caa a22 4500 469075872 CHVBK 20180323132935.0 cr unu---uuuuu 170328e19920901xx s 000 0 eng 10.1007/BF00133623 doi (NATIONALLICENCE)springer-10.1007/BF00133623 Regulatory regimes in the electric power industry: Implications for capacity [Elektronische Daten] [Esther Gal-Or, Michael H. Spiro] We construct a model of the electric power industry which consists of two utilities faced with uncertain demand and a variety of regulatory regimes. Two technologies are considered, base-load and peaking, and the transfer of bulk electricity among utilities is permitted. The purpose of the paper is not to determine optimal regulatory regimes but to provide a framework for analyzing existing and contemplated regulatory initiatives. The conclusions are that long run survival mandates an authorized rate of return above the cost of capital and that excess investment will result. Furthermore, it is highly unlikely that current regulatory instruments such as "Used and Useful,” distribution of profits from bulk sales, and pricing of wholesale electricity can lead to a socially optimal capital stock. Kluwer Academic Publishers, 1992 Gal-Or Esther University of Pittsburgh Katz Graduate School of Business, 15260, Pittsburgh, PA, USA aut Spiro Michael H. University of Pittsburgh Katz Graduate School of Business, 15260, Pittsburgh, PA, USA aut Journal of Regulatory Economics Kluwer Academic Publishers 4/3(1992-09-01), 263-278 0922-680X 4:3<263 1992 4 11149 https://doi.org/10.1007/BF00133623 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF00133623 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Gal-Or Esther University of Pittsburgh Katz Graduate School of Business, 15260, Pittsburgh, PA, USA aut NATIONALLICENCE 700 1- Spiro Michael H. University of Pittsburgh Katz Graduate School of Business, 15260, Pittsburgh, PA, USA aut NATIONALLICENCE 773 0- Journal of Regulatory Economics Kluwer Academic Publishers 4/3(1992-09-01), 263-278 0922-680X 4:3<263 1992 4 11149 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer