Electric utilities throughout the world continue to face new challenges involving ownership, market structure, and regulation. There are three related issues at hand. First, should ownership be private or public? Second, what operations should be integrated and where is competition feasible? Third, where is regulation necessary and can it be made more efficient? This volume bears directly upon these concerns.
The book contains two sections. The first six articles discuss the British electricity experiment that has privatized and disintegrated the nation's generation, transmission, and...

Michael A. Einhorn In continuing to deregulate telecommunications companies, regulators have begun to consider alternative approaches to traditional cost-based price regulation as a means of encouraging monopoly efficiency, promulgating technological innova- tion, protecting consumers, and reducing administrative costs. Under cost-based regulatory procedures that had been used, prices were designed to recover the regulated company's costs plus an allowed rate of return on its rate base; this strategy was costly to administer, provided no consistent incentives to cost-ef- ficiency and...