37
Total Assets
28
Assets with RAB
£327.0B
Total RAB
RAB by Sector
| Sector | Assets | Total RAB | Average RAB |
|---|---|---|---|
| Transport | 5 | £130.0B | £65.0B |
| Water | 13 | £121.6B | £10.1B |
| Energy | 18 | £75.4B | £5.4B |
| Telecom | 1 | N/A | N/A |
Individual Asset Profiles
| Asset | Sector | Sub-Type | RAB | Revenue | Owner | Region |
|---|---|---|---|---|---|---|
| Network Rail | transport | rail_infrastructure | £65.0B | N/A | Network Rail Infrastructure Limited (public) | Great Britain |
| Network Rail | transport | rail_infrastructure | £65.0B | N/A | Network Rail Infrastructure Limited (public) | Great Britain |
| Thames Water | water | water_and_sewerage | £18.7B | N/A | Kemble Water Holdings | London, Thames Valley, Surrey, parts of surrounding counties |
| Thames Water | water | water_and_sewerage | £18.7B | N/A | Kemble Water Holdings | London, Thames Valley, Surrey, parts of surrounding counties |
| National Grid Electricity Transmission (NGET) | energy | electricity_transmission | £15.5B | N/A | National Grid plc | England & Wales |
| United Utilities | water | water_and_sewerage | £12.0B | N/A | United Utilities Group PLC | North West England |
| United Utilities | water | water_and_sewerage | £12.0B | N/A | United Utilities Group PLC | North West England |
| Severn Trent Water | water | water_and_sewerage | £10.5B | N/A | Severn Trent Plc | Midlands, Mid Wales |
| Severn Trent Water | water | water_and_sewerage | £10.5B | N/A | Severn Trent Plc | Midlands, Mid Wales |
| UK Power Networks (UKPN) | energy | electricity_distribution | £8.9B | N/A | CK Infrastructure / Power Assets Holdings | South East England, East England, London |
| Anglian Water | water | water_and_sewerage | £8.2B | N/A | Anglian Water Group | East England |
| Anglian Water | water | water_and_sewerage | £8.2B | N/A | Anglian Water Group | East England |
| Cadent Gas | energy | gas_distribution | £7.8B | N/A | Cadent Gas Limited | North West, West Midlands, East England, North London |
| Western Power Distribution (National Grid ED) | energy | electricity_distribution | £7.5B | N/A | National Grid plc | Midlands, South West, South Wales |
| Yorkshire Water | water | water_and_sewerage | £6.1B | N/A | Kelda Group | Yorkshire |
| Yorkshire Water | water | water_and_sewerage | £6.1B | N/A | Kelda Group | Yorkshire |
| National Grid Gas Transmission (NGGT) | energy | gas_transmission | £5.8B | N/A | National Grid plc | Great Britain |
| Southern Water | water | water_and_sewerage | £5.3B | N/A | Macquarie Asset Management | Hampshire, Isle of Wight, West Sussex, Kent, parts of Surrey & Berkshire |
| Southern Water | water | water_and_sewerage | £5.3B | N/A | Macquarie Asset Management | Hampshire, Isle of Wight, West Sussex, Kent, parts of Surrey & Berkshire |
| SGN (Scotia Gas Networks) | energy | gas_distribution | £4.8B | N/A | SGN | Scotland, South East England |
| SSEN Transmission | energy | electricity_transmission | £4.5B | N/A | SSE plc | North Scotland |
| Scottish & Southern Electricity Networks (SSEN) | energy | electricity_distribution | £4.2B | N/A | SSE plc | North Scotland, Southern England |
| Northern Powergrid | energy | electricity_distribution | £3.8B | N/A | Berkshire Hathaway Energy | North East England, Yorkshire |
| SP Energy Networks | energy | electricity_distribution | £3.2B | N/A | Iberdrola / ScottishPower | Central & Southern Scotland, Merseyside, North Wales |
| SP Transmission | energy | electricity_transmission | £3.0B | N/A | Iberdrola / ScottishPower | Central & Southern Scotland |
| Electricity North West (ENWL) | energy | electricity_distribution | £2.4B | N/A | Electricity North West Limited | North West England |
| Wales & West Utilities (WWU) | energy | gas_distribution | £2.1B | N/A | Wales & West Utilities | Wales, South West England |
| Northern Gas Networks (NGN) | energy | gas_distribution | £1.9B | N/A | Northern Gas Networks | North East England, North Cumbria |
| Sorek B Desalination Plant | water | desalination | N/A | N/A | IDE Technologies | Sorek, Israel |
| Hassyan Clean Coal Power Plant | energy | coal | N/A | N/A | DEWA / ACWA Power / Harbin Electric | Dubai, UAE |
| Jio Platforms (India Telecom) | telecom | mobile | N/A | N/A | Reliance Industries / Jio | India (nationwide) |
| Noor-Ouarzazate Solar Complex | energy | solar | N/A | N/A | MASEN / ACWA Power | Ouarzazate, Morocco |
| Bhadla Solar Park | energy | solar | N/A | N/A | Multiple sponsors (Adani, SB Energy, etc.) | Rajasthan, India |
| Medupi Power Station | energy | coal | N/A | N/A | Eskom | Limpopo, South Africa |
| Istanbul New Airport | transport | airport | N/A | N/A | IGA (Cengiz-Kolin-Limak-Mapa-Kalyon JV) | Istanbul, Turkey |
| Lima Metro Line 2 | transport | rail | N/A | N/A | Sociedad Concesionaria Metro de Lima Línea 2 | Lima, Peru |
| Ruta del Sol II (Colombia) | transport | toll_road | N/A | N/A | Yuma Concesionaria | Colombia |
Ownership Mapping
| Owner | Assets | Total RAB |
|---|---|---|
| Network Rail Infrastructure Limited (public) | 2 | £130.0B |
| Kemble Water Holdings | 2 | £37.4B |
| National Grid plc | 3 | £28.8B |
| United Utilities Group PLC | 2 | £24.0B |
| Severn Trent Plc | 2 | £21.0B |
| Anglian Water Group | 2 | £16.4B |
| Kelda Group | 2 | £12.2B |
| Macquarie Asset Management | 2 | £10.6B |
| CK Infrastructure / Power Assets Holdings | 1 | £8.9B |
| SSE plc | 2 | £8.7B |
| Cadent Gas Limited | 1 | £7.8B |
| Iberdrola / ScottishPower | 2 | £6.2B |
| SGN | 1 | £4.8B |
| Berkshire Hathaway Energy | 1 | £3.8B |
| Electricity North West Limited | 1 | £2.4B |
Investment Implications
UK regulated infrastructure offers predictable, inflation-linked returns underpinned by the RAB model. Key considerations for infrastructure fund investors:
Water Sector
Dominates by RAB value, offering stable cash flows under Ofwat regulation
Energy Networks
Essential transmission/distribution infrastructure with long-dated asset lives
Transport Assets
Growth potential linked to passenger volumes and capacity expansion
Telecom Infrastructure
Growing digital infrastructure investment opportunity
Methodology
Data sourced from UK regulatory filings (Ofwat, Ofgem, ORR, Ofcom), company accounts, and public disclosures. RAB values represent the most recently published regulatory asset base figures. Revenue figures are annual as reported.
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