Back in 1978, Congress passed an energy bill, the National Energy Act, including an obscure provision that seemed like an incremental tweak to U.S. energy policy. But eventually, that incremental...
Avoiding a Train Wreck
Fundamental issues set companies and regulators on a collision course.
work it out. All it will take is a few industry leaders to step up and find a rational equilibrium between economic realities and policy signals. Customers will react negatively to rising prices, and utility shareholders and bond investors might punish utilities for increasing risks and costs. But the birds can keep singing, and the kids can keep on playing, because the industry’s leaders will find compromise solutions that allow us to build needed assets and continue serving customers.