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  5. Restructuring, Competition and Regulatory Reform in the U.S. Electricity Sector

Journal of Economic Perspectives

ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)

Restructuring, Competition and Regulatory Reform in the U.S. Electricity Sector

  • Paul L. Joskow
Journal of Economic Perspectives
vol. 11, no. 3, Summer 1997
(pp. 119–138)
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Abstract

The U.S. electricity sector is going through dramatic changes. The changes are expanding competition in the generating segment of the industry, making it possible for consumers to choose among competing generation service suppliers, and reforming the regulation of remaining monopoly segments. The paper discusses current industry structure and regulation, its historical performance, and the sources of political pressures for change. It examines important industry restructuring and regulatory reform issues, including the organization of competitive generation markets, transmission access and pricing, generation market power, and the application of incentive regulation mechanisms to the transmission and distribution segments.

Citation

Joskow, Paul L. 1997. "Restructuring, Competition and Regulatory Reform in the U.S. Electricity Sector." Journal of Economic Perspectives, 11 (3): 119–138. DOI: 10.1257/jep.11.3.119

JEL Classification

  • L94 Electric Utilities
  • L98 Industry Studies: Utilities and Transportation: Government Policy
  • L51 Economics of Regulation
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