are pressing the traditional way of financing through the
public budget. Moreover, the infrastructure network is ageing in many countries
and thus there is a considerable demand for renewal investments. Efficiency,
underinvestment and environmental problems have therefore triggered important
reforms in the urban water sector in the past decade. These reforms are creating
new sources of uncertainty and vulnerability related to the management and
regulation of water utilities. They are a result of the emergence of new actors
playing an active role in the sector, as well as the \“unbundling” of managerial
and regulatory functions. As a matter of fact, the multiplication of the actors in
the urban water sector, and new institutional arrangements diffusing
responsibilities traditionally concentrated on publicly owned integrated utilities,
raises new issues one of the most important being the sustainability of capacity
investment. Risk management, including the change of risk sharing patterns, is
an essential decision in water management and has considerable influence on
investment. This paper thus focuses on the main elements at risk by the reform of
the sector, namely capacity investment, and how these risks are shared between
different actors for the most representative institutional arrangements in the
European urban water sector.
Keywords: urban water sector, reform, risk sharing, capacity investment,
institutional arrangements.
Keywords
urban water sector, reform, risk sharing, capacity investment,
institutional arrangements.
Related Book
Other papers in this volume
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