EFRAG announces the new composition of its Rate-regulated Activities Working Group

​In its January 2020 meeting, the EFRAG TEG approved the new composition of the Rate-regulated Activities Working Group​ (EFRAG RRAWG).

For entities involved in rate-regulated activities – including gas, electricity, water utilities and potentially other activities outside of the utility sector– regulatory authorities say how much and when entities can charge their customers for goods or services provided, which can have significant effects on an entity's financial performance and position. Many argue that the information reported by IFRS reporting entities do not fully capture these effects.

The EFRAG RRAWG plays an important role in contributing accounting and industry expertise to the EFRAG TEG, on specific aspects of European rate-regulated industry sectors.

EFRAG's call for candidates resulted in several high-quality applications. The new composition of the EFRAG RRAWG was determined based on applicants' expertise and experience and aimed to reflect a balance of professional backgrounds and geographical origin.

EFRAG TEG Chairwoman, Chiara Del Prete welcomed the new members of the EFRAG RRA WG, and said " I look forward to the input and expertise the new members will bring to our working group. I thank Phil Aspin for his excellent leadership and industry experience and thank Gerard van Santen for assuming this important role”.

Gerard van Santen has been appointed as new Chair of EFRAG Rate-regulated Activities Working Group, following the decision of Phil Aspin to step down.

The new composition of the EFRAG RRAWG members, effective as of 1 February 2020, is as follows:

* Newly appointed members.

** Observer

The European Commission and the European Securities and Markets Authority (ESMA) have been granted observer status. ​