ORIGINAL REPORTING: Writing The Book On Utility Regulation
Inside the new guidebook for electric utility regulation; A new regulatory primer from RAP outlines the strengths and pitfalls of utility regulation, as well as some novel fixes
Herman K. Trabish, September 22, 2016 (Utility Dive)
Editor’s note: The book reviewed here is not a James Patterson page-turner but it’s a lot more important.
Not since Billy the Kid’s gang was named “The Regulators” has regulation of any sort seemed exciting, but a new book about the governance of the electric power industry gets surprisingly close. More than a typical textbook, the second edition of “Electricity Regulation In the US: A Guide” from the Regulatory Assistance Project (RAP) matches Utility Dive’s daily effort to make the complicated subject of electricity as interesting and straightforward as other important daily news stories. That's why the book is required reading for Pace Energy and Climate Center interns and energy law students at the Elisabeth Haub School of Law. Lead author Jim Lazar and the staff of the Regulatory Assistance Project have made an extremely complex topic clear.
Energy law requires an understanding of law, policy, and economics. The RAP book is a tool that introduces students to basic economic and regulatory concepts and how they are applied in administrative law. With climate and energy growing in importance, the book is also timely. For anyone — industry veterans and curious consumers alike — seeking to understand the intricacies of electricity regulation and how it affects society, the book delivers authoritative answers to why regulation is important in clear, digestible language. Regulation, the book explains, “is the explicit public or governmental intervention into a market that is necessary to achieve public benefits that the market fails to achieve on its own.” It also calls on regulators to educate themselves on technical issues and policy… click here for more