The National Infrastructure Commission has begun a study of regulation of the UK’s energy, telecoms and water industries. The NOC said the study would examine how the regulation could ”ensure the necessary levels of investment and innovation whilst these critical services are kept affordable for everyone”.
The study is expected to examine:
- What changes will affect the regulated sectors: following the National Infrastructure Assessment, which looks at the path to 2050, it will aim to set out the key drivers of change over the coming decades
- Whether the regulatory model encourages appropriate, sufficient competition and innovation to support efficient delivery of infrastructure
- How regulators work together and collaborate on cross-cutting challenges and significant infrastructure projects
- How government can deliver its objectives in these sectors, while safeguarding the independence of the regulators
Chairman of the National Infrastructure Commission Sir John Armitt said: “The regulators are vital in ensuring we as consumers are treated fairly. But if the UK is to be a world leader in the latest technologies, we need a system of regulation that allows companies to be innovative, without being penalised for it.
“Our new study will examine how to strike the right balance and how companies and regulators alike can be ready to adapt to changes in future, while at the same time keeping bills affordable and protecting vulnerable customers.”
The NIC will report on the Regulation study in Spring 2019. More details here.