Edited by Joanne Evans and Lester C. Hunt
Chapter 28: Electricity Retail Competition and Pricing: An International Review
Historically there has been a strong link between the electricity industry performance and the actions taken by its regulators. Until modern restructuring began in the 1990s in the UK, the US, and elsewhere in the world, most consumers of electric power had never experienced anything other than either their local or regional regulated and vertically integrated or publicly owned national utility company. During the regulated era, prices faced by consumers were set at a level which would allow the utility to recover its capital, operating, and maintenance costs, plus an acceptable level of profit. In the US, rates were generally set through a series of hearings before state regulatory bodies known as public utility commissions....
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