Compelling economics only lives up to its name if it delivers compelling outcomes. (Empty rhetoric never solved a client issue.) Have we managed to do this? Consult any of the following:
Ofwat, the regulator of the water sector in England and Wales, wanted to review the way it regulated water companies and, in particular, to improve their focus on customers by developing an approach to regulation that would incentivise the delivery of outcomes sought by customers. It asked us to consider how best to do this.
ComReg, the Irish communications regulator, asked us to help it determine when, and how, it should intervene in order to implement the obligation it imposed on eircom, following a finding of significant market power in the wholesale and retail fixed voice access market, not to ‘unreasonably bundle’ fixed voice access services.
Bus operators in the Tyne and Wear region faced regulation of their business through the imposition of a Quality Contracts Scheme (QCS) by the local authority (the North East Combined Authority, NECA). This would have seen their current commercial freedoms over fares and routes replaced with a system where these things were determined by the local authority, with the operators paid to provide those services. To implement the QCS, the local authority was required to demonstrate to an independent QCS Board that the scheme met five public interest criteria and that the consultation on the QCS was adequate.
In 2007 British racecourse owners found themselves embroiled in complex litigation over media rights. Historically, televised horseracing in betting shops had been provided by broadcaster SIS on behalf of bookmakers William Hill, Ladbrokes and BetFred, and the associated media rights company BAGS. Through AMRAC, the racecourses launched a rival service, Turf TV, to betting shops. The bookmakers and BAGS responded by suing the bookmakers for price-fixing, collective selling and foreclosure.