We are experts in the regulation of electricity, gas, telecoms and water companies by ‘economic regulators’ such as Ofgem, Ofwat and Ofcom. These regulators aim to protect consumers and deliver government policy objectives in the markets they regulate. We have provided advice on high-profile issues in this area for over 30 years.
The “economic regulation” model has expanded beyond utility regulation to include sectors such as payment systems, and there continues to be a debate on extending the model to the technology sector.
New and disruptive business models are presenting challenges to policymakers and regulators. Established frameworks of regulation are under pressure to evolve in response to contemporary challenges such as climate change, digitalisation and rebuilding customer trust.
Our economic regulation expertise is market leading, led by recognised leaders in the energy, water and telecoms industries. We have one of the largest dedicated practice groups in the field, and our clients benefit from a truly cross-sectoral team with global experience.
Enforcement, appeals and regulatory strategy: advising on regulatory enforcement for both regulators and regulated businesses – from wide-ranging and complex market investigations to discrete enforcement action and the pursuit of appeals against regulatory decisions.
Market design, policy and reforms: leading the way on the design of new market arrangements, particularly in the water and energy sectors for regulators and regulated businesses.
Price controls: advising regulators and regulated businesses on price control – providing strategic advice on interacting with regulators through the price control process.
- We have advised on every major electricity market reform since privatisation in Great Britain. We have also advised the Single Electricity Market Committee on the Island of Ireland on the design and implementation of I-SEM reforms. We also advise globally – including the Energy Market Authority of Singapore.
- We worked with the Water Industry Commission for Scotland to develop and deliver the legal framework for the world’s first competitive retail market for business water services. We were then engaged by the Open Water project to do the same for England.
- We advised on the UK Competition and Market Authority’s Energy Market Investigation – the most complex and wide-ranging market investigation ever undertaken by the CMA.
- We advised on the appeals to the CMA against the RIIO-T2 transmission price control decisions.