Staff report on the restructuring of the electric industry

Journal Article · Tue Dec 31 04:00:00 EST 1996 · NRRI Quarterly Bulletin

OSTI ID:476833

The current debate over restructuring of the electric utility industry in the United States may have broad implications for Virginia consumers, both large and small. Proponents of change maintain that benefits will accrue to customers by subjecting the generation of electricity to market forces instead of regulation, while others argue that the utilities will likely retain their monopoly power and that the enormous complexities and complications intrinsic to the industry will require continued regulation to protect the public interest. In this Staff Report, the authors attempt to address whether rapid restructuring could provide significant opportunities for Virginia or whether guarded modification to the present industry structure and regulatory framework would be a preferable course. Furthermore, they have attempted to evaluate issues in the context of the current momentum for change prevalent at the federal level and in a number of other states, in order to be in a better position to respond to change should it be compelled by industry developments or government fiat. The purposes of this Report are to define the issues, identify and to analyze their potential effects upon the Commonwealth and its citizens, and to provide the Commission and the General Assembly with a foundation for addressing these important topics in the months and years to come. The authors recognize that reliable and economic electric service is critical to the well-being of all of Virginia`s citizens and businesses and that fundamental change, if warranted, must be undertaken in a measured and responsible manner. They stress that this Report is only a beginning and that further evaluation and study of a myriad of issues will be necessary for the development of effective policy as the debate goes forward.

• OSTI ID: 476833
• Journal Information: NRRI Quarterly Bulletin, Journal Name: NRRI Quarterly Bulletin Journal Issue: 4 Vol. 17; ISSN NQBUEK; ISSN 8756-632X
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
COMPETITION
DEREGULATION
ELECTRIC POWER INDUSTRY
VIRGINIA