Compared to other industries, the electric utility industry doesn t make much economic sense. Most industries are kept by law in a state of fair competition, but since the capital necessary to start an electric company generators, transmission and distribution systems, other electrical equipment, land, and buildings is so excessive, few companies can really enter the market and compete. So since its inception the natural state of an electricity utility has been considered to be a monopoly, and because of this the ...
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Compared to other industries, the electric utility industry doesn t make much economic sense. Most industries are kept by law in a state of fair competition, but since the capital necessary to start an electric company generators, transmission and distribution systems, other electrical equipment, land, and buildings is so excessive, few companies can really enter the market and compete. So since its inception the natural state of an electricity utility has been considered to be a monopoly, and because of this the electricity industry has been overwhelmingly regulated by the government. John Neufeld offers a look back at how the U.S. electric utility industry got its start, and at the economics and institutions that shaped its distinctive profile. Outlining the peculiar economics that have since provided the basis for all the industry s historical developments especially those relating to policy "Selling Power" will be the first book to bring economic insight to shed light on the industry that has had the tightest and most contentious relationship between its technology, its economics, and the government. The lessons from this massive market s beginnings and early development are invaluable for the effective evolution, survival, and regulation of today s new large-scale markets."
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