Date post: | 17-Aug-2015 |
Category: |
Government & Nonprofit |
Upload: | european-commission |
View: | 120 times |
Download: | 4 times |
TransportTransport
State of Play and Preliminary Findings of the ERTMS Study to develop innovative solutions to
the financing of ERTMS
Stéphane Ouaki, Head of Unit Connecting Europe – Investment Strategy
TEN-T Days 201522 June 2015
TransportTransport
Estimating EU's infrastructure investment needs
Overall: €1.5 - 2 trn by 2020 to meet the policy goals of the
Europe 2020 Strategy for smart, sustainable and inclusive growth
Transport alone: €500 bn on TEN-T alone by 2020
Scarce resources for railways: EC identified a pipeline of 1208
rail projects requiring investments of €430 bn by 2030
This is in stark contrast with €24 bn available under CEF for
Transport sector after €2.2 bn contribution of CEF budget to EFSI
TransportTransport
Limited scope of EU grants available
6-fold oversubscription for ERTMS investments under 2014 CEF
Call for proposals: request for €1.1 bn out of available €200 M
Full deployment of ERTMS on the TEN-T core and comprehensive
networks is binding by 2030 and 2050
CEF grants - insufficient. How to make the most out of the
limited funding available?
Innovative financing offered by CEF is part of the solution
TransportTransport
Study on innovative financing of ERTMS
Objective: the development of market based financial solutions to
complement the use of CEF grants
How: development of realistic business models and schemes
to attract private finance to support the deployment of ERTMS:
1. On the ground, through PPP structures
2. On board, via national schemes in place at MSs level
3. On board and on the ground, defining TEN-T Corridor- specific business models
TransportTransport
Stakeholder engagement: market analysis
Infrastructure Managers Railway UndertakingsMember States
Survey
Interview
Survey
Interview/ dedicated workshop / meeting
Survey
Interview/ dedicated workshop / meeting
Additional interviews foreseen
+
Financial institutions
Manufacturers
Leasing companies
Rail Associations
> 60 stakeholders
TransportTransport
Forms of potential EU financial solutions
LGTT v2.0New guarantee covers all types of project risks for the whole life cycle of the project
'Swedish' SPV model for RUs
SPV provides grants for retrofitting rolling stock and receives revenues from a small increase in TACs that RUs pay to IMs
PPP + DTAC model for IMs
PPP provides grants to IMs for installing ERTMS trackside and receives revenues from a mark-up from RUs' increased international revenues as well as from DTACs that non-ERTMS compliant RUs pay to IMs
PPP schemesPPPs have proven to be effective on several occasions and could be further used with the EU support (e.g. through the LGTT v2.0 or contributing with grants)
Joint procurementFollowing the Danish example, joint procurement at national level can be leveraged to reduce unit costs and to support smaller operators with limited access to finance
TransportTransport
Corridor-level analysis
●● ● ●
●
●
● ●●●
●● ●
● ● ●● ● ●● ●
●● ●
●
ES
FR
IT
SI
HR
HU
Scope: analysis of business cases to map how / when / where EU financial support or country level schemes could support ERTMS deployment
Critical issues - timely coordination at all levels: between on-board and trackside implementation; within and across different countries and stakeholders involved; identification of mutual incentives for both trackside and on-board implementation
Corridor features: ERTMS deployment is impacted by the complexity, multiplicity and diversity of Corridor nature, the presence of bottlenecks affecting the benefits to be achieved, the different traffic flows on Corridor sections and alike
Drivers for business case: ERTMS trackside costs, capacity investments that could be avoided thanks to ERTMS deployment, costs to replace/renew the legacy systems, ERTMS on-board costs for vehicles using the Corridor, ERTMS-related benefits and savings
TransportTransport
Next Steps
•Continued development of financial instruments / schemes
•Oct 2015 - presentation of final outcomes of the Study
•Concrete project identification for the EIB to work on
We hope that you to come with good projects to utilise innovative
financing instruments / schemes
Thank you