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Incentive Regulation in Network Industries: Experience and Prospects in the U.S. Telecommunications, Electricity, and Natural Gas Industries

Author

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  • Hemphill Ross C.

    (Christensen Associates)

  • Meitzen Mark E.

    (Christensen Associates)

  • Schoech Philip E.

    (Christensen Associates)

Abstract

We trace the development of incentive regulation in the U.S. telecommunications, electricity, and natural gas industries. Telecom has moved much more in the direction of pure price cap regulation. Incentive regulation in electricity and gas has generally not strayed far from rate-ofreturn regulation. Reasons for these differences include differences in regulatory commitment, industry concentration, technological change and productivity growth, service quality concerns, and externalities. We conclude that electricity and gas can evolve to purer forms of price caps as they gain more experience with incentive regulation, and if the unique features of these industries are considered in plan design.

Suggested Citation

  • Hemphill Ross C. & Meitzen Mark E. & Schoech Philip E., 2003. "Incentive Regulation in Network Industries: Experience and Prospects in the U.S. Telecommunications, Electricity, and Natural Gas Industries," Review of Network Economics, De Gruyter, vol. 2(4), pages 1-22, December.
    • Handle: RePEc:bpj:rneart:v:2:y:2003:i:4:n:3
    DOI: 10.2202/1446-9022.1032
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    Citations

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    Cited by:

    1. Fuliang Chen, 2011. "The Industrial Regulation of China: Basic Experiences and Lessons," Chapters, in: Michael Faure & Xinzhu Zhang (ed.), Competition Policy and Regulation, chapter 8, Edward Elgar Publishing.
    2. David E. M. Sappington & Dennis L. Weisman, 2016. "The disparate adoption of price cap regulation in the U.S. telecommunications and electricity sectors," Journal of Regulatory Economics, Springer, vol. 49(2), pages 250-264, April.
    3. Tsutsui, Miki & Goto, Mika, 2009. "A multi-division efficiency evaluation of U.S. electric power companies using a weighted slacks-based measure," Socio-Economic Planning Sciences, Elsevier, vol. 43(3), pages 201-208, September.
    4. Pavala Malar Kannan & Govindan Marthandan & Rathimala Kannan, 2021. "Modelling Efficiency of Electric Utilities Using Three Stage Virtual Frontier Data Envelopment Analysis with Variable Selection by Loads Method," Energies, MDPI, vol. 14(12), pages 1-21, June.
    5. Anna Ter-Martirosyan & John Kwoka, 2010. "Incentive regulation, service quality, and standards in U.S. electricity distribution," Journal of Regulatory Economics, Springer, vol. 38(3), pages 258-273, December.
    6. David Sappington & Dennis Weisman, 2010. "Price cap regulation: what have we learned from 25 years of experience in the telecommunications industry?," Journal of Regulatory Economics, Springer, vol. 38(3), pages 227-257, December.
    7. Supawat Rungsuriyawiboon & Tim Coelli, 2004. "Regulatory Reform and Economic Performance in US Electricity Generation," CEPA Working Papers Series WP062004, School of Economics, University of Queensland, Australia.

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