Deregulation of the Electrical Industry
The roots of modern day regulation can be traced all the way back to the
late 1800's and found in the form of antitrust. By the beginning of the 20th
century, the U.S. government had formed the interstate Commerce
Commission to regulate the railroad industry, and shortly thereafter, many
other regulatory commissions were founded in the transportation,
communication, and securities fields. The main goal of these regulatory
commissions was to create a reasonable rate structure that would be
appealing to both producers and consumers.
While this system has worked for many years, it has recently come under
heavy criticism, with many people pushing for open competition among
electric power producers. Although once believed to be an impossible
proposal, competition among electric power producers is finally a reality in
a few areas. Massachusetts is just one state where legislation implemented
to create competition among electric power producers is not only favored
by the people of the state, but has also provided significant rate reductions
as well.
The attempt at regulating price in the electric industry is a troublesome
one. The objective is not only to minimize the cost to consumers, but also
to create a rate structure that will entice the electric company to remain in
the industry. The regulatory commission wants the electric company to
have a reason to innovate so that they will be able to provide cheaper
power in the future. However, if the commission captures all gains from
innovation in the form of lower prices, then the electric company has no
incentive to undertake any type of innovation. Therefore, a compromise
must be reached which would provide adequate incentives for firms to
undertake cost-reducing actions while at the same time ensuring that the
price for consumers is not exorbitant.
The term regulation refers to government controlled restrictions on firm
decisions over price, quantity, and entry and exit. Each factor of an
industry must be regulated for producers and consumers to truly benefit.
The control of price does not mean setting one fixed price, but rather
entails the creation of a price structure for purchasing electricity during
peak and non-peak times. The control of quantity refers to the
government's attempt to control the amount produced or in this case the
amount of electricity produced. For example, in the electric industry, it
Writers commonly follow the same styles and organizational platforms. The Great Electrical Revolution is a short story that demonstrates the effects of moving to a new country, as well as the different struggles that people are guaranteed face when doing so. In the story the main character moves to Saskatchewan for the opportunity to farm but discovers that he has agoraphobia, the fear of wide open spaces. He is forced to live in the city because of his condition, and as a result of this he picks up the hobby of stealing the city’s electricity. Whale Rider is a film that demonstrates the difficulty of being a woman and constantly failing to measure up to her elders. This film is centered around the idea of tradition: finding the next leader
retrospect at the history of this grand nation. Every rule, every law, and the very
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After reading two different views on what influences political power in the United States, I have set out to answer 4 questions assigned to me to help define how laws and regulations are laid out, and in most cases, gone around all together. In the text "American Government", the reading was a very fundamental basis of how the federal government was ran according to the constitution and the various philosophies that members of political leadership employ to wield power to influence voters and fellow congressional leaders. On the other hand, "Voices of Dissent" gives a different point of view on how business and the capitalists in fact run this country through campaign contributions and legal loopholes.
Phillips, Charles. "December 29, 1890." American History 40.5 (2005): 16. MAS Ultra - School Edition. EBSCO. Web. 6 Apr. 2015.
2. Federal Regulation – the expansion of the federal government into almost all aspects of people’s lives
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Law, Marc. The determinants of progressive era reform: the pure food and drugs act of 1906. Cambridge, MA: National Bureau of Economic Research, 2004. Print.
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until the 1800's. Its fame all started with an essay written by a man by the name of Walter Pater in 1867
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