The first step in restructuring the US electric industry (original) (raw)

Energy Economics, 2005

Abstract

The electric industry lobbied for its first step in restructuring, from local franchises to regulated state monopolies during the early 1900s. The present paper examines this restructuring with an empirical model that includes the introduction of natural gas and steam turbine generators. The restructuring resulted in fewer firms, higher costs, and higher prices, consistent with increased monopoly power and captured

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