This paper examines optimal price (i.e. ‘sliding scale’) regulation of a monopoly when productivity and managerial effort are not observed. We show how to operationalise this model of incentive regulation and use actual data from electricity distribution in England and Wales to make welfare...

The purpose of this paper is to provide information on the views of a set of ‘experts’ about UK energy policy, and to contribute to the debate about energy policy in the UK and elsewhere. The paper summarises the results of two surveys, carried out in November 1992 and December 1994, of the...