Rory Sutherland Rory Sutherland

Two industries in need of regulation

But there are couple of industries left which really do need to be regulated

issue 29 August 2015

I had a water meter installed in my flat a few months ago. I looked at it just now and it said ‘13’. I didn’t know what ‘13’ meant, so I went online to check. Apparently, in a few months, four of us have used 13 cubic metres of water, or 13,000 litres.

The £40 I’ll pay for this seems rather a bargain: £40 is highly preferable to carrying 13,000 litres up two flights of stairs. But in any case I needn’t worry about overpaying, because there’s an organisation called Ofwat which keeps an eye on Southern Water to check that they don’t charge me £1 too much for my 13 cubic metres.

Then there’s my electricity bill; that seems fairly good value too. They write me a letter every month which effectively says, ‘You can either pay us £100 and live in the 21st century or you can not pay us and live in the 19th.’

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