This paper evaluates the impact of the tightening in price cap by OFWAT and of other operational factors on the efficiency of water and sewerage companies in England and Wales using a mixture of data envelopment analysis and stochastic frontier analysis. Previous empirical results suggest that...

In a formerly monopolized industry now subject to competition, there is likely to be considerable interaction between business strategy and regulation. The paper illustrates the development of this process in UK telecommunications. It sets out a framework in which competition between incumbent...