In a previous employment, Franck Latrémolière advised Ofwat on cost of capital issues in the 2004 review (until leaving his previous employer in April 2004).
He was responsible for co-ordinating the work of the two consultancy firms that had joined forces to advise Ofwat. He personally led the analysis on the academic literature on asset pricing models, embedded debt, small company premium, and some issues related to the treatment of taxation and the interest tax shield.
NB: Ofwat has subsequently published extracts from the advice that it had received. Franck Latrémolière had no involvement in the selection of these extracts.