Effective Regulation of Public Utilities
Equity is notoriously difficult to define, but it implies at least that producers do not secure rewards in excess of what is needed to call forth the amount of services supplied.
F.M. Scherer and D. Ross, Industrial Market Structure and Economic Performance, p.4 (1990)
Indiana Utility Regulatory Commission: Risks of overcharging ratepayers using "fair value" rate bases
Indiana’s utility statute required rates to reflect “fair value.” Was there a way for the Commission to honor the statute without causing excess return on equity investment?