β Scribed by Schlesinger, Benjamin
No coin nor oath required. For personal study only.
lectricity as a commodity has a relatively E recent history in the United States.l Until the 1980s, integrated power generation and transmission companies produced, transported, and delivered electricity to retail consumers in the household, commercial, and industrial sectors. The industry was dominated by investor-owned utilities (IOUs), whose franchised retail service regions formed autonomous control areas, with trading of electricity across borders generally limited to emergency power supply arrangements between neighboring utilities.
Close regulatory oversight prevailed over the electric power industry at the federal and state levels.
Close regulatory oversight prevailed over the electric power industry at the federal and state levels. Wholesale transmission of electricity was regulated by the Federal Power Commission (FPC) under the Federal Power Act of 1937 (FPA), and then by the Federal Energy Regulatory Commission (FERC). Moreover, the Public Utility Holding Company Act of 1935 (PUHCA) limited the ability of the IOUs to diversify into nonregulated energy businesses. State public utility commissions
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