Penelope Banks 


Penelope has a wealth of experience advising clients across our regulatory, competition and public policy practice areas.  She enjoys leveraging her interest and experience in economics to deliver robust analysis, which is clearly and succinctly communicated.

Across our regulation practice, she has successfully supported Yorkshire Water through the CMA’s redetermination process on key issues such as financeability; advised multiple energy companies in relation to RIIO-2; and worked as part of the team which recently undertook a detailed review of the non-household water retail market.

As part of her work in competition, she has advised on the risk of potential mergers in relation to the CMA’s merger clearance process across a range of sectors including logistics, healthcare, and manufacturing.  She was also part of the team which advised the parties on the Tobii/Smartbox merger review by the CMA and the appeal to the CAT.

In relation to public policy, she has advised the Department for Business, Energy and Industrial Strategy (BEIS) on the economic impacts of changes to its oil and gas licensing regime; the Department for International Trade (DIT) on how best to evaluate its inward investment activities; and the Department for Digital, Culture, Media and Sport (DCMS) on skills shortages in the hospitality sector.

Penelope joined Economic Insight after graduating with a distinction and a commendation for academic achievement in Behavioral Economics and Finance from the University of Exeter.  She also holds an undergraduate degree in Land Economy from the University of Cambridge.

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