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Topics in Regulatory Economics and Policy

Regulating Power: The Economics of Electrictiy in the Information Age

The Economics of Electricity in the Information Age

Authors: Pechman, Carl

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eBook $59.99
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  • ISBN 978-1-4615-3258-3
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  • Immediate eBook download after purchase
Softcover $79.99
price for USA in USD
  • ISBN 978-1-4613-6433-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this book

Modem industrial society functions with the expectation that electricity will be available when required. By law, electric utilities have the obligation to provide electricity to customers in a "safe and adequate" manner. In exchange for this obligation, utilities are granted a monopoly right to provide electricity to customers within well-defmed service territories. However, utilities are not unfettered in their monopoly power; public utility commissions regulate the relationship between a utility and its customers and limit profits to a "fair rate of return on invested capital. " From its inception through the late 1970s, the electric utility industry's opera­ tional paradigm was to continue marketing electricity to customers and to build power plants to meet customer needs. This growth was facilitated by a U. S. energy policy predicated upon the assumption that sustained electric growth was causally linked to social welfare (Lovins, 1977). The electric utility industry is now in transition from a vertically integrated monopoly to a more competitive market. Of the three primary components (generation, transmission, and distribution) of the traditional vertically integrated monopoly, generation is leading this transformation. The desired outcome is a more efficient market for the provision of electric service, ultimately resulting in lower costs to customers. This book focuses on impediments to this transformation. In partiCUlar, it argues that information control is a form of market power that inhibits the evolution of the market. The analysis is presented within the context of the transformation of the U. S.

Table of contents (10 chapters)

  • Introduction

    Pechman, Carl

    Pages 1-8

  • The Actors in the Market Governance Structure

    Pechman, Carl

    Pages 9-31

  • The Regulatory Process: Principals, Agents, and Information Flows

    Pechman, Carl

    Pages 33-54

  • The Dynamics of Inter-Utility Cooperation

    Pechman, Carl

    Pages 55-76

  • Model-Limited Choice and the Determination of the Need for Generation Capacity

    Pechman, Carl

    Pages 77-97

Buy this book

eBook $59.99
price for USA in USD (gross)
  • ISBN 978-1-4615-3258-3
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $79.99
price for USA in USD
  • ISBN 978-1-4613-6433-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Regulating Power: The Economics of Electrictiy in the Information Age
Book Subtitle
The Economics of Electricity in the Information Age
Authors
Series Title
Topics in Regulatory Economics and Policy
Series Volume
15
Copyright
1993
Publisher
Springer US
Copyright Holder
Kluwer Academic Publishers
eBook ISBN
978-1-4615-3258-3
DOI
10.1007/978-1-4615-3258-3
Softcover ISBN
978-1-4613-6433-7
Edition Number
1
Number of Pages
XIII, 229
Topics