Adding value with a portfolio approach to funding reduction
Budgets for capital projects are coming under pressure as funding is not being maintained in real price terms. The response from portfolio managers has been to cancel or postpone future projects or slow the pace of ongoing projects. If this is undertaken on an individual project level, it could lead… Read More
Consumer Duty board reports: are firms prepared for the July 2024 deadline?
The UK Financial Conduct Authority’s (FCA) Consumer Duty, a new outcomes-based regulation for financial services firms, has now been in force for over six months. July 2024 will see the deadline for the first annual Consumer Duty board reports. We share our reflections on the importance of these documents and… Read More
Adaptive planning: a proven solution in uncertain times
Ofgem published its Sector Specific Methodology Consultation (SSMC) for the RIIO-3 price control in December 2023. Over the past three months, networks have been engaging with Ofgem to prepare their submissions as responses to the SSMC. In reviewing the SSMC, Oxera had noted1 the need to support ‘the… Read More
ART Decision 15/2024: ART’s operational indications for the Italian motorway sector
With decision 15/2024, ART (Autorità di Regolazione dei Trasporti) published some of the outcomes of its regulatory impact assessment on the methodology for setting motorway tolls. This procedure was initiated by ART in November 2023. Following its assessment, ART deemed it appropriate to: (i) evaluate possible revisions to the regulatory… Read More
Electric vehicles: a future without fuel duty?
The extension of the 5p cut to fuel duty in last week’s Budget from the UK Chancellor of the Exchequer makes this the 14th year in a row that fuel duty has been frozen or cut. While this might bring short-term relief to drivers in the ongoing cost of living… Read More
Women and work: the impact of childcare support
In April 2024, the UK government will roll out the first phase of its new childcare funding programme, as announced in the Chancellor’s Spring Budget 2023. Official estimates may be understating the expected beneficial effects, underplaying the likely responsiveness of women to this support in terms of increased participation and… Read More
Water regulation in Italy: considerations on the new MTI-4
Ahead of the new regulatory period for the integrated water service, in December 2023, ARERA (Autorità di Regolazione per Energia Reti e Ambiente) published the decision setting the new regulatory framework for Italian water networks, the so-called MTI-4. According to the latest evidence, the regulation contributed to improve the outcomes… Read More
The Labour Party’s Rail and Urban Transport Review
Transport policy in the UK is at a critical juncture. The UK’s commitment to decarbonise transport will require adopting new technologies and changing behaviours, including a rapid uptake of electric vehicles, encouraging modal shift and active travel, adopting sustainable aviation fuels, improving aircraft efficiency and managing demand. Further, there are… Read More
Exclusive dealing and foreclosure in EU sports: unpacking the economics in the European Court of Justice’s 2023 Christmas gift
On 21 December 2023, the European Court of Justice (ECJ) pulled the red card for sports associations arbitrarily excluding competing sports organisers in their prior approval rules, acknowledging the potential harm to competition. What does this mean for the future of prior approval rules of sports federations? And how should… Read More
Ofgem’s RIIO-3 SSMC
On 13 December 2023, Ofgem published its Sector Specific Methodology Consultation (SSMC) for its forthcoming RIIO-3 price control for electricity transmission, gas transmission and gas distribution networks. Oxera summarises some of the key themes emerging from the consultation, ahead of the final methodology decisions expected in Spring 2024. Introduction The… Read More