Economic regulation

How can markets be made to function in the best interests of consumers and citizens? Are there any limits to the expansion of markets in the provision of public services? Is too much regulation stifling growth?

The onset of difficult economic conditions has posed important questions about the way in which markets work. But market reform issues determine how a country functions and shapes the society we live in. From the price we pay for our heating, to the financial products we can buy, to how we run our schools and hospitals. We all have a stake in the answers.

“For 18 months, PwC worked as the water regulator’s delivery partner, complementing their skills and experience and helping them to get the best deal possible for customers and the environment.

As a result, the regulator brought value to customers who will now pay £3 billion less for their water; by 2019-20, bills will be 4% lower than originally planned and 5% lower than current levels. The work also means that companies are now compelled to deliver better services and improved environmental outcomes; companies will invest £43 million to achieve this over the next five years. For example, one million more vulnerable customers receiving assistance to pay their bills, one third fewer properties affected by sewer flooding, and improved bathing water quality at 50 public beaches. The companies worked harder than ever before to engage with their customer and stakeholder groups. One recorded that they had conducted “the biggest customer engagement exercise in the company’s history”. Utility Week described it as 'a seismic shift in the culture of the water sector.'"

MCA Awards 2016


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