Abstract
Advances in generation, transmission, and computerized switching technologies suggest that the power industry could be moved toward market-defined structures and behaviors, supplanting numerous aspects of public utility regulation. Yet state and federal regulators have responded erratically to these underlying changes, often delivering policies at cross purposes. Such inconsistency is unfortunate but understandable, given the divergent interests at stake and the paucity of evidence on key issues. The ongoing regulatory revisionism—that some would describe as an evolution—carries with it a high cost. Participants in the industry cannot clearly picture the future power industry, given the garbled messages from regulators, and consequently invest cautiously, retarding the very market developments considered most promising.
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Houston, D.A. (1991). Privatization of Electricity in the United States. In: Crew, M.A. (eds) Competition and the Regulation of Utilities. Topics in Regulatory Economics and Policy Series, vol 7. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-4048-9_11
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DOI: https://doi.org/10.1007/978-1-4615-4048-9_11
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