Price Level Regulation for Diversified Public Utilities

and Statement of Purpose.- 1 The Inefficacy of Profit Level Regulation for the Natural Monopoly Markets of Diversified Firms.- A. An Economic Overview.- B. A Legal Overview.- 2 The Welfare Ingredients of Price Level Regulation: Incentives and Decisional Options.- A. The Firm’s Incentives and their Welfare Implications.- B. Major Decisional Issues in a Price Level Regime.- 3 Assessing the Efficacy of Price Level Regulation for the Natural Monopoly Markets of Diversified Firms.- A. Potential Benefits of Price Level Regulation.- B. Potential Problems of Price Level Regulation.- 4 Implementing a Price Level Regime for Diversified Public Utilities.- A. As Applied to the Firm’s Natural Monopoly Markets.- B. As Applied to Relationships between the Diversified Firm’s Regulated and Unregulated Markets.- Conclusion.- Endnotes.- Afterword.