25 Year Journey of UK Water Industry Economic Regulation - Lessons for the New Zealand Context
Annual Conference
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The water industry in England and Wales was first privatised in 1989. Scotland and Northern Ireland moved to their own regulatory frameworks in 2002 and 2010 respectively, taking on board the lessons learnt from the English and Welsh regulatory experience but addressing the specific needs of those countries.
This paper sets out some of the benefits and challenges of regulation, drawing on examples from the United Kingdom (UK). It discusses a range of issues relating to regulatory models, including possible economic models and frameworks for ensuring compliance and the protection of the environment and drinking water standards. The issue of privatisation versus regulation is also considered.
There has been an ongoing discussion about the possible regulation of the New Zealand water industry over recent years and learning lessons from other countries will be an important part of any future change. The aim of this paper is to provide some practical insights into regulatory options, to inform future discussion and debate.