OCR Text |
Show . u WHERE INTERESTS ARE MUTUAL The purpose of all utility regulation is to protect the public interest. A good many of us seem to lose sight of the fact that protecting the public interest means, as well, protection of the utility interest. In many instances the power buying public is also the security-buying public. Even eliminating this phase, however, the public's utility need is this: A utility which can provide, under all conditions, efficient and dependable service at a fair rate comparable to that of other utilities operating under similar conditions, con-ditions, and which can expand to meet the needs of its area. The way not to have such a utility is to adopt regulatory practices that tie management hand and foot. An over-regulated industry without initiative and without ambition. Reasonable regulation ha.s helped give America the best and cheapest utility sen-ice in the world. Regulation in the future should not forget the example of the past. |