Effective Regulation of Public Utilities
The central, continuing responsibility of legislatures and regulatory commissions [is] finding the best possible mix of inevitably imperfect regulation and inevitably imperfect competition.
A. Kahn, The Economics of Regulation: Principles and Institutions
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?