28th May 2008
Regulation matters
Every once in a while we are reminded of the importance of independent regulation in certain areas. This morning the Consumer Council reminded us of the importance of strong independent regulation in the electricity market. In the midst of a global energy crisis it is critically important that energy companies are scrutinised independently and consumers and operators are treated fairly. In the long run this is the only way to guarantee sustained public confidence in the system and protect it from the possibility of commercial or political interference.
Personally I was disappointed when the Minister for the Environment, Arlene Foster, opted against the establishment of an independent environmental regulator yesterday. Some are suggesting she is putting short term politics ahead of long term environmental protection. This move will not cost her a single vote nor will it create a public outcry. The issues are technical and the man and woman on the street will not know the difference between a rebranded EHS and a fully independent regulator. That is until there is a crisis and questions are being asked about whether the environmental watchdog is able to behave independently of political or commercial pressure.
It was Churchill who said the price of democracy was eternal vigilance. The point of independent regulation, be-it in energy or the environment, it to be the independent arbiter. This is easier said then done.
Every once in a while we are reminded of the importance of independent regulation in certain areas. This morning the Consumer Council reminded us of the importance of strong independent regulation in the electricity market. In the midst of a global energy crisis it is critically important that energy companies are scrutinised independently and consumers and operators are treated fairly. In the long run this is the only way to guarantee sustained public confidence in the system and protect it from the possibility of commercial or political interference.
Personally I was disappointed when the Minister for the Environment, Arlene Foster, opted against the establishment of an independent environmental regulator yesterday. Some are suggesting she is putting short term politics ahead of long term environmental protection. This move will not cost her a single vote nor will it create a public outcry. The issues are technical and the man and woman on the street will not know the difference between a rebranded EHS and a fully independent regulator. That is until there is a crisis and questions are being asked about whether the environmental watchdog is able to behave independently of political or commercial pressure.
It was Churchill who said the price of democracy was eternal vigilance. The point of independent regulation, be-it in energy or the environment, it to be the independent arbiter. This is easier said then done.
Posted in Business, Corporate Communications, Environment, Politics, Public Affairs, Public Relations, Science, The Media | No Comments »
