Documents

Documents

The changing role of independent economic regulators in decision-making for major infrastructure projects in the UK

How decisions are, or should be, taken for major infrastructure projects is a recurring area of policy debate. Longstanding differences exist between those who see a prominent role for government in directing, and potentially funding, large-scale infrastructure projects, and those who advocate that government involvement should be limited to ensuring that an appropriate policy and regulatory framework is in place to facilitate such investments by the market where necessary.

Read More »
Documents

Rethinking Regulation

The purpose of this document is to seek support for, and encourage participation in, the future research programme of the Regulatory Policy Institute in the UK, in co-operation with its sister network, the Regulatory Policy Institute of Australia and New Zealand (RPI ANZ).

Read More »
Documents

Institutional Innovation Initiative & the Energy Transition

The Energy Transition represents an unprecedented challenge for Policy Makers. The speed and magnitude of emissions abatement demanded by the 2008 Climate Change Act, whose 4th & 5th carbon budgets are currently off course, combined with the subsequent increased ambition signalled by the UK 2050 Net-zero commitment made in 2019, along with the recent course-correcting commitment to target a 68% fall in emissions by 2030 vs. the 1990 baseline, requires the rapid promotion and diffusion of clean energy innovation with action extending to the hard-to-abate sectors dominated by buildings, industry and transport.

Read More »
Documents

Net zero by 2050 as a strategic objective

This note has a specific and limited purpose: to consider the appropriateness of a target of ‘net zero by 2050’ as the overarching strategic objective of a national policy to reduce carbon emissions.

Read More »
Documents

The Role of Regulation & Policy in facilitating the optimal lowest cost integration of Variable Renewable Energy

Variable Renewable Energy (VRE) from wind and solar is frequently cited as the solution to UK Electricity decarbonisation. Technology learning curves suggest that, depending on location, wind and solar, which accounted for ~8% of global electricity generation in 2019, are currently, or projected to become, the “cheapest” source of new generation in most countries by 2030.

Read More »
Miscellaneous Publications

Rethinking Regulation: Research

A document setting out some prospective, new thematic areas of policy research in cooperation with RPI ANZ, inviting support and participation. The current list is not exhaustive: more new areas are being identified.

Read More »
air air travel airbus aircraft
New Series

Economic Rents at Heathrow Airport

The Paper challenges the common supposition that (scarcity) rents at Heathrow airport accrue from airlines charging efficient clearing prices and instead suggests that because of oligopolistic practices, much of the rent at Heathrow is quasi-monopoly rent. It also suggests remedies that could be implemented in the short term before more runway capacity is added and that if Heathrow airlines matched the average load-factors of those at London’s other major airport, Gatwick, average fares might be as much as 5 per cent lower.

Read More »
sign pen business document
Miscellaneous Publications

The EEA Agreement: the key to a simplified Brexit process?

The UK is currently a member of the European Economic Area and is likely to be able to continue membership if it wishes. Its treaty rights under the EEA afford the UK a considerable degree of control over the post-Brexit outcome. Continued membership can be viewed as a ‘interim measure’ that would, in one step, meet most of the Leave agenda, whilst allowing time for reflection on longer-term issues.

Read More »
white paper folders with black tie
Essays in Regulation

Brexit and the Single Market Revisited

As the Brexit negotiations begin to focus on future trading and customs arrangements these
notes reprise the principal theme of Brexit and the Single Market2 (published in July 2016 in
the wake of the referendum) and add comments on some aspects of the subsequent discourse.
Very briefly, my conclusion back then was that the most efficacious way to respond to the
Leave vote on 23 June 2016 would be to seek a Brexit based on the UK’s continued
membership of the European Economic Area (EEA) in the period immediately following
withdrawal from the Treaty of Lisbon. There were three main reasons for taking this view.

Read More »
close up of photo of books
Essays in Regulation

Brexit and the political economy of regulation

This essay is a developed version of the Zeeman Lecture given at the Regulatory Policy Institute’s Annual Conference on 26 September 2017 at Lady Margaret Hall, Oxford University. The motivation for the Lecture was that, in the period since the Brexit Referendum on 23 June 2016, politicians, interest groups, journalists and commentators have fed the public a steady diet of alternative facts and false or misleading propositions. The Lecture focused on three of a much wider set of such assertions and propositions. All are relevant to the future conduct of regulatory policy, though each in different ways. Each is associated with a cognitive style that I have called convenient, selective myopia.

Read More »