The utilities price regulation in the United States has historically been made by a state commission. Nevertheless, this regulatory system does not incentive cost controls within the utilities. In order to rectify this situation the regulatory commissions have changed their view to one of...

Markets for Power provides an unusually complete analysis of the economic, technical, and institutional aspects of the electric utility industry. The authors evaluate four currently popular options for deregulating this unique segment of the economy, and in a balanced program for reform, they...

This paper summarizes recent empirical research on compliance costs and strategies and on permit market performance under the U.S. acid rain program, the first large-scale, long-term program to use tradeable emissions permits to control pollution. An efficient market for emissions permits...