Ten years on, it is important to evaluate the extent to which these Guiding Principles have been followed to produce concrete reforms and whether or not these reforms have been successful at “delivering results”. Box 3.1 below gives a summary overview of the main principles. According to EBRD (2010), key challenges include improvements in the technical, operational and financial performance of utilities, the rehabilitation of physical infrastructure, the clear separation of operating companies from regulatory bodies and the establishment of sound regulation.