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26 July 2002
ORR/JNT/2002
Eight economic regulators have today issued their fourth annual statement on joint working on cross-industry issues.
The statement has been jointly published by:
- The Civil Aviation Authority (CAA)
- Office of Gas and Electricity Markets (Ofgem)
- Office of Telecommunications (Oftel)
- Office of Water Services (Ofwat)
- Office of the Rail Regulator (ORR)
- Postal Services Commission (Postcomm)
- Office for the Regulation of Electricity and Gas in Northern Ireland (OFREG)
- Water Industry Commissioner for Scotland
In the past year the regulators have met regularly to discuss common issues and to share best practice. The Director General of Fair Trading attends the meetings in recognition of the importance of the interplay between sectoral regulation and general competition policy.
Issues common to many of the regulators include those relating to the setting of price controls, such as the cost of capital and incentivising appropriate capital investment, and others such as optimal financial structures and the handling of business failure.
The regulators believe that their joint working and sharing of ideas and practice enhances rather than impinges upon their independence. The result is a more informed understanding of the issues which they face and better outcomes for consumers.
Regulators have continued to work jointly and effectively on issues in common and to share experiences that will contribute to more effective economic regulation.
Topics covered in the statement include:
- The National Audit Office report on the regulation of utility networks
- The Better Regulation Task Force report on economic regulators
- The Competition Act 1998
- Developing efficient regulatory organisations
- Effective communications with stakeholders
- Best practice in service delivery
- Approaches to price control
- Transition to competitive markets
- Proposals for common regulatory accounting principles
- Incorporating social and environmental issues into regulatory work
- Best practice in compiling and disseminating comparative price information.
For further information please contact:
Civil Aviation Authority (CAA): Chris Mason, 0207 453 6026
Office of Gas and Electricity Markets (Ofgem): Richard Hunt, 0207 901 7158
Office of Telecommunications (Oftel): 0207 634 8991
Office of Water Services (Ofwat): Peter Mandich, 0121 625 1416
Office of the Rail Regulator (ORR): Ian Cooke, 0207 282 2002
Postal Services Commission (Postcomm): Chris Webb, 0207 593 2114
Office for the Regulation of Electricity and Gas in Northern Ireland (OFREG): Nick Carson, 02891 275965
Water Industry Commissioner for Scotland: Katherine Russell, 01786 430237.
Note to Editors
The document is available here in PDF format. | 