Symposium on regulation and competition in utility industries: Introduction

Abstract

This collection of papers examines regulation and competition issues in the UK water, gas and electricity industries. These are three vitally important network industries that have undergone significant structural change over the last 15 years and where efforts to extend competition continue in those parts of the industries not deemed to be naturally monopolistic. This is a timely collection, given recent price reviews of the electricity distribution and water companies and the current Transco review. Further, current regulatory issues, such as implementation of the 2000 Utilities Act and the possible structural changes to water companies as some attempt to move away from the equity model, have far-reaching implications. A significant length of time has elapsed since the burst of privatisation activity in the 1980s, and most companies have been subject to two price reviews. As such, it is an appropriate time to reflect on the UK experience from which lessons are being drawn as regulatory regimes are designed and implemented around the world.