Effective Regulation of Public Utilities
[O]ne can be concerned about the sustainability of competition and unsatisfied by ritualistic incantations of contestability without necessarily being a reregulator, crypto- or overt. The fundamental assumption of the antitrust laws—that laissez faire is not a sufficient recipe for the preservation of a competitive economy—is as valid today as it was ninety-seven years ago.
Alfred Kahn, "Deregulatory Schizophrenia," California Law Review (May 1987)
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?