In the United States the courts have long been involved in the oversight of regulators. In the United Kingdom, which created its utility regulators from scratch in the 1980s, an alternative system was sought. This system centers on three concerns: the procedure followed by the regulator, the...

Price controls -- typically reviewed every five years in the United Kingdom -- have been controversial. The author traces the development of U.K. price controls and explains that the initial controls for electricity and water companies, based on underestimates of the companies' scope for...

The United Kingdom has pioneered the use of price control regulation. The periodic review of these controls lies at the core of the mechanism, and the UK experience shows that this review is complex and time-consuming and can be controversial. Based on the UK experience the author proposes a...