We are proud to announce that a report co-authored by TDB Director Phil Barry and ex-TDBer Dr Tom Stannard (now at Otago University’s Accountancy and Finance Department) was recently named co-winner of the NZX Research Report of the Year at the INFINZ Awards 2025. Congratulations to Phil and Tom for this outstanding achievement.

We would like to thank the clients who funded the original research, former TDB associate Ian Dickson who helped design the original framework, and the judges and to acknowledge the other very worthy nominees for the award.

At TDB Advisory we always aim to provide rigorous high-quality research and analysis. This paper really raised the bar. The findings from the paper are relevant to other regional network activities like three waters and natural gas reticulation where exaggerated claims are sometimes made about economies of scale without regard to the technological or geographic characteristics of the industry.

For more information on the report, see here.