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  4. carr-CCRP Round Table: The economic regulation path towards a zero carbon economy




carr-CCRP Round Table: The economic regulation path towards a zero carbon economy



This event is due to take place later in the year.

The Panel Discussion will be held under the Chatham House Rule

Event Overview

With the UK and the EU both committing to climate neutrality (net zero carbon) by mid-century this will bring big changes to regulated sectors. This will mean that utility regulation will have to be satisfied it is ready for net zero.

In this event, hosted at City University of London, we will thematically cover the issues for utility regulation in relation to the zero-carbon economy.

On energy innovation, we will provide insights on the interconnection and integration of renewable energy, carbon pricing and international climate changes. This will include the role of the recently established National Grid ESO.

We will also cover aspects of water and environmental regulation, which are at the forefront of action on climate adaptation.

The BoE via the work of the Climate Risk Forum will bring their perspectives on the financial aspects. We will also draw on the very active debate on the role of central banks in mitigating the risks from environmentally unsustainable economic activities as part of their primary duties of delivering monetary and financial stability.

Finally, we will reflect on the Spanish experience from the political economy of economic regulation and change in institutional set up.

Event timings

10.30 – Registration & coffee
11.00 - Round table begins
13:00 - Networking lunch
14:00 - Close

Speakers and Panellists

Round Table Chairman

Dr Xeni Dassiou (Director, CCRP, City, University of London)

Panel Members

Professor Kern Alexander, Chair of Law and Finance, University of Zurich

Ms. Hannah Nixon, Independent Non-Executive Director, National Grid ESO

Professor Paul Grout, Senior Advisor on Competition, Bank of England &

Non-Executive Director, Ofgem

Professor Michael Grubb, Energy and Climate Change, UCL Institute of Sustainable Resources

Mr. Ronan Palmer, Programme Leader, E3G

Dr Francesc Trillas, Department of Applied Economics, Autonomous University of Barcelona

Speaker biographies

Kern Alexander

Professor Kern Alexander holds the Professorial Chair in Law and Finance and is Professor of Banking Regulation at the University of Zurich. Professor Alexander is an internationally recognised expert who has authored books and articles on international financial regulation and European Union and British banking and securities regulation. He is the author of many research articles and books, including most recently Principles of Banking Regulation (Cambridge University Press, 2019) and Brexit and Financial Service (co-author Moloney et al, 2018). He has served since 2009 as a regulatory and policy adviser to the European Parliament, the G20, and the United Nations Environment Programme.  His report, Stability and Sustainability in Banking Reform: Are Environmental Risks Missing in Basel III (Cambridge, 2014) read more was the first study of the interrelationship between banking regulation, environmental sustainability and climate change.  He is the Founder of the Research Network for Sustainable Finance,

He has taught financial regulation, UK corporate & financial law, micro-economics, international economics and international trade law at the University of Cambridge, Queen Mary University of London and the University of Warwick. He is a Senior Research Fellow at the University of Cambridge Centre for Risk Studies and is a Senior Research Fellow in Financial Services Law and Regulation at the Institute of Advanced Legal Studies, University of London. He also advises European banking institutions on corporate governance, risk management and environmental sustainability and has taught executive education courses on banking regulation and bank governance for many major global banks for over fifteen years.

Xeni Dassiou

Dr Xeni Dassiou is a Reader of Economics and the Director of the Centre for Competition and Regulatory Policy (CCRP) at the School of Social Sciences at City, University of London. She is also a CMA and an Ofgem academic panel member.

Her research interests lie in the area of industrial organisation theory and competition policy and she has worked in this area for the last 25 years. She has written numerous papers on the economic theory of bundling as an instrument of price discrimination, both on a mathematical platform as well as on the economic policy related implications of bundling in government procurement and financial regulation.  She has also published papers on the institutional arrangements, oversight and competition in public service markets, modelling the formation and updating of trust perceptions in infrastructure contracts, the role of herding in determining managerial and investment behaviour, and the impact on the returns of UK companies involved in failed hostile mergers.

Xeni has given numerous invited talks on behavioural issues in regulation and competition, public service markers regulation, organised several CCRP workshops and annual competition policy roundtables, as well as edited journals on topics such as the regulation of infrastructure utilities and competition in modern market structures.

Paul Grout

Paul Grout is Professor of Political Economy at the University of Bristol.

He is also a Non-Executive Director of Ofgem (the UK energy regulator), a member of Ofgem's Remuneration Committee and Chair of Ofgem's RIIO2 (i.e., networks regulation) Committee, is the Senior Advisor for Competition at the Bank of England, is Chair of the Gambling Commission's Expert Advisory Group for the 4th National Lottery Competition, and a member of Ofcom's (the UK regulator of communication industries) Academic Panel.

He was founding director of the Centre for Market and Public Organisation; was a member of the Executive Committee, Council and trustee of the Royal Economic Society; the inaugural Tinbergen Research Fellow at the Netherlands Bureau for Economic Policy Analysis, was on the Editorial Board of the Review for Economic Studies and director of the Review of Economic Studies Ltd for many years; and is a Research Fellow of CEPR.

He has advised many UK and international government departments and public bodies; has been advisor to the House of Lords Economic Affairs Committee; and a member of a CBI Taskforce. Recent keynote addresses include speeches at the World Bank; IESE (Barcelona); OECD, and European Commission’s Euro Social Taxation Conference (Mexico).

Michael Grubb

Michael Grubb is Professor of Energy and Climate Change at University College London, Institute of Sustainable Resources and Energy Institute.  From 2011-2016, alongside academic roles, he worked half-time at the UK Office of Gas and Electricity Markets (the energy regulator, Ofgem) as Senior Advisor, and then Chaired the UK government’s Panel of Technical Experts on Electricity Market Reform. His former positions include Senior Research Associate in Economics at Cambridge University; Chair of the international research organization Climate Strategies; Chief Economist at the Carbon Trust; Professor at Imperial College; and head of Energy and Environment at Chatham House.

Professor Grubb was founding Editor-in-Chief of the journal Climate Policy, and served on the UK Climate Change Committee, established under the UK Climate Change Act to advise the government on future carbon budgets and to report to Parliament on their implementation.  In 2013 he was advisor to the House of Lords European Affairs Committee Enquiry on European energy policy, published as No Country is an Energy Island.

Internationally, Prof Grubb was formerly a member of the International Advisory Council of the International Association for Energy Economics and is now on the Scientific Advisory Board of the German Economics Research Institute DIW Berlin, and advisor to the Foreign Office’s UK- China Energy and Low Carbon Economy Programme.

Michael Grubb is author of eight books, over fifty journal research articles, and numerous other publications. His book Planetary Economics brings together the lessons from 25 years of research and implementation of energy and climate policies, with a full Chinese translation published last year. It has received widespread accolade as a ‘seminal’ contribution, ‘comprehensive and profoundly important’ for its development of a wider theoretical framework of economics, and its application to the practical policies for tackling energy and climate change challenges.

Hannah Nixon

Hannah has extensive experience in economic regulation working across a number of sectors in both private consultancy and within a number of regulators, most recently as Chief Executive Officer of the Payment Systems Regulator (PSR).

After graduating from Cambridge University, Hannah chose investment banking with Deutsche Bank and worked in London, Frankfurt and Sydney, achieving promotion to Vice President within six years.

A brief spell at the Office of Rail Regulation followed before Hannah joined Ofgem as Senior Partner at Ofgem. Here she led the division responsible for the electricity and gas networks, developing and implementing the RIIO price control framework, and co-chairing the Smart Grid Forum with DECC.

She was also a member of several advisory boards, including the Government Economics Service, the ORR advisory panel and water regulator Ofwat’s Future Regulation advisory panel.

Hannah is currently an Independent Non-Executive Director for the National Grid ESO. She also sits on the board of the Channel Islands Competition & Regulatory Authority (CICRA) where she has developed experience in compliance and risk, and financial management as Chair of its Audit and Risk Committee.

Ronan Palmer

Ronan leads E3G’s clean economy programme.

He joined E3G in May 2019 from Ofwat, the water regulator for England and Wales, where he was Director of Strategy.  Prior to that, he was Chief Economist for the English Environment Agency. He has also worked for the National Grid Company and the UK Department of Environment.

Ronan has broad experience in regulation, economic and environmental, and in infrastructure and climate adaptation. He sits on advisory panels for the Centre for Climate Change Economics and Policy, Sussex Energy Group and Twenty65, among others.

He is passionate about inclusion and disability rights, and a lover of language.

Dr Francesc Trillas

Francesc Trillas is an economist at Autonomous University of Barcelona. He has a PhD from the European University Institute in Florence, and was a Research fellow at the London Business School and a Visiting Scholar at UC Berkeley. He has published on the institutions and political economy of regulation.

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When and where

10.30am - 2.00pmFriday 13th March 2020

City 125 Suite (F301/F302/F303) City, University of London Northampton Square London EC1V 0HB United Kingdom

Contact Details

City Events Team

+44 (0)20 7040 8037

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