Date: 2024
Type: Working Paper
Reform, not revolution, is what is needed now for yardstick competition
EUI, RSC, Working Paper, 2024/18, Centre for a Digital Society
CROCIONI, Pietro, SILOS RIBAS, Mateo, Reform, not revolution, is what is needed now for yardstick competition, EUI, RSC, Working Paper, 2024/18, Centre for a Digital Society - https://hdl.handle.net/1814/76888
Retrieved from Cadmus, EUI Research Repository
Yardstick competition as an approach 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.
Cadmus permanent link: https://hdl.handle.net/1814/76888
ISSN: 1028-3625
Series/Number: EUI; RSC; Working Paper; 2024/18; Centre for a Digital Society
Publisher: European University Institute
Keyword(s): Yardstick competition Cost benchmarking Local monopoly Water UK Ofwat