UK energy company RWE npower commissioned a NERA team led by Director Sean Gammons and Senior Consultant Richard Druce to conduct an independent review of the latest proposals for reform in the context of Project TransmiT, Ofgem’s fundamental review of electricity transmission charging and access arrangements in Great Britain. In this report, Mr. Gammons and Mr. Druce review Ofgem’s latest Project TransmiT consultation document, which contains Ofgem’s initial assessment of three charging models for the British electricity transmission network. The report appraises Ofgem’s proposals to rule out socialized transmission charging, provides a detailed appraisal of the “improved ICRP” charging regime, and examines other considerations regarding the case for changing the transmission charging regime.