Abstract
The history of the electric utility industry in the United States is in large part the story of how engineers and businessmen responded to the numerous organizational and technological problems associated with the generation and distribution of electricity.' A particularly complex problem faced by the industry was the seemingly prosaic commercial issue of how to price the product. Although physical measures of electrical energy were developed quite early, the technological and economic characteristics of electricity generation and distribution were such thatthe establishment of a single, uniform price charged all customers under all conditions would have been disastrous for the
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