March 2019
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The seminar took place as the National Infrastructure Commission (NIC) is considering submissions to its review of the regulatory regime for utilities.
The review is being conducted at the behest of the Chancellor in order to develop models that can better deliver increased levels of investment in innovation and infrastructure, whilst protecting value for consumers.
The conference provided an opportunity to gain insight on the progress of the review and initial thinking on the consultation responses, as well as to feed into discussion on the future shape of UK utilities regulation landscape.
Delegates considered how best to reform regulatory systems so to achieve the aim of incentivising the long-term investment in innovation and infrastructure needed to meet the challenges of evolving technology and climate change.
There was also discussion on possible tensions between any such changes to regulatory focus and the established drive for highly competitive supply markets that are responsive to consumer concerns and focused on low prices.
Those attending also examined the options for the future shape of the regulatory models - including a potential new single ‘super-regulator’ for utilities in order to deliver greater collaboration in areas such as data sharing, addressing cross-cutting policy issues and major infrastructure projects - and implications for the roles of Ofcom, Ofwat and Ofgem.
Keynote discussion brought out latest thinking on how the concurrency regime is working in supporting effectiveness, coordination and collaboration between sector regulators.
The conference also followed publication of the recent CMA ‘loyalty penalty’ study which made recommendations to tackle concerns that existing customers in the mobile phone and broadband markets are being penalised by being charged higher prices than new customers following a super complaint by Citizens Advice.
Delegates discussed the CMA’s recommendations which include regulators using enforcement powers to tackle harmful practices and the introduction of a targeted price cap for those that are worst hit.
Following the collapse of a number of energy providers, there was also discussion around Ofgem’s review of licensing arrangements focused on financial resilience and protecting customer service.
Further sessions discussed how to ensure any regulatory system protects vulnerable consumers, with focus on next steps following recommendations made in the NAO’s Vulnerable consumers in regulated industries report and concerns around growing consumer debts owed to utility companies, and the introduction of a price cap in the energy market.
