San Francisco, California
London, United Kingdom
UK Energy policy and energy markets continue to adapt and respond to changing technologies, consumer preferences, and policy prerequisites. As change accelerates we review the evolution and regulation of UK energy markets from 1920 and the accompanying governance arrangements used by successive governments to exercise control over nationalised industries and ‘Public Corporations’. We contrast this to the framework introduced during the 1980s based on privatisation, more competitive market structures, the establishment of new ‘independent’ regulatory functions and the belief that competitive markets could and should drive economically efficient service delivery.
The 2008 Energy Act had profound implications for markets, regulation and policy. The stark conclusions of OFGEM’s Project Discovery coupled with doubts about the market’s ability to deliver long term energy objectives (security of supply consistent with environmental obligations at affordable cost), led successive governments to adopt a more interventionist approach to energy policy, whilst retaining the broad framework of independent regulation and competition policy.
So where are we now? Energy markets are being reviewed by the Competition Markets Authority, and while the UK’s climate change obligations are certain, less certain is how these obligations will be met and the required contributions of the private sector, competitive markets and independent regulation. Further changes in energy policy and regulatory governance can be expected!
About the speaker:
After three years of Tuba playing at the Royal Academy of Music, an interest in economics led John Cunneen to join the UK Government Economic Service in 1991 and subsequently to the Office of Electricity Regulation, Scotland in 1994.
In 1998 John moved to Abu Dhabi to help establish, as senior economist, a new electricity and water regulator. In July 2001 John moved to Oman to help the Ministry of National Economy implement wide ranging electricity sector reforms. In March 2005 the Oman Cabinet confirmed John’s appointment as founding Executive Director and Member of a new independent regulatory function the Authority for Electricity Regulation, Oman.
Reappointed for two further terms John returned to the UK in April 2014.
We expect this event to be extremely popular, and places will be on a first come first served basis. If you are no longer able to attend please email as soon as possible email@example.com
The presentation will promptly start at 5.30pm. If you are unable to secure a ticket this seminar will be recorded and made available on the UCL-Energy Youtube channel
Photo credit: Nayu Kim CC by 2.0 April 2011
When & Where
UCL Energy Institute
About the UCL Energy Institute:
Founded in June 2009, the UCL Energy Institute (UCL-Energy) was established as UCL’s response to the global challenges of mitigating climate change and providing energy security in the 21st century. UCL-Energy, which sits within the Bartlett Faculty of the Built Environment at UCL, brings together different perspectives, understandings and procedures in energy research, transcending the boundaries between academic disciplines. It coordinates multidisciplinary teams from across the University, with the aim of accelerating the transition to a globally sustainable energy system through world-class energy research, education and policy support. www.ucl.ac.uk/energy Follow on Twitter @ucl_energy