UKRN is today pleased to publish its Annual report and new multi-year workplan 2021 In this publication we set out what we achieved last year, and how we will work to improve outcomes for consumers and the economy across the sectors our members regulate, with a focus on three priority areas: Improving outcomes for consumers in vulnerable circumstances or with additional needs Adapting our regulatory approach where appropriate to support the innovation and investment necessary for economic recovery, resilience and growth Strengthening joint regulatory capabilities to meet shared current and future challenges COVID-19 continues to have a significant impact on the consumers and citizens we serve, on our members, and the sectors we regulate. Our approach builds in the ability to respond to changing circumstances as well as ensuring external focus in addition to our inter-member project working. Collaboration between our members on the issues facing the sectors they regulate is more important than ever.
The UKRN publishes Performance Scorecards II UKRN, with the FCA, Ofcom, Ofgem, Ofwat and CCW, have continued to work together to further develop a set of performance scorecards to measure the customer experience across key sectors. Today’s publication, Moving Forward Together – Scorecards II, brings together these scorecards from all four sectors. Each regulator has once again also published their template, plus links to more detailed analysis, on their websites. Understanding the experience of consumers across our sectors, especially during this most challenging of years, remains an important aspect of improving consumer outcomes. Rachel Fletcher, CEO of UKRN, said: “I am very pleased at the way in which our members have continued to work together, building on their extensive sectoral knowledge to create this shared insight. To be able to share this cross sector information, in one place, for the second year, is testimony to the regulators efforts in recognising the important role they can play. I hope this project is helpful to consumer groups and other interested parties in recognising where consumer needs can be best served.” Ensuring regulators work together to measure and improve the consumer experience across our sectors also remains a priority for government. Consumer Minister, Paul Scully said: I am very grateful to the UK Regulators Network and the regulators for compiling this second edition of performance scorecards. Using performance scorecards, consumers can find out which providers are likely to give them the services they need. This enables companies to compete on aspects of service that really matter to their customers. I will continue to work with the UK Regulators Network to support them in this work, and I will encourage the further development of making this information available to consumers. I look forward to this and future editions being a valuable aid to consumer decision-making, and to driving healthy competition. For more information on the scorecards work please contact the UKRN team on firstname.lastname@example.org
UKRN have today published the annual UKRN cost of capital report. This report provides a summary of the most recent cost of capital decisions and analysis by each memberregulator, serving as an easily accessible reference document for those interested in our sectors. It also sets out where regulators share a common approach, and where approaches diverge to reflect differences between sectors, regulatory timings and structures. The report is the product of the UKRN’s cost of capital network. The network brings together specialists from across UKRN members to share expertise and best practice, and to develop shared approaches where appropriate. UKRN members will continue to work collaboratively on these issues, learning from each other, sharing best practice and, where appropriate, aligning our approaches.
UKRN has published research on consumers’ attitudes towards the identification, collection and sharing of data relating to their vulnerabilities. The key findings of the research, undertaken by Revealing Reality, indicate that: The needs of those who would benefit most from the sharing of data are being overlooked – that there was a clear relationship between the severity of vulnerability and openness to disclosing and sharing this data. Firms and consumers overestimate the risks, and underestimate the benefits, of data sharing – where the fear of sharing data is often based on misconceptions stemming from a lack of clarity. The report also highlights the perceived barriers and outlines potential next steps that could enable more sharing of vulnerability data in a way that improves outcomes for consumers. Attricia Archer, UKRN Director says: “This research shows there is an opportunity for us all to work together to find ways to share data, in a way that works for people and is safe, to help make sure those that need support can get it. This is an area where we can all make a real difference for consumers.” Alongside the publication of this research, UKRN is holding an event today – bringing together regulators, businesses, consumer groups and other interested parties – to initiate discussion on how to make the most of this opportunity. A short 5 page executive summary of the report is available here. Please see the download link below for the full report. If you would like to get in touch with us about this work, please contact: Kathryn.Hardy_UKRN@caa.co.uk
UKRN has published research on consumers’ attitudes towards the identification, collection and sharing of data relating to their vulnerabilities. This is an executive summary of the key findings. If you would like to get in touch with us about this work, please contact: Kathryn.Hardy_UKRN@caa.co.uk
UKRN Young Professionals Network (YPN) has published its Newsletter for Autumn 2020. This edition provides a summary of the first all-virtual YPN event in August where representatives from Ofwat, Ofcom and FCA gave an overview of the impacts Covid-19 has had on their sectors. It also highlights the newly established Regulators in Scotland Exchange that brings together regulators with a presence in Scotland, features conversations with new and former YPN representatives, and provides information about the YPN’s regular small-group coffee randomiser.
UKRN have published a literature review into the effects of the UK Regulatory model. This paper has been produced for UKRN by the University of East Anglia’s Centre for Competition Policy (CCP). This paper reviews research on the effects of the UK regulatory model on competition, consumers, investment and innovation, with a particular focus on energy, telecommunications and water sectors. Overall, the regulatory model has largely delivered its initial economic objectives. The paper is not a simple summary of the literature, but an analytical review that integrates the research findings into a concise whole. While not purporting to be primary research, this synthesis does provide some thoughts about areas in which current information seems inadequate or there is particular merit in new or ongoing research. This review is particularly relevant at a time when the role and effectiveness of regulators are being questioned in multiple domains. Maintaining a strong focus on the economic performance of regulated sectors remains of paramount importance for UK consumers and for UK productivity and competitiveness.
This document provides a short, easy to digest set of tips for firms thinking about how they identify consumers in vulnerable circumstances. It is particularly useful for firms looking to improve existing identification strategies and/or bring new ones into practice. These tips are based on existing research and best practice within this this area. This user guide is based on insights drawn from a literature review commissioned by the UKRN on ‘the challenge of identifying vulnerability’. For more information you can find the full literature review here