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UTILITY WEEK | 1ST - 7TH SEPTEMBER 2017 | 17 Policy & Regulation Nick Fincham, strategy and regulation director, Thames Water Fincham was appointed strategy and regulation director in April 2011, having previously served as head of regulation from June 2010. Before joining Thames Water in 2010, he spent six years as director of economic regulation and competition policy at the CAA – where he helped pioneer the use of "con- structive engagement" in price control reviews, and successfully promoted the deregulation of Manchester and Stan- sted airport. Prior to the CAA, Fincham held sen- ior positions at regulators including Ofgem, Offer, Ofgas and Postcomm. In these roles, he oversaw a number price control reviews. In 2003, he also set up a small consultancy company – Black Island Consulting – to provide advice to regulators and the UK government. The outliers Paul Smith, head of policy, Payment Systems Regulator Smith stepped into the role of head of policy at the Payment Systems Regulator (PSR) in February 2016, with responsibility for leading the development of regulatory policy and working with the industry to deliver the statutory objectives of the organisation. This includes ensuring that payments systems are operated and developed in the best interests of businesses and consumers, promoting competition within the industry and supporting innovation in payments systems. An economist by trade, Smith has a strong track record in economic regu- lation in both Britain and Australia. He has held various senior roles at Ofgas (now Ofgem) and Postcomm (now Ofcom). Immediately prior to joining PSR, Smith was chief executive of the Aus- tralian Energy Market Commission, having been promoted from the posi- tion of senior director of strategy and economic analysis. He also spent four years as principal of Cambridge Eco- nomic Policy Associates. Tony Ballance, director of strategy and regulation, Severn Trent Ballance is director of strategy and regulation at Severn Trent. His exten- sive experience in utility policy and regulation leaves him ideally placed to lead the company's strategic and regu- latory work, and make him a prime candidate for the role of Ofwat chief executive. Prior to joining Severn Trent, he held the posts of chief economist for Ofwat, director of London Econom- ics and director of Stone and Webster Consultants. The dark horse Alan Sutherland, chief executive, Water Industry Commission for Scotland Sutherland has been chief executive of Wics since it was established in 2005. Prior to the Scottish regulator's estab- lishment, he was the water industry commissioner – a role he took up in 1999. Sutherland is a well-respected and well-known figure in the Scottish water industry, and has extensive experience in both price controls and market com- petition. Under his supervision, the sector has become much more efficient – both operating and capital costs are down by around 40 per cent on a like-for-like basis – and performance standards have improved markedly. Competition was successfully intro- duced into the Scottish market in 2008, and became the first open water mar- ket in the world.