Embedding broader values in the regulatory model: An analysis of Ofgem's consumer value proposition for the natural gas distribution sector

Helen Poulter*, Ronan Bolton

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract / Description of output

Customer engagement processes introduced in energy network regulation in Britain have incentivised networks to think beyond economic efficiency. To this end, the regulator introduced a new incentive: the Consumer Value Proposition (CVP), allowing companies to use a monetised metric to gain a financial reward should their investments show additional social and environmental value for customers. Through a case study of the RIIO2 natural gas distribution price-control process, we construct a narrative history of the design and assessment of the CVP initiative. We discuss the challenges of implementing such an approach in practice and embedding it in the regulatory model.
Original languageEnglish
Article number101470
Number of pages9
JournalUtilities Policy
Volume80
Early online date9 Dec 2022
DOIs
Publication statusPublished - Feb 2023

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