Duties of Economic Regulators Utilities 2023-03-23
2023-03-23
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
No specific incident or context is provided, but the question addresses ongoing work on regulatory reforms in utilities sectors.
What recent progress has been made on updating the statutory duties of economic regulators in the utilities sectors?
We are committed to bringing forward a consultation in the coming months on proposals to reform our approach to economic regulation in the utilities sector. This will include the outcomes of our review of the regulators' statutory duties.
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Assessment & feedback
The answer does not provide specific details about recent progress or any timelines for implementation.
Under Review
Response accuracy
Q2
Partial Answer
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Context
The MP acknowledges the new ministerial team and expresses urgency for regulatory reform to address issues of inefficiency and high costs.
I welcome the bright and shiny new ministerial team to their roles, and I urge my right hon. Friend the Secretary of State, as the new broom, to get this moving a lot faster. Some economic regulators are too expensive, too slow and too soft, so could we use the upcoming competition Bill to refocus them on sharper competition so that consumers get better deals and fewer rip-offs, because otherwise we will miss the best opportunity for years?
My hon. Friend is quite right. As set out in our policy paper, the duties and functions of Ofwat, Ofcom and Ofgem have significantly expanded since privatisation. I agree that the Bill would enable us to move more quickly, and I would like to work with him to see what we can do to improve regulation more broadly.
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Assessment & feedback
The answer does not specify how or when the competition Bill will be used for regulatory reform.
Working With Partners
Response accuracy
Q3
Partial Answer
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Context
The MP addresses rising utility costs that affect constituents, highlighting the need for accountability in regulatory bodies.
I thank the Minister for her response to this important question. All our constituents are squeezed due to rising prices over which they have no control. In the light of her response, and in anticipation of her correspondence with the hon. Member for Weston-super-Mare (John Penrose), I hope that we can increase accountability and reduce prices, and thereby reduce inflation, which will help our constituents.
The hon. Gentleman is right that our constituents are at the end of what the regulators are doing, so our reforms should build on their strengths and continue to reinforce the UK as a leading global destination for investment in utilities infrastructure, to the long-term benefit of all our constituents and consumers.
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Assessment & feedback
The answer does not address how accountability will be increased or prices reduced.
Changed Subject
Response accuracy