Professor Michael Waterson, PhD, was visiting researcher at the ZEW Research Group "Competition and Regulation" from September 17-25, 2012. Michal Waterson is Professor at the University of Warwick, UK. He was the general editor of the Journal of Industrial Economics, President of the European Association for Research in Industrial Economics (EARIE) as well as a specialist advisor to a Select Committee of the House of Lords. Moreover, he was a member of several editorial boards for journals, e.g. the International Journal of Industrial Organisation. His current research activities in industrial economics include the development of competition in energy supply and the modeling of vertical linkages and market entry in various industrial sectors. During his stay, he focused on questions regarding the energy sector. His research activities at ZEW were located within the framework of the Helmholtz Alliance "ENERGY TRANS", of which ZEW is a member.