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## Avoiding the Mistakes of FERC's and California's Full Stranded-Cost Recovery In the first two major electricity restructurings, state and federal regulators have exaggerated the supposed regulatory bargain. As with natural gas, shared responsibility for stranded power supply costs is more appropriate. Defining the degree of sharing requires a more carefully developed regulatory record than has been seen in any deregulation to date. John B. McArthur ## I. The Problem of Full Recovery The biggest problem in electricity deregulation to date is deciding the right treatment of current assets that are not needed in the new, competitive generating market. "At least in the short run," such stranded costs present the "most critical regulatory issue" facing the industry. 1 Unfortunately, the first two serious forays into deregulation have brought rules that were intended to pay utilities for their stranded investment mistakes, 2 even though these mistakes are what produced the need for deregulation in the first place. n Order No. 888, the Federal Energy Regulatory Commission (FERC) abandoned the "equitable sharing" it had devised for stranded natural gas costs. Equitable sharing made inte

Who reads Avoiding the Mistakes of FERC’s and California’s Full Stranded-Cost Recovery?

Author

John B McArthur

Publisher

Elsevier Science; Elsevier ; Elsevier BV (ISSN 1040-6190)

Published

1998

Language

EN

Field

Engineering (Physical Sciences)