ICS Consulting has a track record in providing assurance and oversight on regulatory panels.
One example was our appointment to the NIAUR PC13 Technical Oversight Committee. The PC13 Technical Oversight Committee had an oversight and challenge role for PC13 (i.e. the two year price control from 2013-15).
The project involved advising on the regulatory framework. Assurance and oversight was provided in three key specialisms :
Network Regulation – approach to asset management, performance monitoring, risk assessment, asset modelling and plan balancing
Financial Regulation – financial modelling and link to K-factors
Comparative Efficiency & Performance – setting efficiency targets, operational and capital, and related economic and regulatory issues
The process involved NIAUR preparing briefs on its regulatory proposals. These were then reviewed by the committee members prior to review meetings where the proposed approaches were subject to robust challenge prior to publication.
ICS was appointed as the lead for Comparative Efficiency and Performance. However our role involved providing oversight across the three key specialisms.