Geoff Horton is an experienced economist, consultant and industry regulator. He has been head of the consumer protection half of the Office of Fair Trading, the first electricity regulator for Northern Ireland, director of regulation for electricity in Britain (responsible for price controls etc.), the senior economist at the Department of Energy (responsible for work on electricity privatisation etc.) and a Treasury economist. He is an acknowledged authority on regulatory economics and now works as a consultant in that field, having done so in a dozen different industries and more than twenty jurisdictions. He was born on 23 July 1951.
CAREER DETAILS
Horton 4’s clients are listed on the next page of this CV.
Responsible directly to the Director General for all his consumer responsibilities including the operation of legislation - Consumer Credit Act, Fair Trading Act, Estate Agents Act, Misleading Advertisements & Unfair Contract Terms regulations - and for market reports, e.g. on Pensions, Health Insurance, Used Cars etc. Managed the Consumer Affairs Directorate with 165 staff.
Director General of Electricity Supply, a statutory appointment with sole responsibility for the regulation of the £0.5bn electricity industry in Northern Ireland and for the introduction of the complex regulatory regime.
Director of Regulation and Business Affairs, with particular responsibility for price control reviews (transmission 1992, supply 1993, distribution 1994/5) and enforcement, mergers, economic purchase of generation, price discrimination issues, economic advice, accounts, and modelling.
Senior Consultant: Directed projects on energy economics, regulation, the environment, and macroeconomics
Responsible for economic advice on electricity (including privatisation), coal, energy efficiency, energy projections, and pollution/global warming. Major influence on the design of the Electricity Pool and other aspects of the new industry. UK representative to the energy and industry sub-group of the Intergovernmental Panel on Climate Change.
Responsible for the European macroeconomic service - a substantial forecasting, publishing and research profit centre covering offices in five European countries and with clients around the world. Returned the service to profit.
1984-5 Co-ordinator UK forecast. 1980-4 World Economic Prospects forecast.
1980 Secretary to the academic panel. 1978-80 Co-ordinator industrial forecast.
Lecturing in public sector economics, the British economy, advanced macroeconomic theory, and energy economics.
OTHER APPOINTMENTS
Department of Energy and Climate Change – Member Energy and Climate Security Advisory Panel (2007-10)
Member panel for the provision of economic, financial and related consultancy services to the Gas and Electricity Markets Authority and other UK regulatory bodies (2011 – present)
Postcomm consultancy panel – (2006-2010)
Ofqual Economic Regulation Advisory Group (2010-11)
Panel of advisers to the Chief Executive and Senior Management of the Irish Electricity Supply Board – (2004-08)
Panel of Experts for the Reform of the Water Service in Northern Ireland – (2003-06)
World Bank Expert Review Committee: Thailand Electricity Supply – (1999)
Adviser to the Singapore Government on reform of the electricity industry (1995)
EDUCATION
1974 MSc (Econ) in the Economics of Public Policy - University College, London University
1973 BA & MA (1982), in Philosophy, Politics, & Economics - Exeter College, Oxford University
1971 Honour Moderations in Literae Humaniores (Classics) - Exeter College, Oxford University
HORTON 4 CONSULTING CLIENTS
Regulators
The Rail Regulator (1999-2004 as special adviser and 2012-14 as interim deputy director and adviser) on all aspects of regulation including price control, financial structure, drafting consultation papers etc.
The Electricity Regulatory Authority, Oman (2005–2015) – on regulation including wholesale market design, price control method, franchise restructuring, tendering for generation, cost of capital and the Gulf interconnector cost benefit analysis
Ofqual, as interim head of economic regulation (2009) and as economic adviser (2009- 2010)
Postcomm on separate accounting (2010) and the scope for competition and audit of market entry and postal delivery models (2003)
Ofgem (1998 –1999) on the separation of Public Electricity Suppliers’ supply and distribution businesses and on transmission (and the establishment of a TSO) in Scotland
OFREG (1998 - 99) on the 1998 Competition Act
OFFER (1998) on the 1998 Competition Act
The Office of the Regulator General in Victoria (1998) on the duties of regulators
Other government bodies
The Bank of England (2014 through Penna) assessing economist entry
The Public Authority for Electricity and Water, Oman (2009–2010) on the intellectual framework for energy strategy analysis
Department of Culture Media and Sport (2001 & 2007-08) – on setting the 41st and 47th Horseracing Betting Levies
UK Trade & Investment Special adviser to China & Taiwan (2003), Saudi Arabia (2002)
Turkish Ministry of Energy and Natural Resources (2002) on power market reform.
The Banking Review Team of HM Treasury - Cruickshank Review (1999) on bank profitability
The Russian government (2001) - Expert adviser (through Andersen’s) on electricity reform
Transport for London (2000 – 01) on the bus contractual system
DGXII of the European Commission (1998) on their energy/environment models
The Northern Ireland implementation group (1998) on market opening to conform to the EC Electricity Transmission Directive
Regulated companies
Freshfields (2013-14) as a witness on price control method for assessing competition case damages
Dover Harbour Board (2010-11) on the assessment of its harbour charges
Majis Industrial Services SAOC (2010 -13) on establishing a water subsidy regulation scheme and financial modelling
National Grid Company (2011) on price control submissions & (1999 –2000) expert witness in a dispute over connection charges
Transpower (2011) on the cost of capital
Northern Ireland Electricity (2000–11) – retail, power procurement, system operator, transmission and distribution businesses on strategy, price control, benchmarking, the development and operation of the Irish single electricity market, and competition
Scottish Water Businessstream (2007 & 2008-09) - on regulation, competition in water and the Cave report
EdF/London Electricity (2009) on electricity distribution regulation and (2001) on gas competition
Network Rail (2008) on operating cost benchmarking and on corporation tax and the cost of capital, (2005-06) on price control
FSK, the Russian Electricity Grid (2008 & 2011) on strategy and regulation (subcontracted to Accenture)
Mirant (2007-08) on electricity distribution performance and valuation
Entergy (2004 – 08) on REC electricity profitability in the context of the windfall tax
Guernsey Electricity Ltd (2005 - 07) on price control, the approach to regulatory finance, and the cost of capital
Multinet Gas & SPAusnet (2007 – 08) on productivity growth in Australian gas distribution
Syngenta (2006) on distributed generation in agriculture and on the market for renewable electricity
The Irish Electricity Supply Board (2000-01, 2002-03, 2004, 2005, 2006) – supply business on strategy, price control, competition and benchmarking; generation business on wholesale market pricing; corporate centre on business separation; distribution business on benchmarking and price control; transmission business on price control.
United Utilities Electricity (2001, 2003-04, 2006) on distribution price control, benchmarking and total factor productivity
Viridian Power & Energy (2005) on the Irish single electricity market
Legal advisers to Transco (2004–05) expert witness on the link between utility regulation and safety in gas
Contact Energy (NZ) (2004) on vertical integration between electricity generation and retail sectors
Powergen (Central Networks) (2003-04) on electricity distribution price control and benchmarking
PowerCo (NZ) (2004) Expert witness to New Zealand Commerce Commission on gas competition and price control and, separately, on electricity asset valuation
Comgás (Brasil) (2003) on price control and technology transfer agreements
BG Energy Holdings (2002) on privatisation and regulation in Latin America and the Philippines
Electralink (2002) on the renewal of the UK electricity suppliers' data management system
British Energy (2001- 02) on a contract dispute
Merck Sharp & Dohme (1999-2001) Economic and regulatory adviser on pharmaceuticals
The Post Office (2000) on adapting to regulation
Other
King’s College London (2010-11) Lectures in regulation
Oxford Finance Group (2006) on infrastructure governance
PUBLICATIONS
“Infrastructure Governance” for “The Governance of Market Infrastructure Institutions” – Oxford Finance Group 2009
“International Efficiency Benchmarking in the Network Rail 2008 Periodic Review” and “Tax and the cost of capital in the Network Rail 2008 Periodic Review” – reports for Network Rail 2008
"47th Horserace Betting Levy Scheme" (with J. Mike Thomas and Rod Morgan) - Department of Culture Media and Sport 2008
“Opex Rate of Change and Productivity: Comments on Pacific Economic Group’s Response to Meyrick and Associates’ reports” – report for Multinet & SP Ausnet, published by the Essential Services Commission, Victoria 2007
“The cost of capital of Guernsey Electricity Ltd” - Report to Guernsey Electricity Ltd, published by the Guernsey Office of Utility Regulation 2006
“Review of regulatory finance issues” - Report to Guernsey Electricity Ltd, published by the Guernsey Office of Utility Regulation 2005
"The New Zealand Commerce Commission’s natural gas control inquiry" - evidence to the New Zealand Commerce Commission 2004
"The treatment of non-system assets, intangibles and easements in the New Zealand electricity lines optimised deprival valuation handbook" - evidence to the New Zealand Commerce Commission 2004
Comments on "Concurrency or Convergence? Competition and Regulation under the Competition Act 1998" in “Utility Regulation and Competition Policy” ed. Colin Robinson - Edward Elgar2002
"Determining the 41st Levy scheme" (with J. Mike Thomas and Rod Morgan) - Department of Culture Media and Sport 2002
"The Efficiency Growth Assumption for Railtrack in the 2001-6 Price Control Period" - Office of the Rail Regulator 2000
"The Road Ahead for the Economic Regulation of the UK Medicines Market" (with Tim Williams, Adrian Towse, and Trevor Leighton) - Business Economist October 1999
Comments on "Pool Reform and Competition in Electricity" in “Regulating Utilities: Understanding the Issues” ed. M.E.Beesley - Institute of Economic Affairs/London Business School Readings 48 1998
"British Electricity Privatisation: The Customer's Standpoint" in the proceedings of the British Institute of Energy Economics conference of December 1995 ed. G. MacKerron & P. Pearson - Imperial College Press 1996.
Reports, determinations, directions etc. in Northern Ireland including annual reports and reports on economic purchasing via the proposed interconnector, prices in GB & NI, energy efficiency, and "Competition in the Northern Ireland Electricity Market" - OFFER NI 1993, 1994 and 1995.
"Links between Environmental and International Trade Policies: A Study on the Implications of Greenhouse Gas Emissions Control Policies for Trade" (with James Rollo and Alistair Ulph) - Department of Environment 1992.
NERA reports for the European Commission: "The 1994 Joule Programme" 1991 and (with many others) "The Impact of Liberalisation of Eastern European Economies on the Lagging Regions of the European Community" 1992.
More than fifty articles on exchange rates and on other aspects of the world economy in DRI publications, mainly the DRI European Review 1985-88. Author (with others) of reports including “The Impact of the Oil Price Collapse” 1986 and "The European Single Market" 1988.
"Modelling the World Economy" - HM Treasury working paper 1984.
"The Economic Effects of Lower Oil Prices" (with Stephen Powell) - HM Treasury working paper 1984.
Various press and magazine articles - e.g. Euromoney, International Management, Management Today, Focus, TSB Review.
Selected conference and seminar papers
“Re-evaluating the costs and benefits of UK electricity privatisation” (with Stephen Littlechild) - ISNIE Conference, Boston, 26-8 September 2002
“Utility Regulation: The Regulation of Quality” - Royal Economic Society Conference 1998.
"An Outside Perspective on the Regulator's Task", paper for the Office of the Regulator General for Victoria, Australia 1998.
"The Treatment of Expectations in the Treasury Model", HM Treasury Academic Panel 1980.
"A Small Model of the United Kingdom - Standard Simulations", HM Treasury Academic Panel 1980.
"North Sea Oil and the Manufacturing Sector", GES Microeconomic Seminar 1980.
"The Forecasting of Industrial Output", SSRC Industrial Economics Group 1975.
"The Policy Implications of the Slow Growth of Manufacturing Output" (with Kenneth King), GES Microeconomic Seminar 1975.
Also the author of various government publications and consultation documents, company consultation responses, and conference papers and speeches.