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

Crocioni Pietro () and Silos Ribas Mateo
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Crocioni Pietro: 2055 Centre for Management Under Regulation , Warwick, UK
Silos Ribas Mateo: Financial Conduct Authority, London, UK

Review of Network Economics, 2024, vol. 23, issue 1, 27-63

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.

Keywords: yardstick competition; efficiency; water services regulation; United Kingdom (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1515/rne-2024-0019

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