Failure of regulation
Thursday 11th November 2010, 2:30PM GMT.
Professor George Yarrow and Dr Chris Decker. (Picture By Peter Frankland)
REGULATION has failed in the postal and electricity markets, an independent study released today has found.
Both Guernsey Post and Guernsey Electricity have been at war with the Office of Utility Regulation at different times in recent years.
That led eventually to severe political pressure for a review of regulation, which Commerce and Employment commissioned the Regulatory Policy Institute to do.
Today’s independent report by Professor George Yarrow and Dr Christopher Decker said that the regulatory system had not performed effectively in post and had failed in some key respects in terms of electricity.
The authors recommended that the regulator should use a light-touch approach and were also critical of the role played by the States – Treasury and Resources is the shareholder of both utilities.
- More details of the report in the Guernsey Press. See below for subscription details.
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Many of us have been saying the same thing for at least 6 years. We have also provided evidence to support the reasons impotence of regulation Guernsey style.
Copying the UK model was never going to work in Guernsey.
Now the States will spend even more taxpayer money on the consultants “recommended(ation) that the regulator should use a light-touch approach and were also critical of the role played by the States – Treasury and Resources is the shareholder of both utilities.
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So what happens next then? Do the States begin to regulate the Regulator? Will the OUR be brought to book, or will the report and its findings be either dismissed as irrelevent or simply forgotten about along with the consultants costs?? It would be nice to hear what C&E, T&R and the Policy Council have to say and get a clear understanding of their next steps.
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Why didn’t the States just ask me to write up the independent study? I could’ve have happily told them to fire John Curran.
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As above, shame money was spent to say something many of us have said before in the past.
From what I can see the Regulator has achieved nothing positive.
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Reading the article in today’s paper there is an opportunity to provide views on the colsultation document, this is open to Christmas Eve. It is under Commerce and Employment on gov.gg
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