UK experience of utility regulation since 2003 and outlook

Regulatory practice continues to be criticised and challenged. Issues which were concerning Government, regulators, companies and consumers in 2003 are, in many respects, still unresolved. There is a risk that too many decisions on developments in regulatory policy will be taken by Ministers rather than regulators, working with companies and consumers in the sectors they regulate, and that Ministers will be unduly influenced by “DIY economics”. The main challenge for the next ten years is, therefore, likely to be the relationship between regulators and government.