Download or read book An Analysis of Some Aspects of Regulatory Risk and the Required Rate of Return for Public Utilities written by Chang Mo Ahn and published by . This book was released on 1986 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulatory Finance written by Howard E. Thompson and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is concerned with the determination of the allowed rate ofreturn in rate cases which, in part, determines the rates ofcharge to customers of public utilities. Rate of return determination has been a central topic in utility regulation for a century. Recent changes in the traditionally regulated markets - electricity, gas, and telephone - have shoved discussion of rate of return determination into the background, replacing it by technology changes, competition, downsizing, deregulation, and reg'ulatory incentive systems. These new issues have made the regula tory sector, which had the reputation of being stodgy and uninteresting, an exciting field ofstudy. But rate ofreturn is not dead. It will playa key role in whatever the new structure ofthe regulated sector. Separating generation from transmis sion and distribution will not eliminate the need for rate of return analysis in the electric utility industry. Rather, it may well increase the number of companies for which the rate of return needs to be determined. It will playa fundamental role in the new regulatory environment. Incentive systems in the regulated sector may be the wave of the future but they will use the required rate ofreturn as a benchmark. Rate case will persist. Most rate cases include opposing testimony as to the "fair" rate of return or even the cost ofcapital for a public utility whose rates are at issue.
Download or read book Risk Principles for Public Utility Regulators written by Janice A. Beecher and published by MSU Press. This book was released on 2016-05-01 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risk and risk allocation have always been central issues in public utility regulation. Unfortunately, the term “risk” can easily be misrepresented and misinterpreted, especially when disconnected from long-standing principles of corporate finance. This book provides those in the regulatory policy community with a basic theoretical and practical grounding in risk as it relates specifically to economic regulation in order to focus and elevate discourse about risk in the utility sector in the contemporary context of economic, technological, and regulatory change. This is not a “how-to” book with regard to calculating risks and returns but rather a resource that aims to improve understanding of the nature of risk. It draws from the fields of corporate finance, behavioral finance, and decision theory as well as the broader legal and economic theories that undergird institutional economics and the economic regulatory paradigm. We exist in a world of scarce resources and abundant uncertainties, the combination of which can exacerbate and distort our sense of risk. Although there is understandable impulse to reduce risk, attempts to mitigate may be as likely to shift risk, and some measures might actually increase risk exposure. Many of the concepts explored here apply not just to financial decisions, such as those by utility investors, but also to regulatory and utility decision-making in general.
Download or read book Regulation and the Management of Public Utilities written by Charles Stillman Morgan and published by . This book was released on 1923 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Issues in Public Utility Regulation written by Michigan State University. Institute of Public Utilities and published by . This book was released on 1979 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Setting of Allowed Rates of Return for Public Utilities Classic Reprint written by Stavros B. Thomadakis and published by Forgotten Books. This book was released on 2018-02-02 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Setting of Allowed Rates of Return for Public Utilities Regulation of public utilities usually involves the setting of maximum overall rates of return which the firms are allowed to earn. These rates are normally applied on some measure of the firm's rate base which is also deter mined by the regulators. Normally the rate base is some variant of the firm's book value. Through court decisions general standards have devel oped as to the spirit of regulation. The return allowed must be sufficient to attract capital in the market. It must be commensurate to returns enjoyed by firms which face corres ponding risks. The meaning of these general notions to the economist is fairly clear. Returns allowed must somehow reflect the opportunity costs of capital. (2) About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
Download or read book Regulatory Reform written by and published by . This book was released on 1984 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Commission Regulation of Public Utilities written by National Civic Federation. Department on Regulation of Interstate and Municipal Utilities and published by . This book was released on 1913 with total page 1292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Required return on public utility equities written by John Gregory McDonald and published by . This book was released on 1971 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Price Level Regulation for Diversified Public Utilities written by Jordan J. Hillman and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Diversification Deregulation and Increased Uncertainty in the Public Utilities Industries written by Michigan State University. Institute of Public Utilities. Conference and published by . This book was released on 1983 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Regulation of Public Utilities written by Charles Franklin Phillips and published by . This book was released on 1988 with total page 938 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Towards a Reconciliation of the Comparable Earnings DCF and CAPM Approaches to Public Utility Rate Regulation written by Charles M. Linke and published by . This book was released on 1979 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book A Critique of Administrative Regulation of Public Utilities written by Warren J. Samuels and published by . This book was released on 1972 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regulatory Risk Economic Principles and Applications to Natural Gas Pipelines and Other Industries written by A. Lawrence Kolbe and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is common to assert that utility investors are compensated in the allowed rate of return for the risk of large disallowances, such as arise for investments found imprudent or not `used and useful'. However, this book develops a new theory of asymmetric regulatory risk that shows that infallible estimates of the cost of capital are sure to provide downward-biased estimates of the necessary allowed rates of return in the presence of such regulatory risks. The book uses the new theory of regulatory risk to understand recent developments in the risk of natural gas pipelines and other regulated industries.
Download or read book Regulatory Risk and the Cost of Capital written by Burkhard Pedell and published by Springer Science & Business Media. This book was released on 2006-04-20 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Austrian Controller Award 2005 This book develops a comprehensive concept of regulatory risk integrating existing theoretical and empirical research. The focus is on explaining how the design of the regulatory system influences the risk of a rate-regulated firm, as well as on elaborating appropriate methods for the determination of the regulatory rate base and the allowed rate of return. Regarding the regulatory rate base, the question of whether market value of capital or book value of assets should be employed and the choice of the depreciation scheme are at the center of the discussion. Specific methodical issues concerning cost of capital assessment for rate-regulated firms are analyzed, i.e. the circularity of rate regulation, the sharing of risks between capital owners and rate payers, the length of the regulatory review period, the regulation of the capital structure as well as the conversion of a post-tax to pre-tax weighted average cost of capital.
Download or read book The Economics of Public Utility Regulation written by Michael A. Crew and published by . This book was released on 1986 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
