A little over two years has passed since the International Accounting Standards Board (IASB) published IFRS 16 Leases, the new lease accounting standard, with the headline change being that operating leases would come on balance sheet for lessees. Many utility companies have already invested considerable time getting ready for the implementation of this new standard, uncovering both technical accounting and practical challenges along the way. However, a number of issues have emerged, which companies will need to address by the time the standard becomes effective for periods commencing in 2019.