United Kingdom Regulators Network
The United Kingdom Regulators Network (UKRN) was launched on 19th March 2014. It brings together the UK’s economic regulators and is tasked with improving coordination across regulated sectors to enhance investment and efficiency for the benefit of consumers.
The UKRN members are: the Civil Aviation Authority (CAA), the Financial Conduct Authority (FCA), Office of Communications (Ofcom), the Office of Gas and Electricity Markets (Ofgem), Office of Water Regulation (Ofwat), the Office of Rail Regulation (ORR) and the Utility Regulator. Monitor and the Water Industry Commission for Scotland (WICS) are also participating as observers.
UKRN Consumer Engagement and Switching Report
On 17 December 2014, the UKRN published its Consumer Engagement and Switching Report. The review focussed on the factors that affect the ability of domestic consumers in the UK to engage and be active within the markets that the UKRN members regulate.
The sectors within the scope of the review are primarily general insurance (car, home, travel, personal accident, gadget, Guaranteed Asset Protection and home emergency insurance), retail banking (personal current accounts and cash savings), gas and electricity and communications (fixed line telephony and broadband, mobile and pay TV). Insights from the healthcare sector have also been included where relevant.
UKRN Investor Guide
On 11 December 2014 the UKRN announced an investor guide. The new guide will support current and future investment in the UK’s regulated infrastructure sectors. The guide was prepared by KPMG and is principally aimed at investors new to one or more of the sectors, but will also be useful for existing investors. The guide aids investors by clearly explaining the regulatory frameworks in five key sectors – aviation, energy, telecoms, rail and water – which support private investment in UK infrastructure.