Date: July 16, 1998
Creator: Parker, Larry
Description: Once considered the nation's most regulated industry, the electric utility industry is evolving into a more competitive environment. At the current time, the focus of this development is the generating sector, where the advent of new generating technologies, such as gas-fired combined cycle, has lowered both entry barriers to competitors of traditional utilities and lowered the marginal costs of those competitors below those of some traditional utilities. This technological advance has been combined with legislative initiatives, such as the Energy Policy Act of 1992 (EPACT), to encourage the introduction of competitive forces into the electric generating sector. The questions now are whether further legislative action is desirable to encourage competition in the electric utility sector and how the transition between a comprehensive regulatory regime to a more competitive electric utility sector can be made with the least amount of economic and service disruption.
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