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UCL held a Workshop on:

Trading Water in the UK

Policy, economics, engineering, & modelling

Wednesday July 11, 2012, University College London

This workshop invited academics, regulators and government to discuss how water markets at regional and catchment scales could become operational in England and Wales to help reduce the economic cost of water scarcity.

Introduction

13:35 8-10 minute talks and 5 minute discussions by (in reverse alphabetical order):

· Mike Young (Univ. of Adelaide, UCL), “Elements of a generic framework for water allocation and management in the UK: A view from down-under”

· Keith Weatherhead (Cranfield Univ.), "Trading in the agricultural irrigation sector"

· Jon Stern (City Univ. London), “Economics for abstraction licensing reform”

· John F. Raffensperger (Univ. of Canterbury, NZ), "Smart markets for water: a practical approach to initial rights and frequent re-allocation."

· Gordon Hughes (Univ. of Edinburg), “What could go right and wrong with UK markets”

· Richard Howitt (Univ. of California at Davis), “Lessons from California water trading”

· Julien Harou (UCL), “Can modellers help with water policy design?”

15:20-15:30 tea & coffee break

The talks were followed by a structured discussion on how policy design and regulatory reform can enable water markets in practice. The discussion was split between 'local' abstraction license trading and water company 'regional' trading. 

15:30 Henry Leveson-Gower (DEFRA), “Introduction to abstraction license reform”

15:35 Discussion: “What is effective reform? How will it reduce the economic cost of scarcity?”

16:00 Jon Ashley (OFWAT), “Introduction to water company trading reform”

16:05 Discussion: “What is effective reform? How will it reduce the economic cost of scarcity?”

16:30 Close

16:40-17:00 Discussion & joint editing of the outline of a joint journal paper on this topic.