Led cost and outputs work for RIIO-T1, RIIO-GD1, DPCR5, GDPCR1, TPCR4 rollover. Led quality of service work for DPCR4. Currently working on the RIIO-ED1 price controls Specialties: Price control expert with 15 years experience, Network Regulation, Economic Analysis, Benchmarking, Cost Assessment, Econometrics, Incentive and Policy Design

Senior Adviser, RIIO Price Controls, Smarter Grids and Governance: Distribution @ Leading the Cost Assessment work on the RIIO-ED1 Price Control. Providing advice, strategic input and support to the RIIO-ED1 price control. Providing advice on other price controls and network issues From March 2013 to Present (2 years 10 months) Associate Partner, Network Costs and Outputs @ Head of the Ofgem Costs and Outputs team consisting of approximately 27 people from a mixture of disciplines including economics, accountancy and engineering. Responsible for the Cost Assessment for RIIO-T1, RIIO-GD1 and the TPCR4 rollover. Responsible for monitoring performance against key schemes such as the Interruption Incentive Scheme (IIS) for electricity distribution From August 2011 to March 2013 (1 year 8 months) Head of Network Costs and Outputs @ Led the Network Cost assessment team in Ofgem. Responsibility for the Cost Assessment work on the TPCR4 rollover, RIIO-T1 and RIIO-GD1. Delivery of the assessment of historical costs and future efficient costs for each of the above price controls. Project management of a large scale cost assessment exercise over a period of 2 years including responsibility for developing the overall approach and timetable for the work and leading the analysis. Leadership of a team of approximately 27 internal staff plus consultants Responsibility for managing a consultancy budget of around £1m. Responsible for developing the terms of reference for the consultants' work, appointments and overall oversight of their work. Leading Cost Visits to the Networks Presentation of our analysis at board level within our division, to the Executive and Authority members and to the industry Main point of contact for the industry regarding the cost analysis work. This includes leading cost visits to the companies and hosting meetings and working groups with the companies at our offices From November 2009 to August 2011 (1 year 10 months) Head of Electricity Distribution Costs and Outputs @ From January 2007 to August 2011 (4 years 8 months) Head of Gas Distribution Costs and Outputs @ From August 2005 to January 2007 (1 year 6 months) Head of Quality of Service Regulation @ Delivered improved quality of service standards and incentives as part of the Electricity Distribution Price Control Review (DPCR4). This included new standards for storm compensation and a revised financial incentive scheme to encourage improved performance relating to supply interruptions and the quality of telephone response, including developing the final design of the interruptions scheme and carrying out the target setting work Monitored and enforced the existing quality of service standards and incentive arrangements for electricity and gas distribution (including audits of data and adjustments for exceptional events) Responsible for managing standards of performance determination for disputes between consumers and the electricity distribution network owners (including over 3,000 determinations following the October 2002 storms) Development of new methods for comparing service reliability across electricity distribution networks and setting targets for interruption performance Assisted in the development of interruption and telephony incentives through the Information and Incentives Project Leadership of a team of 4 to 5 internal staff plus consultants. Responsible for recruitment, management and development of staff Responsible for large consultancy budgets. Responsible for developing terms of reference for consultants, appointment and overall oversight of their work Presentation of our analysis at project board level, to the Exec and Authority and to the industry Drafting consultation documents presenting our analyses of quality of service performance and policies to develop an improved quality of service framework From September 2001 to August 2005 (4 years) Senior Assistant Economist, Transportation Pricing @ Delivered the review of Transco's distribution charging methodology Responsible for assessing Transco's pricing consultations (including providing recommendations to senior management on whether or not to accept proposed changes to their charging methodology) Led the investigation in Transco's CSEP admin charge Enforcement of the existing price control arrangements Led the development of new quality of service arrangements for gas distribution as part of the Transco price control review From October 1999 to September 2001 (2 years) Temporary Lecturer @ Lecturer in micro and macroeconomics. This included lectures on introductory macroeconomics and the British Economy and various aspects of British regulatory arrangements to groups of between 50 and 100 students Classes in economics with smaller groups of students on micro and macroeconomics Responsible for setting and marking essays and exam scripts for my lecture groups From October 1998 to September 1999 (1 year)

Ph.D, Economics @ Southampton University From 1995 to 2000 M.Sc. Economics with Distinction, Economics, Econometrics and Quantitative Economics @ Southampton University From 1994 to 1995 M.A. Philosophy, Politics and Economics 2:i @ St. Edmund Hall, Oxford University From 1989 to 1993 Chris Watts is skilled in: Energy Regulation, Benchmarking, Cost assessment, Incentive design, Policy Analysis, Economic analysis, Regulatory Affairs, Regulatory Requirements, Regulatory Policy, Report Writing, Economics, Stakeholder Management, Energy Markets, Energy, Econometrics