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17 October 2017

Cyber Security series: Oil and Gas industry not immune to risk

John Hinchcliffe, cyber security specialist Cyber security has had a lot of media airtime recently – none more so than the recent Wannacry and Petya malware attacks that impacted businesses and organisations worldwide, including our own NHS. Cyber security risks aren’t limited to malware; attacks on supply chains are increasing...

25 August 2017

How can water companies deliver more value to society under PR19?

By Will Evison, Oliver Willmott and Nicky Fomes Context: Northumbrian Water have launched their first major impact report, ‘Our Contribution’. They opted to use PwC’s Total Impact Measurement and Management approach, and we also provided expert advice to support their important efforts. To operate successfully, water companies are highly dependent...

19 July 2017

PwC indepth analysis on 'raising the bar' - Ofwat PR19 Draft Methodology

The water industry has now had an opportunity to consider Ofwat’s draft methodology for the next water industry price review (PR19). While the ask of water and sewerage firms is clearer, many companies will find it a much more challenging price control process than before - even Ofwat has acknowledged...

12 July 2017

Ofwat raises the bar with its draft methodology

By Stuart Cook, Hettie Farrell and Nick Forrest Ofwat has published its draft methodology for the next water industry price review (PR19), providing the clearest indication yet of what it expects from the industry, and laying the foundation for the development of company business plans. In doing so, the regulator...

03 July 2017

Is the energy industry ready for Brexit?

By Stuart Cook, head of Utility Strategy & Regulation and Volker Beckers, PwC advisory board member for Energy The Brexit negotiations have begun. Although the discussions have got off to a “promising start”, both sides recognise the complexity of the work ahead. To date, the focus of attention has been...

30 June 2017

Are utilities, investors and regulators prepared for the low carbon transition?

By Jonathan Grant Jonathan Grant comments on a discussion between energy utilities, investors and regulators about long term planning that we hosted with Preventable Surprises last month. Once a dependably boring part of investor portfolios, energy utilities are undergoing a rapid transition driven by technological innovation and shifts in the...

23 May 2017

The nuances of input VAT recovery

by Prem Mehta, senior manager - indirect tax and Prinal Nathwani, manager -tax disputes Central to the operation of the VAT system is the fundamental principle that a fully taxable business has the right to recover the VAT that it incurs. In short, it should not have to face the...

31 March 2017

Capital investment is key to UKCS recovery

By Alan McCrae Recent musings in the UK Oil & Gas industry have suggested that there are some green shoots of a limited recovery popping up. Indeed Oil & Gas UK’s (OGUK) 2017 Business Outlook, released last month, certainly supports that view - large scale improvements in cost efficiency and...

24 February 2017

Cautious Optimism - the way forward for the global oil & gas industry

By Kevin Reynard On Tuesday, 21 Feb 2017, I had the great pleasure to speak at International Petroleum (IP) Week which is one of the flagship events on the oil and gas conference circuit. Many of the leading companies and industry bodies in the sector are there and it is...

09 December 2016

The Connected Home: Is It Anyone’s Game?

By Steve Jennings & Jonathan Scott Our work on the Connected Home has identified 10 different developments that likely represent the practical reality of the future of the connected home. Today we launch our thinking on the final five developments we have identified.[1] These developments are the 10 kinds of...