Imrecon

Experience of codifying the dynamics of regimes and modelling policy forms a basis for exploring and developing regulatory policy options. 

Policy modelling is an important foundation of Imrecon's policy work.  Codifying an aspect of a regime in a model is analogous, and often equivalent, to codifying it for a licence term or regulatory policy statement.

Developing options 

Imrecon uses this approach to develop options for:

• error correction and price-smoothing terms in price control formulae
• controlled flexibility for differential prices for different classes of users in price control formulae
• 'menu regulation'
• various trigger mechanisms
• rolling incentive mechanisms
• service performance regimes
• longer term strategic incentive regimes

Assessing options

Imrecon believes that developing policy options is best carried out within an assessment framework.  Just as choosing between options requires the relative impact of each to be considered, developing those options is best informed by a clear understanding of the dynamics involved.  Such a diagnostic framework provides insights into both those dynamics and the logical structure of the problem being considered, which together help inform the structure of the potential solutions.

In this way, Imrecon's structured approach aims to explore the possible options systematically to generate not only a range of possible candidates for consideration but also their rationale.