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E-M:/ Krugman on Energy Deregulation
- Subject: E-M:/ Krugman on Energy Deregulation
- From: David Holtz <firstname.lastname@example.org>
- Date: Tue, 02 Sep 2003 08:28:14 -0400
- Delivered-To: email@example.com
- Delivered-To: firstname.lastname@example.org
- List-Name: Enviro-Mich
- Organization: Michigan Environmental Council
- Reply-To: David Holtz <email@example.com>
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From Paul Krugman in Today's NYT:
There is a theoretical case for a deregulated electricity market. But making
such a market work, it's now clear, requires at least three preconditions.
First, it requires a robust transmission system, yet the recent blackout
made it clear that we have now created a system in which nobody has clear
responsibility for the transmission network. Second, it needs a watchdog
agency with adequate powers to prevent and punish price manipulation; FERC
doesn't have those powers. Third, that watchdog must not be an agent of the
very companies it's supposed to be policing. Enough said.
I admire the virtues of free markets as much as anyone. But given what we've
seen so far, any state government that lets the federal government prod it
into deregulation is just plain crazy.
Communications & Development Director
Michigan Environmental Council
119 Pere Marquette Drive, Suite 2A
Lansing, MI 48912
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