The energy sector faces tremendous challenges, including uncertainty in gas supply and electricity generation, de-carbonisation and the impact of wider policy decisions, all contributing to difficult trading conditions and undermining consumer trust. In the UK, the Competition and Markets Authority’s market investigation continues, with implications for all players. Across Europe, other national regulators seek to make the same trade-offs between the need to attract investment and provide regulatory stability for assets with long lives, and the need to respond to consumer concerns about prices and perceived lack of choice. Price regulation using Ofgem’s RIIO model – setting revenue based on the competing goals of investment, innovation and ‘outputs’ – continues to attract close scrutiny.
Our market-leading regulatory practice is well-placed to assist clients in energy markets, in the UK, in EU markets or elsewhere. We have unrivalled experience of price controls (including acting for the appellant in the first regulatory appeal of a RIIO price control) and critical issues such as consumer protection, competition law and industry-specific concerns such as smart meters.