Reform, Not Revolution, is What is Needed Now for Yardstick Competition-Reference-Cited by-同舟云学术

Reform, Not Revolution, is What is Needed Now for Yardstick Competition

Published:2024-06-01 Issue:1 Volume:23 Page:27-63
ISSN:2194-5993
Container-title:Review of Network Economics
language:en
Short-container-title:

Author:

Crocioni Pietro¹,Silos Ribas Mateo²

Affiliation:

1. 2055 Centre for Management Under Regulation , Warwick , UK

2. Financial Conduct Authority , London , UK

Abstract

Abstract Yardstick competition as a tool to set the prices of regional natural monopolies is now an established tool. After 30 years of application to the water industry in England and Wales, this article takes a critical look at how yardstick competition has been implemented in the latest Price Review 2019 (PR19). It proposes reforms to ensure that in the next Price Review 2024 (PR24) and/or beyond the efficiency challenges are appropriately set and the degree of information at the regulator’s disposal is maximised.

Publisher

Walter de Gruyter GmbH

Link

https://www.degruyter.com/document/doi/10.1515/rne-2024-0019/pdf

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