Currents of Competition in Electricity Markets

The 1980s saw an impressive decline in the scope of economic regulation in many major industries, with the electric power industry being a major exception. However, market-like institutions within the industry emerged that were competitive and efficient, despite the government\u27s regulations over the electric power industry. Smith examines the potential for building upon these institutions to substitute competition for regulation in the electric power industry and discusses the long-term question of how the market for power might be organized among deregulated firms