Can consolidation create sustainable long-term value, or will it prove seductive but, ultimately, disappointing to shareholders, employees, customers, and management alike?
What we can learn from retail-rate increases in restructured and non-restructured states.
due to a significant increase in nuclear output in restructured states, but also due to increasing reliance on natural gas in non-restructured states.
4. Some of these recent studies are listed and summarized in Appendix C of the Electric Energy Market Competition Task Force’s Report to Congress on Competition in Wholesale and Retail Markets for Electric Energy, April 6, 2007 (posted at http://www.usdoj.gov/atr/public/taskforces/eemtaskforce.htm).
5. Standard & Poor’s “The Credit Implications of U.S. Electric Utility Re-Regulation,” April 12, 2007 and “Re-Regulation of U.S. Electric Utilities: The Toothpaste Challenge,” April 3, 2007.
6. See also Graves, Hanser, and Basheda, Rate Shock Mitigation, prepared on behalf of the Edison Electric Institute (forthcoming).