Division E.1.2 Main elements and parameters used in the CBA for financial analysis (all values in euro)

United Kingdom

	Main elements and parameters	Value Not discounted	Value Discounted (Net Present Value)	Reference to CBA document(chapter/section/page)
Preferably in real terms.
In the meaning of Article 17 of Commission Delegated Regulation (EU) No 480/2014.
F1This does not apply: (1) for projects subject to the rules on State aids in the meaning of Article 107 of the Treaty (see point (G1), pursuant to Article 61(8) of Regulation (EU) No 1303/2013; (2) if flat rate (Article 61(3)(a) and Article 61(3)(aa) of Regulation (EU) No 1303/2013) or decreased co financing rate (Article 61(5) of Regulation (EU) No 1303/2013) is used; and (3) if the sum of the present values of operating and replacement costs are higher than the present value of revenues the project is not considered as revenue generating, in which case items 7 and 8 can be ignored and pro rata application of discounted net revenue should be set at 100 %.
* Where VAT is recoverable, the costs and revenues should be based on figures excluding VAT.
	Main elements and parameters	Value
1	Reference period (years)	<type='N' input='M'>
2	Financial discount rate (%)^f2	<type='P' input='M'>
3	Total investment cost excluding contingencies	<type='N' input='M'>	<type='N' input='M'>	< type='S' maxlength='500' input='M'>
4	Residual value	<type='N' input='M'>	<type='N' input='M'>	< type='S' maxlength='500' input='M'>
5	Revenues		<type='N' input='M'>	< type='S' maxlength='500' input='M'>
6	Operating and replacement costs^f3		<type='N' input='M'>	< type='S' maxlength='500' input='M'>
Pro-rata application of discounted net revenue ^f4
7	Net revenue = revenues – operating and replacement costs + residual value = (5) – (6) + (4)		<type='N' input='G'>	< type='S' maxlength='500' input='M'>
8	Total investment cost – net revenue = (3) – (7)		<type='N' input='G'>	< type='S' maxlength='500' input='M'>
9	Pro-rata application of discounted net revenue (%) = (8)/(3)	<type='P' input='G'>		< type='S' maxlength='500' input='M'>

Annotations

Textual amendments

F1: Substituted by Commission Implementing Regulation (EU) 2019/256 of 13 February 2019 amending Implementing Regulation (EU) 2015/207 with regard to changes to the models for submission of the information on a major project, for the joint action plan, for the implementation reports for the Investment for growth and jobs goal and for the European territorial cooperation goal and correcting that Regulation with regard to data for the purpose of the performance review and performance framework.

Footnotes

f1: All figures must correspond to CBA document. CBA should be drafted in Euro or local currency with the exchange rate clearly indicated.
f2: Preferably in real terms.
f3: In the meaning of Article 17 of Commission Delegated Regulation (EU) No 480/2014.
f4: This does not apply: (1) for projects subject to the rules on State aids in the meaning of Article 107 of the Treaty (see point (G1), pursuant to Article 61(8) of Regulation (EU) No 1303/2013; (2) if flat rate (Article 61(3)(a) and Article 61(3)(aa) of Regulation (EU) No 1303/2013) or decreased co financing rate (Article 61(5) of Regulation (EU) No 1303/2013) is used; and (3) if the sum of the present values of operating and replacement costs are higher than the present value of revenues the project is not considered as revenue generating, in which case items 7 and 8 can be ignored and pro rata application of discounted net revenue should be set at 100 %.