Procurement and Financing of Motorways in Europe (eBook)

Giorgio Ragazzi, Werner Rothengatter (Herausgeber)

eBook Download: PDF

2005 | 1. Auflage
272 Seiten
Elsevier Science (Verlag)
978-0-08-046069-7 (ISBN)

Infos

This volume raises many challenging and controversial issues surrounding motorway procurement and finance in Europe. A somewhat surprising outcome is that a general appraisal bias can be identified in the following sense: Experts from countries which have introduced concession schemes for managing and financing of their motorways are very critical of these schemes, stressing their shortcomings and caveats. Some even conclude that public management under a regime of welfare maximisation would be desirable as a sustainable option. Experts from countries which have been sticking to public procurement and tax finance of motorways strongly attack the inefficiency of public planning regimes and the general tendency to allocate the revenues from special transport related taxes to the public budget, eventually spending them on other purposes rather than transport. A typical feature of the latter regime seems to be the chronic lack of funds for infrastructure investment.

Although a single ideal country concept for motorway procurement and finance obviously cannot be identified, every paper gives some insights into possible future improvements. Therefore, beyond the rich documentation of national solutions it is the perspective on workable future concepts which makes the book a valuable guide through the jungle of manifold options for public/private partnerships.

This book is a selection of papers presented to the international conference Highways: Costs and Regulation in Europe, held in Bergamo on the 26th - 27th of November 2004. The Conference was organised by the University of Bergamo, and sponsored by the European Investment Bank.

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This volume raises many challenging and controversial issues surrounding motorway procurement and finance in Europe. A somewhat surprising outcome is that a general appraisal bias can be identified in the following sense: Experts from countries which have introduced concession schemes for managing and financing of their motorways are very critical of these schemes, stressing their shortcomings and caveats. Some even conclude that public management under a regime of welfare maximisation would be desirable as a sustainable option. Experts from countries which have been sticking to public procurement and tax finance of motorways strongly attack the inefficiency of public planning regimes and the general tendency to allocate the revenues from special transport related taxes to the public budget, eventually spending them on other purposes rather than transport. A typical feature of the latter regime seems to be the chronic lack of funds for infrastructure investment. Although a single ideal country concept for motorway procurement and finance obviously cannot be identified, every paper gives some insights into possible future improvements. Therefore, beyond the rich documentation of national solutions it is the perspective on workable future concepts which makes the book a valuable guide through the jungle of manifold options for public/private partnerships. This book is a selection of papers presented to the international conference "e;Highways: Costs and Regulation in Europe"e;, held in Bergamo on the 26th - 27th of November 2004. The Conference was organised by the University of Bergamo, and sponsored by the European Investment Bank.

Inhalt

Cover 1
Procurement and Financing of Motorways in Europe 4
Contents 6
List of Contributors 10
Introduction 12
Notes 17
The Regulatory Issues of Transport Infrastructures, and of Toll Highways in Particular 18
A Summary of the Basic Theory 18
Regulation of Infrastructures 20
The Main Tools of Public Regulation 20
Privatization of the Assets 20
Competitive Tendering of Concessions (‘‘Demsetz Competition11’’) 21
Building and Operating Concessions (‘‘Project Financing’’) 21
Tariff Regulation 22
Yardstick Competition (‘‘Tournament’’) 22
Some Technical Examples of Regulatory Issues within the Infrastructure Sector 23
Congestion Charging and Allocative Efficiency in General 23
The ‘‘Minimal Efficient Dimension’’ Issue 24
Financial Issues 25
Further Price-Cap Problems: Patterns and Levels of Efficient Costs 26
The Regulation of Investments 27
The ‘‘Number of Tills’’ Problem 28
Conclusions 28
Notes 29
References 31
Analysis of Highway Concession in Europe* 32
Introduction 32
The Practice of Road Infrastructure Concession: Differences and Similarities between European Countries 33
The European Legal Framework Which Remains to be Supplemented 33
A Very Widespread Legal Instrument in Europe but Also Very Diversified 34
A Few Simple Ideas 39
Notes 44
References 45
Concessions Versus Network-Wide Tolling Schemes, The Community Framework for Motorway Tolling in Europe 46
Introduction 46
Motorway Concessions 47
General Characteristics 47
A Summary of Pros and Cons Concerning Concession Regimes 48
Network-Wide Tolling Regimes 49
From Time-based to Distance-based Tolls1 49
Community Framework For Road Charges 50
Directive 1999/62/EC 50
Directive 1999/62 EC Revised 54
Conclusions 56
Notes 57
References 57
Tolls and Project Financing: A Critical View 58
Introduction 58
Average Cost Pricing 59
Efficiency 60
Private or Public? 62
Road Traffic Taxation 64
Taxing for Congestion 66
Conclusions 68
Notes 69
References 70
Applying a Price Cap: Rab and Regulatory Accounting 72
Foreword 72
On the Price Cap in General 72
A Note On Italy 74
Definition of Costs 75
Collecting the Data 76
Components of Recognised Cost: the Operating Costs 77
Components of Recognised Cost: the Capital Costs 78
The Rate of Return on Assets 78
Costs and Tariffs in Time 79
Cross Subsidies 81
Liberalise Tariffs? 82
Trans-European Networks: EU Infrastructure Proposals 84
Introduction 84
The Policy in the European Union and Transport 84
The Principal Measures Proposed by the 2001 White Paper 87
The Need for Infrastructure 88
Future Development 89
Motorways and Motorway Finance in Germany and Austria 92
Introduction 92
History of Motorway Construction in Germany and Austria 93
History of Road Finance and Contributions of Road Users to the Public Budget 94
Germany 94
Austria 97
Plans for the Future Development of the Motorway Networks and their Finance 98
Germany 98
Federal Transport Infrastructure Investment Plan 98
Financial Instruments 99
Austria 100
Principles of Charging and Charging Schemes 100
Preliminaries 100
Existing Legacy: Directive 1999/62 EG and Planned Revision 101
Principles of Charging and Cost Account 102
Technology of the Payment System in Germany 103
Charging Principles and Charging Scheme in Austria 104
Experience and Expected Impacts from Charging Road Use 105
Switzerland and Austria 105
Germany 106
Planned Institutional Changes and Conclusions 107
Notes 107
References 108
French Motorways: Experience and Assessment* 110
The French Road Network 110
Traffic and Length 111
Financial Aspects 112
History of the Motorways Network1 114
1955–1969: A Commitment to Tolls with Public Companies 114
1970–1981: Liberalization and Privatization. Emergence of Cross-Subsidies 115
1982–1994: Facing the Crisis, a Nationwide Mechanism of Consolidation Network 116
1994–2000: Contract Procurement and Consolidation inside the Public Sector, Extension of Tolls in Urban Areas 116
Since 2000: Extension of Privatization and Commercial Management 117
Now and After? 118
The Future? 118
Notes 122
Public Private Partnerships in the Irish Roads Sector: an Economic Analysis 124
Introduction 124
Background: Ireland’s Infrastructure Deficit and the National Development Plan 125
Ireland’s Road Investment Programme 125
Public Private Partnerships and the National Roads Programme 126
Analysing Public Private Partnerships 127
Context for Examination – Economics of Contracting and PPPs 128
Economic Criteria for Examining PPPs 129
Competition for the Market 129
Efficiency and Value for Money 129
Risk Allocation 129
Innovation 130
Rent Extraction and Re-financing 130
Analysing Ireland’s Roads PPPs 130
Speed of Delivery 130
Value for Money 132
Competition for Contracts 132
Risk Transfer 133
Innovation 134
Evidence of Value for Money 134
Rent Extraction/Re-Financing 135
Conclusions 135
References 137
History and Regulation of Italian Highways Concessionaires 138
Development of the Italian Highways Network: A Short History 138
The Privatization of Autostrade Spa 140
The Present Situation of the Network 141
Regulation 143
ANAS: Player and Regulator 143
Renewal and Extension of Concessions 144
The Price Cap 145
Tariff Policy and European Directives 148
Notes 149
References 150
The Concession Through a Bid – The New Brescia–Milan Highway: a Case Study 152
Introduction 152
The Concession 153
Bid Procedure (According to the Concedent Interpretation – Auction Versus Negotiation) 154
Quantitative and Qualitative Parameters Adopted for the Evaluation 154
Bid Results: Consequences on the Clients and the Community, on the Grantor, and on the Concessionaire 156
Specific Problems 159
Project Modifications after the Bid 159
Grantor and Planning Institution Role 159
Local Planning and Pricing 160
Financing Motorways in Poland 162
Introduction 162
Brief History of Motorway Development in Poland 163
Present Situation of Motorway Development 163
Experiences – Different Schemes of Financing 164
Plans for the Future – The Role of EU Funds 169
Conclusions 172
References 172
Portuguese Experience in Motorway Concessions with Real and Shadow Tolls 174
Introduction 174
Early Stages: Brisa 174
The Second Tagus Bridge (Vasco Da Gama Bridge) 176
Public-Private Partnerships for Motorways Since 1996 177
National Road Plans and their Execution as Framework for the Policy 177
Motorways with Real Tolls 178
The SCUT (Shadow Toll) Programme: General Description 179
Justification Presented by Government for the Introduction of the SCUT Concessions 180
Characterisation of the Burden for the State in the SCUT Concessions 182
Socioeconomic Evaluation of the SCUT Programme 182
Current Status of the National Motorway Network 184
Evolution After the Fall of the Government Responsible for the Launch of Shadow Toll Motorway Concessions 184
Conclusions 188
Notes 190
References 190
Financing and Regulating Highway Construction in Scandinavia – Experiences and Perspectives 192
Introduction 192
Population 193
Highway and Motorway Investments 194
Denmark 194
The Highway Network 194
The Mega Toll-Financed Projects: The Great Links of the Great Belt, Øresund and Fehmarn Belt1 194
The Great Belt Bridge 195
The Øresund Landworks 195
The Øresund Bridge 196
Fehmarn Belt 196
Norway 196
The Highway Network 196
Sweden 198
The Highway Network 198
The Framework for Road Planning and Funding 199
General Aspects/Comments 199
A Few Experiences from Norwegian Road Tolling 201
PPPs in Norway – Opportunities and Experiences 201
Notes 203
References 203
Is a Mixed Funding Model for the Highway Network Sustainable Over Time? The Spanish Case 204
Introduction 204
History of Toll Motorways in Spain: Promises and Results 205
Motorways in Southern Europe: Tolls versus General Taxation? 206
Changing Models Since the 1980s: From User Tolls to Public Budget 207
Current Structure and Regulation of the Toll Motorway Business in Spain 210
Motorway Sector Structure 210
Motorway Regulation: Institutions and Rules 215
Is it Possible to Homogenize the Motorway Financing Model in Spain? 217
Notes 219
Acknowledgments 220
References 220
Pricing and Financing Transport Infrastructures in Switzerland. A success story? 222
Introduction 222
The Swiss Financing and Regulation Scheme Until 2001 223
EU–Switzerland and the Emergence of the Transalpine Freight Problem 225
The Present Pricing Regime and the Target of SWISS Transport Policy 226
Conclusions 228
Notes 229
References 230
Financing Roads in Great Britain 232
Introduction 232
Implications for Procurement of Roads 234
Roads Policy Under the Major Government (1992–1997) 236
The History of DBFO Payment Mechanisms1 238
National Audit Office Review of the First Four DBFOs 241
Since 2000 242
Notes 245
References 245
The Private Finance Initiative: The UK Experience 248
Introduction 248
Accounting Issues and the Size of Public Debt 250
Additional Investment? 251
Risk Transfer 252
The Pricing of Risk 253
It is ’Risk’ Effectively Transferred from Public Sector to Private Sector 254
Is There a Net Change in the Amount of Risk? 255
Cost of Finance 256
Efficiency Gains? 258
Conclusions 261
References 261

Produkt-Details

• Erscheint lt. Verlag: 2.12.2005
• Sprache: englisch
• Themenwelt: Sachbuch/Ratgeber ► Natur / Technik ► Fahrzeuge / Flugzeuge / Schiffe
• Themenwelt: Naturwissenschaften ► Geowissenschaften ► Geografie / Kartografie
• Themenwelt: Technik ► Bauwesen
• Themenwelt: Technik ► Fahrzeugbau / Schiffbau
• Themenwelt: Wirtschaft
• ISBN-10: 0-08-046069-0 / 0080460690
• ISBN-13: 978-0-08-046069-7 / 9780080460697