Deregulation/Restructuring Part I: Reregulation Will Not Fix the Problems

Electricity market restructuring is widely seen as having failed. Many of the same groups that pressed for deregulation now find themselves seeking reregulation. But reregulation will reintroduce the flaws and problems that led people to seek deregulation. Further, reregulation will introduce the additional problem of how to value competitive market assets for inclusion in the regulated rate base.