• Publication Regulation The Dividend Puzzle: what should utilities pay out?
    December 4, 2018

    Why does Centrica yield 9.3% and SSE 8.4%, whilst DRAX yields 3.2%? Why do United Utilities, Severn Trent and Pennon yield respectively 5.0%, 4.8% and 4.4%, and National Grid 5.8%, whilst BT yields 6.0% (all at the end of November 2018)? Why are they...
  • Publication EU Membership BREXIT: The Hotel California Syndrome
    September 10, 2018

    The Eagles song, Hotel California, has the memorable line: “you can check out any time you like. But you can never leave!”, which is a striking metaphor for the BREXIT negotiations. The full verse is:
  • Publication Water Who owns the water companies?
    July 24, 2018

    Who owns the water companies? Are publicly quoted companies better than private equity and infrastructure owned companies? Does it really matter? All sorts of claims are being made, and the merit of the discussion is that it asks very good questions...
  • Publication Regulation RIP RPI-X Regulation - OFWAT and OFGEM nail down the coffin
    April 17, 2018

    RPI-X regulation has had a good run. It was a deceptively simple idea: fix the prices and leave everything else to the companies and the markets to sort out how best to maximise profits by minimising costs. That simplicity was its great strength...
  • Publication Water Water Boarding
    February 14, 2018

    The water industry is in play - with the regulators, and with the politicians. Labour proposes to renationalise the water companies, and the government and the regulators are determined to toughen up the regulation to show that privatisation works for...
  • Video Water Water Boarding
    February 14, 2018

    The water industry is in play - with the regulators, and with the politicians. Labour proposes to renationalise the water companies, and the government and the regulators are determined to toughen up the regulation to show that privatisation works for...
  • Presentation Environment Natural Capital & Sustainable Economic Growth
    May 24, 2017

    Presentation for University of Oxford, Plant Science department
  • Publication Environment Waste Policy - tidying up the mess we are in
    May 18, 2017

    Out-of-sight and out-of-mind could be the motto of waste policy over the last few decades. We have dumped sewerage in our rivers and offshore, rubbish has gone to landfill sites, plastics into the sea and nuclear waste to storage sites. The results are..
  • Presentation Water The Future of Flood Management
    May 17, 2017

    Presentation for Floodex Conference
  • Presentation Environment Natural Capital & Sustainable Growth
    April 17, 2017

    Presentation for Natural Devon
  • Presentation Environment The Natural Capital Approach for National Parks
    April 7, 2017

    Presentation for Exmoor Society
  • Presentation Environment Upland Farm Support after BREXIT
    March 31, 2017

    Presentation for South West Uplands Network
  • Publication Regulation Policy by lists – the Green Paper and the new industrial strategy
    March 17, 2017

    Regulation grows. It is never reaches a stable equilibrium. There are always more things that politicians, regulators and the multiple vested interests want to do. These include new duties and responsibilities, new incentives, and most of all new spend...
  • Video Environment The Natural Capital Approach
    February 7, 2017

    Presentation for Irish Forum on Natural Capital
  • Publication Regulation Regulatory Reform and The System Operator Model
    January 10, 2017

    Regulation grows. It is never reaches a stable equilibrium. There are always more things that politicians, regulators and the multiple vested interests want to do. These include new duties and responsibilities, new incentives, and most of all new ...
  • Publication Regulation Do we need any more periodic reviews?
    December 12, 2016

    As the regulators and the utilities gear themselves up for the next round of periodic reviews around 2020, one question which is rarely considered is: do we need any more periodic reviews? Most regulatory regimes around the world don’t have them, and...
  • Presentation Environment The Implications of BREXIT on British Agricultural Policy
    November 24, 2016

    Presentation for Landscapes for Life Conference
  • Video Environment Manchester Urban Pioneer - A note from the chair (NCC)
    November 23, 2016

    Presentation for Urban Pioneer Roundtable
  • Publication Regulation Water regulation - what's next?
    November 10, 2016

    As the next periodic review of the water industry (PR19) approaches, government and regulators are going through the usual “reform” process. The temptation to meddle is just too great to resist, and this time there are some good reasons for change...
  • Video Environment Natural Capital & Sustainable Economic Growth
    September 15, 2016

    Presentation for The BIG Biodiversity Challenge Awards
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