A regulator’s “goodness” is defined by four fundamental traits: Omniscience; Solomonic Wisdom; Clairvoyance; and Righteousness.
2010 Law & Lawyers Report
seems unlikely to abate without strategic policy leadership at the highest levels of government.
“Of course we hope legislators don’t impose a crushing cost burden for customers,” Greene says. “But with what’s happening now—in terms of how FERC is treating transmission costs and bilateral sales, and how we deal with environmental costs that add no new revenues but only costs—the uncertainty is worse than the solution. We need to deal with these questions as a society, and do it quickly.”