Regulated Industries in a Nutshell
This authoritative guide presents the reasons behind industry regulation and the legal basis for it. Text discusses calculating rate base and rate of return, cost allocation, and rate design. Added attention is given to many of the new market-oriented forms of regulation, such as service unbundling, equal access to bottleneck facilities, competitive contracting, managed competition in health care, and incentive regulation.
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B Goals and Tools of Regulation
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accelerated depreciation airlines allocation allowed revenue requirements antitrust laws application average cost based on marginal benefits capital assets classes of customers Commission competitive market Congress consumers create decision depreciation deregulation destructive competition determine disallowance doctrine earn economic regulation economies of scale effect efficiency elasticity of demand entry environmental excess capacity expenses federal FERC firm's rate base fixed costs grid healthcare incentive increase investment jurisdiction L.Ed LECs marginal cost maximum ment method minimum rate regulation natural gas natural monopoly operating output permit pipeline pipeline transportation plant potential predatory pricing price controls problem profits prohibition provide service Public Utilities purchase quantity railroads rate differentials rate of return ratemaking reduce regu regulated firms regulatory agency restrictions result reviewing courts risks rules S.Ct Sherman Act sion statute stranded costs substantive due process sumers Supreme Court tion tive transmission transportation tricity unbundling unit unregulated