Whilst regulators have resisted the concept of the split cost of capital, financial markets have been applying its logic with enthusiasm. The recent takeover of Norweb with a reported 45% premium to the regulated capital value (RCV) takes the...
At first glance Britain has one of the best records in Europe on climate change; greenhouse gas emissions fell in the 1990s and it has already surpassed its 2012 Kyoto target. This paper examines whether the claimed superiority of Britain's approach is so
2007 will go down in economic history as a roller-coaster – it’s not often that we see a global credit crunch which requires over half a trillion dollars to stabilise, and a run on a major London bank. The former occurs roughly every quarter of a century,
A striking feature of Europe's energy mix is its growing dependency on imported gas, and in particular its dependency on Russia as a source of supply. For some, this trend poses few new and special difficulties... For others, oil dependency is not quite s
What drives markets in the end are fundamentals, and few variables are as important as the real interest rate—the return, after inflation, on relatively risk-less assets. It determines one part of the return on savings, and it feeds through into the relat
The current debate about the future of airport regulation in the UK has arisen for a variety of reasons, which have together built up a substantive case for reform. In addition to the customer and airline complaints on the quality of service, the takeover
The energy sector has a habit of creating surprises. Back in the 1980s and 1990s, when oil prices touched $10 a barrel, and there was excess capacity in most European countries, nobody worried much about security of supply, and bothered even less about cl
Published by openDemocracy, January 2007. The European Commission's new energy plan falls far short of the integrated, long-term strategy that the continent needs, says Dieter Helm.
Published in Oxford Forum, Volume 3, Autumn 2005, pp. 22-23. In the twenty-first century, there are many challenges that threaten our way of life, itself the product of the enormous economic expansion of the twentieth century. International terrorism and
Recent corporate activity and the emergence of highly geared companies in the utility and infrastructure sectors have raised fundamental questions about risk, returns and the appropriate responses from investors and regulators. A gradual revolution has be
This memorandum focuses on three issues: the supply/demand balance in the energy sector; the linkage between security of supply, investment and the climate change objectives; and the energy policy framework required to promote low carbon technologies. In
In D. Helm (ed.), The Future of Infrastructure Regulation, published by Oxera, July 2005, pp. 1-9. It is tempting to think that, after two decades of experience, regulation might have moved from the controversial and novel, to the tried and tested, that c
Edited by Dieter Helm, published July 2005 by Oxera. Based on the speeches of regulators and companies in the infrastructure and utilities industries, presented at the Oxera conference, The Future of Infrastructure Regulation, on March 1st 2005, this volu
"There would not have been the energy security strategy from No 10 [in April] unless something had gone wrong. We h… https://t.co/qe3yjRgIbV
PresentationEnvironmentA just transition for Africa May 9, 2022
A discussion on how to ensure an energy transition that is inclusive and just for all Africans.
PresentationClimate Change LIFE AFTER COP26 May 5, 2022
Presentation to Flame 2022
Recent Publications
The longer-term consequences of the energy crisis require a permanent cost solution to be ...
Keynote speech at the Policy Exchange
With energy bills set to increase from 1st April, and just 13 years for the electricity se...