Don’t Look Back in Anger

CC rejects retrospective regulations in Phoenix gas case

In February 2012 Phoenix Natural Gas Limited (PNGL*) rejected the price control proposed by the Northern Ireland energy regulator (UR). UR subsequently referred the price control to the Competition Commission (CC) to investigate whether the price control conditions operated against the public interest.

The CC’s decision will have implications for all UK regulators, since it bolsters the credibility of regulatory commitments by underlining the costs of retrospective regulatory interventions.

Don't Look Back in Anger