As a veteran of the regulatory sector, Chris Bolt is accustomed to making tough decisions. Yesterday the chairman of the Office of Rail Regulation said that he was minded to refer the leading train stock leasing companies to the Competition Commission over fears that they had been making excess profits.
An economist by training, Mr Bolt joined the Civil Service in 1975 and worked for several government departments, including the Treasury and the Home Office, before joining the Department for Environment team responsible for privatising the water industry and setting up its first regulatory regime. He next became head of economic regulation at Ofwat, the independent water regulator, joining the Office of the Rail Regulator in a similar role in 1994. Mr Bolt joined Transco, which owns and operates most of Britain’s gas transport system, in 1999 and was appointed group director of regulation and public policy at Lattice Group, Transco’s parent company, two years later.
He was appointed chairman of the Office of Rail Regulation on July 4, 2004.