Uncertainty, regulation and the pathways to net zero

Michael G. Pollitt, Daniel Duma and Andrei Covatariu

Chapter Chapter 16 in Handbook on Electricity Regulation, 2025, pp 351-370 from Edward Elgar Publishing

Abstract: In this chapter we focus on suggestions on how energy regulation needs to change in the light of the likely ongoing and possibly increasing uncertainty which the path to net zero involves. We consider the role of regulation within the national governance system for the energy sector. After this we outline how best practice regulation should evolve in the light of both theory and experience. Theories of regulation suggest key roles for both learning and for trade-offs in regulation. We advocate for the development of a ‘learning regulator’ which simultaneously learns from the past (dynamic regulation), in the present (responsive regulation) and anticipates future learning points (adaptive regulation). While current best practice regulation involves the first two types of learning, the third remains a work in progress. Finally, we introduce some possible regulatory lessons from other sectors, namely water, autonomous vehicles and airports.

Keywords: Uncertainty; Energy regulation; Learning regulator; Net zero (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035314348
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