My Google Reader threw up an interesting item yesterday from Utility Week that really caught my attention.
The government is reported to be planning to set up a new UK Regulator to replace Ofgem, Ofwat and Wics - to be known as Ofsweg. Given my interest in utilities regulation I couldn't believe my eyes because it seems to me that given the current regulatory "challenges", a new replacement and combined Regulator would be the last thing the industry needs right now.
But it got worse! The article went on to state that "to avoid offending national sensibilities and for tax purposes, Ofsweg will initially be based on the Isle of Man. Later it may relocate to Belfast to share best practice with the Northern Ireland utility regulator or rotate its meetings between London, Edinburgh and Cardiff".
Having now really got my attention, I looked up the article in Utility Week only to find that the article was published on 1 April. This has to be a joke - right?
The government is reported to be planning to set up a new UK Regulator to replace Ofgem, Ofwat and Wics - to be known as Ofsweg. Given my interest in utilities regulation I couldn't believe my eyes because it seems to me that given the current regulatory "challenges", a new replacement and combined Regulator would be the last thing the industry needs right now.
But it got worse! The article went on to state that "to avoid offending national sensibilities and for tax purposes, Ofsweg will initially be based on the Isle of Man. Later it may relocate to Belfast to share best practice with the Northern Ireland utility regulator or rotate its meetings between London, Edinburgh and Cardiff".
Having now really got my attention, I looked up the article in Utility Week only to find that the article was published on 1 April. This has to be a joke - right?