Utility Regulation and Competition Policy

Utility Regulation and Competition Policy

Edited by Colin Robinson

In this book, the latest volume in the annual series published in association with the London Business School and the Institute of Economic Affairs, some of the main issues in UK and EU utility regulation and competition policy are discussed. Topics examined include the new electricity and gas trading markets, regulating the railways, introducing competition into water, telecoms and Ofcom, opening EU gas and electricity markets, the 1998 Competition Act, EU merger policy and a general review of privatisation and regulation in Britain. Essays by expert commentators are followed in each case by comments from the relevant regulator.

Chapter 4: The New Gas Trading Arrangements – George Yarrow, Chairman’s Comments – Eileen Marshall

George Yarrow

Subjects: economics and finance, competition policy, public finance, public sector economics


The new gas trading arrangements (NGTA) is the name given to a package of reforms in the gas industry, the first elements of which were introduced in October 1999. The NGTA were and are part of an evolutionary process of development in the industry, with origins stretching back several years. The reforms have been more incremental than in electricity, where the abolition of the Pool and the introduction of the new electricity trading arrangements (NETA), analysed by David Currie in Chapter 1, mark a larger step change. Nevertheless, the pace of change in gas has sometimes been quite rapid, as many readers will know all too well, and the introduction of NETA, coupled with the strengthening interactions between gas and electricity markets, now increases the priority that needs to be given to outstanding issues.

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