Public Utilities, Second Edition

Public Utilities, Second Edition

Old Problems, New Challenges

David E. McNabb

A thoroughly updated introduction to the current issues and challenges facing managers and administrators in the investor and publicly owned utility industry, this engaging volume addresses management concerns in five sectors of the utility industry: electric power, natural gas, water, wastewater systems and public transit.

Chapter 3: Public utility regulatory environment

David E. McNabb

Subjects: economics and finance, public sector economics, politics and public policy, public policy

Abstract

Chapter 3 focuses on the public utility regulatory environment. Public utilities are subject to a wide variety of local, state, and federal government regulations. These regulations have evolved from a body of laws passed over the last eighty-plus years that deal with such business functions as ownership and governance, raising capital, transactions between company units, environment, and the methods of producing utility products. Additional regulations deal with health and safety issues, environmental concerns, and many other aspects of utility operations. As “natural monopolies,” utilities are considered to be holders of a special public trust and therefore legitimately subject to government oversight. This chapter discusses some of the more important of the regulations under which utilities operate.

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