Effective Regulation of Public Utilities

Effective Regulation of Public Utilities

Effective Regulation of Public Utilities

Effective Regulation of Public Utilities

Excerpt

This book has been written from the "firing line" of regulation. It is largely the result of an intimate contact with the efforts at regulation during the past fifteen years. It attempts to present not only the principles and usual methods of regulation, but also the difficulties that have greatly impeded the work, as well as a plan which would render rate making a definite and practically an automatic process.

The task of regulation has been delegated mostly to commissions. While they have been concerned with the entire field of regulation, their efforts have centered on rate making. They have had little time for much else because of the constant struggle with vague principles, indeterminate facts, undefined methods, and cumbersome rate procedure. They have been practically overwhelmed with the repetitious routine, with out ever finally settling either principles, policies or facts with which they have had to deal. In every rate case they have been confronted with a new battle over the same grounds that had been fought over time and again. Consequently they have largely left untouched what should be the chief constructive purpose of regulation: to promote service and economy of operation.

That the first need is to cut through the tangle of present rate procedure, can hardly be disputed. Everyone who has actively taken part in rate cases has been irritated by the large waste of effort and the high degree of futility in the result. Both sides have felt the need of definiteness as to principle and . . .

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