by: Clive Harris, Ian Alexander
Regulatory institutions and the regimes that they establish have a
significant impact on the environment for new investment in utility and
infrastructure industries. This is especially true when the investment
is provided by the private sector. Although some aspects of the
regulation of infrastructure utilities have been well covered
relatively little has been written on techniques developed by
regulators over the past decade to deal with how investment issues have
been factored into regulatory price controls.
The Regulation of Investment in Utilities examines the common
approaches that have been adopted by regulators over the last 10 to 15
years and finds that the different techniques that were developed have
had varying levels of success, and were often only developed to respond
to a particular situation?large investments with uncertain timing, an
uncertain volume of smaller investments, etc.
This paper provides assessments of the various approaches which are
complemented by a set of short case studies. It also provides some
guidance on when to use the different approaches that will be
beneficial for regulators in new agencies.
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