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Much of the work of a regulator seems to involve zero-sum divisions of the burdens of the utility enterprise. The company says it needs an extra 20%; the consumer advocate says a 10% rate decrease is in order. The regulator cannot satisfy both. Each issue, viewed in isolation, seems to require a decision about how to cut the pie. When the opportunity comes along to expand the pie, many regulators sit up and take notice, and those that do not, should.
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