RIIO-2 Final Determinations: how final?

Having published its Draft Determinations (DDs) in July 2020,1 on 8 December 2020, Ofgem published its Final Determinations (FDs) for the RIIO-2 price controls for the GB electricity transmission (ET), gas transmission (GT), and gas distribution (GD) sectors, and the electricity system operator (ESO).2 The price controls are due to start on 1 April 2021

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EU pharmaceutical strategy: innovative medicine?

The European Commission is setting out a road map of interlinked policies across various sectors, with the stated aims of: (i) improving outcomes for Europeans; (ii) increasing competition and the competitiveness of European businesses; and (iii) supporting European innovation. Here in Today’s Agenda, we look at the Commission’s recently announced Pharmaceutical Strategy for Europe.1 The strategy

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Contractual freedom and territorial exclusivity remain key to new content production and distribution in the AV sector

Oxera’s latest report shows that including AV within the scope of the EU’s 2018 Geoblocking Regulation—even with a requisite rights limitation—would erode the contractual freedoms that traders (including producers, distributors, cinemas and broadcasters) rely on to fund new content production and distribution. In 2016, Oxera published a report jointly with Oliver & Ohlbaum Associates that

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Seasoned public policy expert joins Oxera

Peter-Carlo Lehrell joins Oxera as Senior Adviser and Director Oxera is pleased to announce that Peter-Carlo has joined Oxera’s leadership team as a Senior Adviser and Director, assisting the firm with international business development and strategy. Commenting on the appointment, Oxera Partner Sir Philip Lowe said: ‘We are very pleased that such an experienced public

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Luxembourg Rail Protocol to save United Kingdom between £4.8 and £5.2bn

Oxera has updated its 2018 study for the Rail Working Group that assessed the direct microeconomic benefits from the Luxembourg Rail Protocol. The Luxembourg Rail Protocol is a new global treaty that will make it much easier and cheaper to finance railway rolling stock. The 2018 study focused on a group of 20 European countries,

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What’s new in the 2020 update to the Green Book?

Executive summary Her Majesty’s Treasury (HMT) has reviewed the Green Book,1 which was last updated in 2018, to assess whether any changes need to be made. This note provides a high-level summary of HMT’s findings from this review, as well as any changes that it caused. The most interesting and material changes are the higher

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What’s new in the 2020 update to the Green Book?

Her Majesty’s Treasury (HMT) has reviewed the Green Book, which was last updated in 2018, to assess whether any changes need to be made. This note provides a high-level summary of HMT’s findings from this review, as well as any changes that it caused. The most interesting and material changes are the higher emphasis on

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European regulation of digital markets puts future innovation at risk

Oxera’s latest report shows that regulation of digital markets risks disadvantaging European consumers and businesses. In June 2020, the European Commission made a series of proposals affecting digital markets. These proposals include a form of ex ante regulation, which has become known as the Digital Markets Act and is likely to target large global digital

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The impact of the Digital Markets Act on innovation

The European Commission is planning a Digital Markets Act (DMA). Our research, commissioned by Amazon, has found that the Commission’s proposals—so far as they can be discerned from the consultation process—risk reducing innovation overall. In turn, this will lead to lower economic growth and harm European consumers. The proposed DMA includes an ex ante regulation

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Private retreat: are we witnessing the decline of public equity markets?

Public equity markets bring substantial benefits. However, in recent years there has been a fall in the number of initial public offerings (IPOs), and an increase in delistings as companies seek to remain or become private. What is driving this decline in listings? Should policymakers be concerned?

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