1887

Governance of Regulators' Practices

Accountability, Transparency and Co-ordination

image of Governance of Regulators' Practices

Regulators operate in a complex, high-risk environment at the interface between the public and the private sectors. They often share some responsibilities for the sectors and industries they regulate with other public institutions. And yet, if the lights go out, tap water stop running, trains break down or phones stop working, they are often held to account. In this challenging environment, the governance of regulators is critical. The role of the regulator and how it co-ordinates with other public institutions, the powers it is given and how it is held accountable for exercising these powers are key elements of a governance architecture that needs to be carefully crafted and appropriately implemented if the regulator is to succeed in combining effective regulation with a high level of trust. This report looks at the way in which four regulators – the Australian Competition and Consumer Commission (ACCC), the Australian Energy Regulator (AER), Portugal’s Water and Waste Services Regulation Authority (ERSAR) and the UK Office of Rail and Road (ORR) – have addressed these governance challenges. The report identifies approaches to implement accountability, transparency and co-ordination and helps identify some lessons that can help guide how these principles can be translated into practice.

English

.

Foreword and acknowledgements

Economic regulators help ensure access to and quality of public utilities, facilitate infrastructure investment and protect market neutrality. They play a crucial role in supporting sustainable and inclusive growth and trust in public institutions. The role of the regulator, how it co-ordinates with other public institutions, the powers it is given and how it is held accountable for exercising these powers together form a governance architecture. This architecture needs to be well crafted and appropriately implemented, if the regulator is to succeed in combining effective regulation with a high level of trust.

English

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error