Ook Royal mail stoeit met de regelgeving t.a.z.postlevering,het aandeel -1,5%
egulatory review
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07:59 01 Mar 2017
The watchdog has determined that regulatory intervention is unnecessary for Royal Mail
Royal Mail
Ofcom will leave postal rules in place for five years
Royal Mail plc (LON:RMG) has been offered a reprieve after Ofcom confirmed it will not impose price controls on the postal company’s services following a review by the regulator.
In a statement published today, Ofcom said it would maintain its current regulatory approach for the next five years.
The review follows concerns that Royal Mail no longer faced competition in the delivery of letters after Whistl withdrew from the UK in 2015.
“We consider that the imposition of wholesale or retail price controls and/or efficiency targets on Royal Mail would not be appropriate in order to secure the objectives of the regulatory regime,” it said.
While Ofcom acknowledged Royal Mail’s dominance over the letters delivery market, it said the company has only raised prices modestly since 2012.
The group increased prices significantly between 2011 and 2012 to return to profitability but hikes thereafter have been “relatively restrained”, the watchdog noted. Royal Mail lost more than £120mln in its struggling letter division in 2011 due to rising competition from technology.
“We do not agree that regulatory intervention is necessary to secure the provision of the universal postal service at this time,” Ofcom added.
“We consider that commercial flexibility, subject to certain safeguards, along with the achievement of a reasonable rate of efficiency improvement, is the most likely means by which Royal Mail will be able to secure the financial sustainability of the universal postal service despite the challenges it faces.”
Ofcom said it was, however, implementing changes that will reduce the advance notice period for latest delivery times.
The current postal common operational procedures (PCOP) condition and code of practice will remain in place to ensure that mail which enters the wrong postal operator’s network is returned to the intended operator, and delivered to the recipient, as soon as possible.
Royal Mail, which floated on the London Stock Exchange in 2013 after the government sold off its stake, said it as reviewing Ofcom’s statement and would issue a statement in due course.