BEREC Regulatory Accounting in Practice Report 2025

This is the 21st RA annual report which summarises the findings of a detailed survey of regulatory accounting systems in the context of access markets across Europe. Information has been gath-ered from National Regulatory Authorities (NRAs) and covers the implementation of regulatory cost accounting methodologies in national markets. It includes the state of play in terms of remedies of market regulation and focuses on price control, and the way in which it is defined in practice. The report also provides (i) certain structural parameters of each country, (ii) WACC methodologies ap-plied by NRAs and WACC values currently in force focusing on the implementation of the corresponding European Commission WACC Notice on the calculation of the cost of capital for legacy infrastructure.

The document offers an up-to-date factual report on the regulatory accounting frameworks implemented by NRAs and an assessment of the level of consistency achieved. Where possible, trends and comparisons with data collected in the past years are illustrated.