More certainty and shorter timelines are important, but the most important thing is to establish a regulatory process that accurately and effectively brings in the input from the applicant as well as the various stakeholders, deals with it efficiently, and is known and certain to the applicant in advance. The outcome is a function of the process and is up to the regulator, but the certainty of the process is what's important for investment decisions.
On February 15th, 2011. See this statement in context.