Chapter 3: Public utility regulatory environment
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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