ComentáriosConstataçõesPerspectivasExplicativos
Tema
Infrastructure
25 textos
Textos
- ExplicativoInfrastructure
What a revenue pledge is and what it does not promise
A revenue pledge hands bondholders one named stream of money and shuts them out of everything else. By the end you will know the order the money leaves the account, the covenant that keeps the stream large enough, and the risks the pledge quietly leaves with the public.
- ExplicativoInfrastructure
What contingency in a capital budget is for
Contingency is neither padding nor a slush fund. By the end you will know what it is sized against, who is allowed to release it, and why a budget with none in it is not a cheaper budget.
- ComentárioInfrastructure
Three flat years of housing starts is a result, not a pause
Starts have run at 1.42, 1.37 and 1.36 million units since 2023, below where the window opened in 2020. The dollars going into construction rose through the same period, and the dollars are what gets quoted.
- ExplicativoInfrastructure
What a cost overrun is measured against
An overrun is a comparison, and the figure it is compared with usually goes unstated. By the end you will know which baselines are in use, and why the same project can be on budget and over budget at once.
- ExplicativoInfrastructure
What an availability payment is and what it buys
In an availability-payment concession a government pays a private partner a fixed sum for keeping an asset open and working, whether or not anybody uses it. By the end you will know who carries demand risk, what the payment covers in the decades after construction ends, and the one clause that gives the public any leverage.