Effective Regulation of Public Utilities
[T]he word "right" is one of the most deceptive of pitfalls; it is so easy to slip from a qualified meaning in the premise to an unqualified one in the conclusion. Most rights are qualified.
American Bank & Trust Co. v. Federal Reserve Bank, 256 U.S. 350, 358 (1921)
Infrastructure, Market Structure, and Utility Performance: Is the Law of Regulation Ready?
Infrastructure, market structure, and utility performance: three challenges for regulators, each one a multidisciplinary puzzle. What role can law play in finding solutions? This speech addresses three main questions: (1) Infrastructure Investment: How Do We Ensure Sufficiency and Prudence? (2) Market Structure: How Do We Produce the "Best Possible Mix of Inevitably Imperfect Regulation and Inevitably Imperfect Competition"? and (3) Utility Performance: How Do We Define It? How Do We Induce It?
Paper published by the National Regulatory Research Institute.