European Economic Regulation
A practical guide for regulation managers
Published on 6. March 2001
Book
Paperback/Softback
128 pages
978-0-273-65094-2 (ISBN)
Description
Regulatory structures and techniques are continuously being adapted to account for competition, technological changes and other changing circumstances. Executives operating in affected industries need to keep abreast of these developments. This briefing enables you to do just that. European Economic Regulation: A practical guide provides a unique insight into the regulatory world, examining all sectors. It not only covers the core issues raised by economic regulation and explains the underlying rationale, but also provides crucial information and advice on how to tackle them. The briefing takes a broad look at the issues from a practical perspective, backed up with detailed industry-specific case studies. Essential reading for anyone working in the regulated sectors, from telecommunications to electricity, from water to gas.Contents include: * The theoretical basis for regulation * Different systems of regulation * Overview of price setting methodologies * Setting the targets for profitability * Achieving the desired incentives * Regulating for competition * The common ground between competition policy and regulation
More details
Series
Language
English
Place of publication
Harlow
United Kingdom
Publishing group
Pearson Education Limited
Target group
Professional and scholarly
Dimensions
Height: 296 mm
Width: 211 mm
Thickness: 8 mm
Weight
434 gr
ISBN-13
978-0-273-65094-2 (9780273650942)
Copyright in bibliographic data is held by Nielsen Book Services Limited or its licensors: all rights reserved.
Schweitzer Classification
Persons
Dermot Glynn is chairman of Europe Economics, a consultancy offering expert advice on all aspects of economic regulation, competition policy and the economic effects on public policy.He was previously managing director of NERA ( National Economic Research Associates) from 1985-97, in charge of offices in London, Madrid and Sydney and responsible for developing and managing NERA's operations outside the US.Before joining NERA Dermot Glynn was the chief economist of the large accountancy and consulting firm KPMG (Peat Marwick). Providing advice on technical economic questions and handling a range of consulting assignments. He joined KMPG from the Confederation of British Industry, where he was economic director for ten years, having been appointed at an unprecedentedly young age. He had previously been a member of the Economic Faculty and a research consultant to the department of Applied Economics at Cambridge University.Dermot Glynn was an undergraduate at Balliol College, Oxford, where he was awarded an Open Exhibition ad read Poltics, Philosophy and Economics.Mark Clifton is a director of Europe Economics. He is expert in the issues associated with economic regulation and competition policy in regulated sectors, and has experience in the electricity, gas, telecommunications, transport and water sectors. He has a particular interest in the design of regulatory arrangements and incentive structures. Recent work has focused on price reviews in energy and water, and on aspects of the framework for the economic regulation of the UK rail and airport industries.Important contributions to this book were also made by Martin Howe, John Spicer, Franck Latremoniere, Stephano d'Ambrosio, Lawrence Baker, Alberta Corona and others at Europe Economics.Europe Economics was founded by Dermot Glynn in 1998, since when it has established a position as one of the country's leading micro-economic consultancies. Clients include most of the UK's economic regulation authorities, and major companies involved in competition and other regulatory cases. Outside the UK, Europe Economics has carried out important research for the European Commission, for regulatory authorities in Italy, Ireland, and Denmark, and for companies involved in competition cases in South Africa. Europe Economics' staff are all first-class economists, and outside academics are also involved in project team where appropriate.
Content
List of figuresList of tablesPreface List of abbreviations PART I The justification for regulation * Overview * Introduction * Market power * Asymmetric information * Externalities * Summary Different systems of regulation of monopolies * Overview * Introduction * Political control * Rate of return regulation * Price cap regulation: RPI-X * Summary PART II Overview of the price-setting process * Overview * Introduction * The 'building blocks' * Other important factors * Profiling of revenue * Key financial ratios * Summary Setting the key parameters * Overview * Allowed returns * Forecasting demand * Forecasting efficient levels of cost * Summary Achieving the desired incentives * Overview * Introduction * Quality of outputs * Capital expenditure and the asset base * Benefit and risk sharing * Summary PART III Regulating for competition * Overview * Introduction * Why competition? Why regulation? * Approaches to regulating for competition * Competition and consumer welfare * Promoting informed consumer choice * Summary Competition policy and regulation * Overview * Introduction * Areas where regulation or competition policy are needed * Role of the competition authority in regulatory reform * Separation and overlap of competition policy and regulation * Summary Appendix: Setting targets for profitability