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Jodie McLelland

Analyst

Jodie McLelland is an Analyst at Europe Economics having joined in 2023.

Jodie McLelland is an Analyst at Europe Economics having joined in 2023.

Jodie McLelland joined the firm after completing her Master’s in Economics at Durham University. 

Since joining, Jodie has advised regulatory bodies across a range of sectors, as well as supporting consumer and competition assessments. She recently contributed to a project for the Scottish Government, involving analysing the effects on competition and consumers as a result of a change in regulation to single use plastics.  

Jodie is also contributing to a project for Ofwat, regarding an evaluation of their Code for Adoption. She also recently provided analytical support for Ofgem’s Gas Transmission (GT) team for the RIIO-3 price control, which establishes the regulatory framework for gas transmission in the UK. She was also a lead analyst for a study commissioned by the market operator for the non-household water retail market in England. Her broader experience includes work with other regulatory bodies such as the Civil Aviation Authority (CAA), Office for Rail and Road (ORR), and the Financial Conduct Authority (FCA). 

She has a keen interest in competition policy and industrial organisation; her thesis investigated the anticompetitive effects of pricing algorithms in digital markets. Outside of work, Jodie’s interests include playing tennis, skiing, and baking. 

Contact Details

Ofwat

Our personnel have been seconded multiple times to Ofwat, and we have carried out various discrete studies analysing the water sector from different perspectives. Some of these have involved cost assessment support for RAPID gate two assessment; advising on important aspects of Ofwat’s approach to the cost of equity for PR24 and; assisting with the investigation of the potential for improving Ofwats’s methodology to mergers’ assessment.

Critique of regulatory judgements

One form of legal case involves a challenge to regulatory decisions. We offer expert witness assistant assessing whether regulatory decisions are in line with established policy objectives or regulatory precedent and what the competition or other implications are of those decisions or alternatives.

Assessment of profitability or cost of capital

In regulated price controls, a key input is the determined cost of capital. This has often been a subject of appeals against regulatory judgements. Cost of capital analysis also feeds into assessments of profitability in assessing whether firms have been charging prices above the competitive level, and into the valuation of research pipelines in mergers.

Critique of econometric, quantitative methods or data used to support regulatory decisions

One form of a legal case is judicial revision of policy decisions. Such policy decisions are often supported by quantitative models. Those models can be critiqued in various ways – criticised or defended on the basis of their methodology or the data used.