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REASONS FOR IMPOSING REGULATIONS IN CALIFORNIA POWER INDUSTRY
Regulation of an industry entails putting restrictions from entrants gaining operational license to operate in such industry. There is a form of monopolized operative license granted to single government public enterprise or few privileged organizations to carry out service provision as concerning the industry where they are established. Furthermore, regulation of industry by government can be in the form of setting a price regime that operators are expected to follow and abide with. For instance, many states in US have power industry with uniform price, set as price control, despite the fact that majority of electric utilities are privately owned. This is done “subject to price controls based upon ‘fair’ rate of return regulation” (Smith, 1996).
Number of Pages: 7
Numbers of References: 6
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