Sahar Shamsi made an impact at Utility Week’s Energy Summit

A recent article by Utility Week highlighted views from Oxera Principal, Sahar Shamsi, on the evolution of energy network regulation in the UK. The following text is taken from the Utility Week website, and is used with permission. Text relating to Sahar is highlighted green below:   If one thing was clear from Utility Week’s latest Annual Energy

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National Infrastructure Commission—National Infrastructure Assessment

On Tuesday 10 July, the National Infrastructure Commission (NIC) published its first National Infrastructure Assessment. This assessment aims to take a long-term view of the needs of the UK across six sectors of the economy through a ‘long term, cross-sectoral approach’[1] and to support sustainable economic growth across all regions of the UK, improve competitiveness, and

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Jostein Kristensen and Sahar Shamsi identified by WWL as leading players in their field

Who’s Who Legal (WWL) identified two of our team as leading ‘Energy Experts 2018’

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Luxembourg Rail Protocol to save South Africa €1.3bn

Oxera has produced a study for the Rail Working Group that looks at the microeconomic benefits of the Luxembourg Rail Protocol in South Africa

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Oxera advises Financial Conduct Authority on strategic review of banking

On Wednesday 27 June, the Financial Conduct Authority (FCA) published an update on its wide-ranging strategic review of the retail banking sector. Throughout this phase of the review, Oxera has advised the FCA on the use of innovative approaches to business model analysis to shine a light on the regulator’s key areas of interest. These

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Mind the vGUPPI! A new approach to vertical mergers in local markets

Recent transactions involving the merging of wholesale and retail activities (most notably the Tesco/Booker merger and the Co-op/Nisa merger) have led the UK Competition and Markets Authority (CMA) to introduce a new framework for assessing vertical mergers. What is the framework of analysis of these cases, and how can the vGUPPI tool be used in the context of grocery mergers?

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Battle in the trenches? The future of ultrafast broadband roll-out in the UK

The UK government is finalising its review into the future of telecoms infrastructure, which has included a call for evidence on market and policy models to support the necessary investment. Simon Pilsbury, Regulation Director at TalkTalk Group, one of the UK’s largest broadband providers, looks at the policy agenda that the government and Ofcom should adopt in order to stimulate ultrafast broadband investment across the UK. This follows an Agenda article in April 2018 on the same topic from BT’s perspective

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Four-ever? Competition remedies in the audit market

In light of recent accounting scandals, there are widespread calls for the UK competition authority to re-examine the audit market. Yet spending a substantial amount of resources on a market investigation, and concluding once again that there is a competition problem, is of little value if a suitable remedy cannot be found. A break-up of the Big Four is perceived by many as a necessary and long-awaited intervention, but is it the right solution? And if not, what would be an alternative remedy?

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New rail treaty will save ‘1520 states’ €14bn

Oxera today unveiled a study for the Rail Working Group that assesses the direct microeconomic benefits from the Luxembourg Rail Protocol, which will save €13.9bn for nine Commonwealth of Independent States using the 1520 gauge. The Protocol, which is expected to come into force in 2019, is a new global treaty that will make it much easier and cheaper to finance railway rolling stock.

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Oxera wins prestigious World Business Partner Recognition Award

The 14th Annual Airports Council International Europe (ACI EUROPE) Best Airport Awards were announced last night during the Gala Dinner of the ACI World/28th ACI EUROPE General Assembly, Congress & Exhibition, which was hosted by Brussels Airport. This year’s judging panel for the ACI EUROPE Best Airport Awards was drawn from a well-respected group of

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Twenty-first Oxera Economics Counsel meeting in Brussels

The twenty-first meeting of the Oxera Economics Counsel (OEC) was held in our Brussels office yesterday. For the first time the event was attended by all 11 current members of the OEC, and welcomed not one, not two, but three Chief Economists as guests, Arno Rasek of the Bundeskartellamt, Etienne Pfister of the Autorité de

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Dr Avantika Chowdhury speaking on e-commerce and competition at OECD

Oxera Partner, Dr Avantika Chowdhury, will be participating in the expert panel at the OECD round table on ‘Implications of E-commerce for Competition Policy’ in Paris on 6 June. The event will involve discussions with more than 25 country representatives about a range of issues including market definition and competitive dynamics in the e-commerce market,

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Discrimination or differentiation? Price discrimination as an abuse of dominance

When does price discrimination by a dominant firm amount to an abuse? Is the mere existence of a price difference sufficient? A recent ruling by the Court of Justice of the European Union (CJEU) provides some guidance on these questions, highlighting the ability to distort competition as a key criterion for a finding of abuse. Taking an economic perspective, we look at the CJEU’s approach and consider the implications for other cases of discrimination more broadly

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Regulation 2018: ‘back to basics’

The UK is experiencing a backlash against the liberal orthodoxy of utility regulation of ten years ago, which was based on privatisation, competition and deregulation. A recent Agenda article on the legitimacy of sectoral regulation in the UK asked ‘Is it policy, ownership, industry structure, governance, financing or regulation that is driving the problem?’ Martin Cave, Visiting Professor, London School of Economics, provides his perspective

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The curious case of the valueless valuation—the Signia Wealth v Vector Trustees ruling

On 8 May, the High Court in London issued a judgment on the Signia Wealth v Vector Trustees Limited case. Mr Justice Marcus Smith determined that the fair value of the 49% stake in Signia Wealth owned by Ms Nathalie Dauriac (represented by Vector Trustees Limited ) was £790k—in sharp contrast to the £21m claimed by Ms Dauriac. This valuation decision provides an important precedent on the choice of the appropriate valuation method and the importance of taking into account relevant contractual terms in the valuation exercise

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