Abstract
It is evident that the US electric utility business is in a period of regulatory change—with newsworthy “Utility of the Future” initiatives coming out of the best scholarly energy research institutes (at the Massachusetts Institute of Technology and the University of Cambridge in the United Kingdom). There has also been great interest—both nationally and internationally—in the Reforming the Energy Vision (REV) initiative in New York. Driven in part by such activity, and in part by the stagnant load growth for electric utilities after the 2007–09 Great Recession, there is a new and evident resurgence of interest in incentive regulation.
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