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How politics, economics, and institutions shaped electric utility regulation in the United States: 1879--2009

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  • William J. Hausman
  • John L. Neufeld

Abstract

The history of electric utility regulation at both the state and national level from the beginning of the industry through the aftermath of the California energy crisis of 2000--01 is presented. That history was partly determined by the economics of the industry -- on the supply side by its cost structure, network characteristics, and lack of storability -- on the demand side by its price inelasticity for all but the largest consumers, and partly by politics. These factors influenced the institutions that were created to regulate the industry, a process also complicated greatly by US federalism. The intensity of regulation waxed and waned in response to real or perceived problems in the industry.

Suggested Citation

  • William J. Hausman & John L. Neufeld, 2011. "How politics, economics, and institutions shaped electric utility regulation in the United States: 1879--2009," Business History, Taylor & Francis Journals, vol. 53(5), pages 723-746, August.
    • Handle: RePEc:taf:bushst:v:53:y:2011:i:5:p:723-746
    DOI: 10.1080/00076791.2011.599589
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    References listed on IDEAS

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    1. Gilbert,Richard J. & Kahn,Edward P. (ed.), 1996. "International Comparisons of Electricity Regulation," Cambridge Books, Cambridge University Press, number 9780521495905, January.
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    3. Melville J. Ulmer, 1960. "Capital in Transportation, Communications, and Public Utilities: Its Formation and Financing," NBER Books, National Bureau of Economic Research, Inc, number ulme60-1, February.
    4. Melville J. Ulmer, 1960. "Preface and Table of contents to "Capital in Transportation, Communications, and Public Utilities: Its Formation and Financing"," NBER Chapters, in: Capital in Transportation, Communications, and Public Utilities: Its Formation and Financing, pages -23, National Bureau of Economic Research, Inc.
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    Cited by:

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    2. Ajayi, V. & Dolphin, G. & Anaya, K. & Pollitt, M., 2020. "The Productivity Puzzle in Network Industries: Evidence from the Energy Sector," Cambridge Working Papers in Economics 2073, Faculty of Economics, University of Cambridge.
    3. George C Homsy, 2016. "Powering sustainability: Municipal utilities and local government policymaking," Environment and Planning C, , vol. 34(6), pages 1076-1094, September.
    4. Eric L. Prentis, 2015. "Evidence on U.S. Electricity Prices: Regulated Utility vs. Restructured States," International Journal of Energy Economics and Policy, Econjournals, vol. 5(1), pages 253-262.
    5. Carl Danner & Paul Schulman, 2019. "Rethinking Risk Assessment for Public Utility Safety Regulation," Risk Analysis, John Wiley & Sons, vol. 39(5), pages 1044-1059, May.
    6. Valadkhani, Abbas, 2014. "Dynamic effects of rising oil prices on consumer energy prices in Canada and the United States: Evidence from the last half a century," Energy Economics, Elsevier, vol. 45(C), pages 33-44.
    7. Pasrun Adam & Usman Rianse & Edi Cahyono & Manat Rahim, 2015. "Modeling of the Dynamics Relationship between World Crude Oil Prices and the Stock Market in Indonesia," International Journal of Energy Economics and Policy, Econjournals, vol. 5(2), pages 550-557.
    8. Gazmend Amaxhekaj & Driton Qehaja & Atdhetar Gara, 2024. "The Role of Institutions in Energy Transition and Economic Growth in West Balkan Countries," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 18-45.

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