Britain Pioneered Performance-Based Utility Regulation. How Has It Worked Thus Far?

British utility regulators are in the midst of a major change as they seek to spur £32 billion of upgrades to the country’s aging distribution networks by decade’s end. To achieve its goals, the government’s utility regulator, Ofgem, has put the responsibility squarely on the utilities, which need to develop robust business plans informed by engagement with their customers.

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