This Electric Regulation Online Course introduces the basic concepts of regulation as they apply to the electric industry. The course begins with an explanation of what regulation is, why it is necessary, and how it affects natural monopolies, essential facilities, and competitive market participants. Each of these market participants is discussed in detail. Then the course looks at who regulates what on both the state and federal levels as well as the regulatory compact which is the basic agreement between the regulated utility and the regulator. Also covered are the goals of regulation, the regulatory process and types of proceedings, as well as cost-of-service ratemaking. This module is also included in the Electric Industry Overview learning path. 

Note: Gas Regulation has the same content, but is focused only on gas. For a similar course that covers both gas and electricity, please consider Basic Concepts of Natural Gas and Electricity Regulation. 

What you will learn:

• Why regulation is necessary in the electric industry
• The types of companies that are subject to regulation
• Why these companies are regulated
• The concept of the regulatory compact
• Which entities regulate electricity on the state and federal level
• The types of regulatory proceedings used in the electric industry
• The steps involved in setting rates under the cost-of-service ratemaking process