Download e-book for iPad: A consumer's guide to the economics of electric utility by James I. ; United States. ; Mid-America Economics Institute.

By James I. ; United States. ; Mid-America Economics Institute. Illinois Office of Consumer Services. Sturgeon

This consultant offers essentially with the economics of electrical utilities, even if yes felony and organizational points of utilities are mentioned. all of the seven chapters addresses a specific aspect of public-utility ratemaking. bankruptcy One encompasses a dialogue of the evolution of the public-utility proposal, in addition to the criminal and monetary justification for public utilities. the second one bankruptcy units forth an Read more...

summary: This advisor offers essentially with the economics of electrical utilities, even if convinced criminal and organizational features of utilities are mentioned. all the seven chapters addresses a specific side of public-utility ratemaking. bankruptcy One features a dialogue of the evolution of the public-utility idea, in addition to the criminal and fiscal justification for public utilities. the second one bankruptcy units forth an analytical fiscal version which gives the foundation for the following 4 chapters. those chapters comprise a close exam of overall working expenditures, the speed base, the speed of go back, and the speed constitution. the ultimate bankruptcy discusses a couple of present concerns concerning electrical utilities, customarily elements concerning fuel-adjustment expenditures, ads, taxes, development paintings in development, and lifeline premiums. a few of the examples utilized in the advisor are from specific states, resembling Illinois and California. those examples are used to demonstrate particular issues. shoppers in different states can generalize them to their states and never swap the which means or importance of the issues

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Additional resources for A consumer's guide to the economics of electric utility ratemaking

Sample text

As Professor Kahn, a noted utility economist, eloquently and apt ly states: Governmenta1 Governmenta 1 pri ce-fi xing is an act of pol it i ca1 ca 1 economy, and, it bears repeating, this means that it necessarily and quite properly involves the striking of a balance between conflicting economic interest, influenced by political considerations in both the crassest and the broadest possible senses, and informed by community standards of fairness. 2 It cannot be stated too often that public utility regulation is a political process.

The transmission of electricity involves moving electricity from the generating plant to sub-stations near markets. The lines which bulk located transmit the electricity are supported by steel, concrete, or wood towers. Transmission appears to have very significant economies of scale. The Federal Power Commission has estimated that the *This is a complicated argument and there is no general agreement as to whether it is an increasing or decreasing cost industry. Some wou1 d say the average cost curve has shifted upward due to increased absolute cost while others would say that market demand 1arge that the economi es of scale have been exhausted and is so 1arge the industry is operating in the increasing portion of the long run average cost curve.

Once the furnace;~as -28- \,-", or fireplaces for cooking. ~ Indeed the public would be greatly harmed if it were forced to use antiquated techniques simply I because they could not afford electricity. Thus on the score of substitutes we find that electricity has no close substitutes: this tends to make its demand inelastic. If expenditures on a product represent a small percentage of income demand tends to be more inelastic. income elasticity of demand. Economists call this This means that as the price of the product rises or falls changes in the quantity demanded are insignificant because the total amount spent on the product has but a slight effect on the consumer's total expenditures.

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A consumer's guide to the economics of electric utility ratemaking by James I. ; United States. ; Mid-America Economics Institute. Illinois Office of Consumer Services. Sturgeon


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