Consumers face many challenges in complex, essential markets (such as energy, post, transport, digital communications and water) but there are also opportunities over the coming years. It is important that the consumer voice continues to be heard and we are keen to contribute to the design of a strong, expert voice drawing on a deep understanding of markets and regulatory processes across the economy.
Our new Regulated Industries Unit Prospectus (PDF 1.1MB), sets out some of the particular challenges in markets subject to economic regulation and, in the context of the current review on the institutional consumer landscape makes the case for bringing advocacy across the sectors concerned together into a single strong and effective body. By doing so, not only could money be saved by sharing costs but there would be significant synergies between sectors leading to the consumer voice being more clearly and effectively articulated in complex debates and deliberations where difficult trade-offs need to be made.
This document builds on our earlier work (see Regulated Industries and consumers (PDF 365KB) and Consumer Representation for the 21st Century (PDF 383KB) and reflects proposals from the Department for Business Innovation and Skills in its consideration of which organisations should carry out consumer information, advice, education, advocacy and consumer law enforcement duties.
In our view such a Unit would help address the tests which need to be met if consumers are to benefit from changes in the institutional landscape we set out in our consultation response (PDF 1MB).
