The VTI National Transport Library Catalogue

Public-private partnerships : the international experience Michel, Henry et al

By: Michel, HenryPublication details: Transportation Research Board, 2001; Conference proceedings 24, Description: nr 24, s. 59-66Subject(s): USA | Conference | Transport | Financing | Transport network | Partnership | Performance | Contract | Australia | United Kingdom | 02 | J13Bibl.nr: VTI P9000:24Location: Abstract: Overseas, as in the United States, early planning and a rigorous analysis of a proposed project's economics are essential. In reviewing troubled projects, one invariably finds that investment decisions were made before anyone asked the really tough questions. The use of public-private partnerships in the United Kingdom dates back to the Private Finance Initiative in 1994 and carries on today. However, tolls are virtually unheard of in the United Kingdom; instead, project sponsors typically rely on shadow tolls, through which the government pays a private operator a fee on a per-vehicle basis. It is estimated that these partnerships afford cost savings of 12% to 17%, although technological innovation introduced through partnering with the private sector has yet to meet expectations. Similar partnering efforts in Australia are producing good results as well, with measurable benefits achieved both through reduced operating cost and improved customer service. The state of Victoria's rail and transit system is now managed under a performance-based operating contract that has yielded a substantial reduction in aggregate subsidies. It will also reduce the prevalence of fixed subsidies in favor of variable performance payments.
Item type: Reports, conferences, monographs
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Overseas, as in the United States, early planning and a rigorous analysis of a proposed project's economics are essential. In reviewing troubled projects, one invariably finds that investment decisions were made before anyone asked the really tough questions. The use of public-private partnerships in the United Kingdom dates back to the Private Finance Initiative in 1994 and carries on today. However, tolls are virtually unheard of in the United Kingdom; instead, project sponsors typically rely on shadow tolls, through which the government pays a private operator a fee on a per-vehicle basis. It is estimated that these partnerships afford cost savings of 12% to 17%, although technological innovation introduced through partnering with the private sector has yet to meet expectations. Similar partnering efforts in Australia are producing good results as well, with measurable benefits achieved both through reduced operating cost and improved customer service. The state of Victoria's rail and transit system is now managed under a performance-based operating contract that has yielded a substantial reduction in aggregate subsidies. It will also reduce the prevalence of fixed subsidies in favor of variable performance payments.

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