My appointment as a specialist panel member at the Competition and Markets Authority came to an end this month with the publication of the PR24 water redeterminations. I joined the panel in October 2017. My eight-year term expired in October 2025, but was extended to allow me to complete the PR24 process - something I was glad to do. The CMA panel is an unusual institution. It sits at arm's length from the CMA's executive, convened case by case to make final decisions in Phas

The Government's consultation on changes to the UK competition regime closed on 31 March 2026. The centrepiece of the proposal - the replacement of the CMA's independent panel with a Board sub-committee - would, if implemented, represent the most significant structural reform of the CMA since its establishment. Having left the panel last month after eight years as a specialist member, I want to say something about what is actually at stake. The current system keeps a structur

On 10 March 2026, the CMA submitted its final determinations in the PR24 water redeterminations to Ofwat, concluding the statutory 12-month process. The full report was published on 26 March 2026. The CMA confirmed £463 million in additional revenue for the five disputing companies - Anglian, Northumbrian, South East, Southern and Wessex - for the AMP8 control period 2025 to 2030, representing 17% of what the companies had requested. The allowed rate of return for the appoint