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A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and regulation ranging from local community-based groups to statewide government monopolies .
In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
Utilities became protected as regulated monopolies because it was thought that a company could produce power more efficiently and economically as one company than as several. PURPA started the industry on the road to restructuring and is one of the first laws that began the deregulation of energy companies. The provision which enabled non ...
In Canada, a public utilities commission (PUC) is a public utility regulator, typically a semi-independent quasi-judicial tribunal, owned and operated within a municipal or local government system under the oversight of one or more elected commissioners. [1] Its role is analogous to a municipal utility district or public utility district in the US.
The government may also reserve the venture for itself, thus forming a government monopoly, for example with a state-owned company. [ citation needed ] Monopolies may be naturally occurring due to limited competition because the industry is resource intensive and requires substantial costs to operate (e.g., certain railroad systems).
United Steelworkers International President David McCall praised Biden's decision to block Nippon's purchase of U.S. Steel, and the union's bosses have been trying to silence rank-and-file members ...
Rate-of-return regulation (also cost-based regulation) is a system for setting the prices charged by government-regulated monopolies, such as public utilities.It attempts to set prices at efficient (non-monopolistic, competitive) levels [1] equal to the efficient costs of production, plus a government-permitted rate of return on capital.
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