tag:blogger.com,1999:blog-7169279.post109908573214524310..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Utah PowerDr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7169279.post-1102705186566424582004-12-10T11:59:00.000-07:002004-12-10T11:59:00.000-07:00Utility regulation is understood by economists to ...Utility regulation is understood by economists to be "captive". This means that the utilities can usually get what they want from the regulators. This leads to a phenomenon (in most books, but not this one) called lazy monopoly. Rather than make a profit, the regulated utility works at zero profits. But, since they have captured the regulatory process, any time they have cost increases, they passDr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1099165656200382622004-10-30T13:47:00.000-06:002004-10-30T13:47:00.000-06:00I understand that UP&L's expenses may be going up,...I understand that UP&L's expenses may be going up, but maybe it isn't fair to pass those expenses on to the consumer. I sorta believe that an outside audit may find that most monopolies don't operate in the most cost-efficient ways.Erniehttps://www.blogger.com/profile/01727480926569919212noreply@blogger.com