John Hancock is a New Zealand-based consultant who specialises in technology, market reform and incentive regulation in the energy & utilities sector.
He has been writing a weekly blog in www.energynews.co.nz since August 2008 including audio interviews with some luminaries of energy market design. We're releasing new episodes through this feed and highlights of the back catologue. If you'd like to try a subscription to Energy News email matt.freeman@freemanmedia.co.nz with the header Podcast.
Greg, who's a kiwi but lives in Australia, on how we look from over there
I've just finished a 6-part series as an introduction to the University of Canterbury's new short course on Navigating Regulatory Economics with a lecture that Greg Houston gave at the University last November to launch the course.
I mentioned that I had him on the podcast 14 years ago. I enjoyed it so much I thought we should run it again. Even though he lives in Sydney, he's a kiwi - and remains active in the industry here as well as in Australia and around the world, so he's well positioned to reflect on things here.
We've looked at several issues over the last couple of months that were topical then and still are today - from market manipulation and market power to the policy problems caused by unforeseen events when prices are regulated. Last week he considered whether recent Australian experience has anything to teach us about how to solve those problems. In this, the final interview in the series, Greg reflects on NZ's approach to economic regulation and market design and how it compares internationally.If you want to hear more from Greg, he's a featured expert in the Navigating Regulatory Economics short online course from the University of Canterbury.
New topic next week – will be just as topical but new!
30 Jul 2026
Greg Houston (2012): Moral hazard and bushfires
Australia may not have earthquakes but has its response to other natural disasters got anything to teach us?
I've just finished a 6-part series as an introduction to the University of Canterbury's new short course on Navigating Regulatory Economics with a lecture that Greg Houston gave at the University last November to launch the course.
I mentioned that I had him on the podcast 14 years ago. I enjoyed it so much I thought we should run it again. Even though he lives in Sydney, he's a kiwi - and remains active in the industry here as well as in Australia and around the world, so he's well positioned to reflect on things here.
Last week he asked how we should cope with unforeseen events when prices are regulated. This week he considers whether recent Australian experience has anything to teach us about how to solve those problems. The first time I wrote about Moral Hazard on the blog was in 2009 where I quoted Pulitzer Prize winner and Wall St Journal columnist Daniel Henninger's marvellous:
Moral Hazard. It sounds like the name of a failed town in a Clint Eastwood western. We all live there now.
If you want to hear more from Greg, he's a featured expert in the Navigating Regulatory Economics short online course from the University of Canterbury.
Next week's the last in this series: how we look from the other side of the ditch.
23 Jul 2026
Greg Houston (2012): Who pays for earthquake damage when prices are regulated?
The problems of regulating for unforeseen events
I've just finished a 6-part series as an introduction to the University of Canterbury's new short course on Navigating Regulatory Economics with a lecture that Greg Houston gave at the University last November to launch the course.
I mentioned that I had him on the podcast 14 years ago. I enjoyed it so much I thought we should run it again. Even though he lives in Sydney, he's a kiwi - and remains active in the industry here as well as in Australia and around the world, so he's well positioned to reflect on things here.
Last week he looked at how you actually go about defining a market for generation. This week he looks at the policy problems around what was, post-Christchurch earthquakes, another topical issue in NZ (and still is, really) - how you cope with unforeseen events when prices are regulated.
If you want to hear more from Greg, he's a featured expert in the Navigating Regulatory Economics short online course from the University of Canterbury.
Moral hazard next week. It's not the first time I've had that on the blog.
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