JISC has released Modelling Scholarly Communication Options: Costs and Benefits for Universities.
Here's an excerpt from the announcement (announcement includes podcast):
The key findings from the report show
- The annual savings in research and library costs of a university repository model combined with subscription publishing could range from £100,000 to £1,320,000
- Moving from Open Access journals and subscription-funding to per-article Open Access journal funding has the potential to achieve savings for universities between £620,000 per year and £1,700,000 per year if the article-processing charge is set at £500 or less
- Savings from a change away from subscription-funding to per-article Open Access journal funding were estimated to be between £170,000 and £1,365,000 per year for three out of the four universities studied when the article-processing charge is £1000 per article or less
- For the remaining university in the study a move from subscription-funding to the per-article Open Access journal funding saw the university having to pay £1.86m more in this scenario
See also the related documents: How to Build a Case for University Policies and Practices in Support of Open Access and Publishing Research Papers Which Policy Will Deliver Best Value for Your University?.