Full Title: Wholesale Electricity Markets in the Technological Age
Author(s): Devin Hartman
Publisher(s): R Street Institute
Publication Date: August 1, 2016
Full Text: Download Resource
Description (excerpt):
The U.S. power industry, a major underpinning of the national economy, has experienced significant regulatory and market transitions over its long history. The unique nature of electricity provision is one susceptible to various forms of market failure, giving rise to a complex regulatory structure. Some failures are sufficiently pervasive as to support the widespread view that the industry is a “natural monopoly.” Thus, the industry’s early development included utilities being granted exclusive franchises in exchange for tight state regulation.