Restructing the electric power industry: An issue for the 105th Congress

Today's utility industry is huge, representing 2.3% of the GDP. For decades it has been comprised of regulated monopoly companies that control generation, distribution and retail services. Congress, by creating Independent Power Producers and passing the Energy Policy Act of 1992, pushed restru...

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Bibliographic Details
Published in:Vital speeches of the day 1996-12, Vol.63 (5), p.151
Main Author: Abdoo, Richard A
Format: Magazinearticle
Language:English
Subjects:
Competition
Consumers
Costs
Customer services
Deregulation
Electric power
Electric rates
Electric utilities
Electricity
Electricity distribution
Energy
GDP
Gross Domestic Product
Industrywide conditions
Predictions
Prices
Retail wheeling
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Summary:Today's utility industry is huge, representing 2.3% of the GDP. For decades it has been comprised of regulated monopoly companies that control generation, distribution and retail services. Congress, by creating Independent Power Producers and passing the Energy Policy Act of 1992, pushed restructuring to the point of no return. Wisconsin Energy Corp. envisions an industry with the consumer at the head of the table. It wants to see wide markets, low prices and maximum competition. All that should be complemented by optimal reliability in every step of the delivery system. Three basic steps will accomplish those goals: 1. We must deregulate the generation of electricity. 2. We must continue regulating the transmission and distribution of electric power to assure reliable electricity. 3. We must deregulate the retail services sector, allowing consumers full marketplace freedom to choose from a variety of suppliers who compete based on price, service and convenience.
ISSN:0042-742X