This paper analyses critically the claim made by Levy and Spiller that, in the context of UK utility regulation, licences operate as a 'technology of commitment'. The functional logic of delegation which underpins much principal-agent analyses is discussed, together with the credibility problem...

In this article we chart the development of competition and deregulation of the British retail energy markets, explaining the evolution of competitive constraints when consumers are introduced to supplier choice for the first time. In the context of rising real energy prices for consumers, and...