Energy Companies And Market Reform: How Deregulation Went Wrong Hardcover – 15 December 2006

Lambert (of Global Crossing Ltd.) reviews the recent history of energy market deregulation in the US, arguing that failure to understand the effect of the removal of price and entry constraints on network industries such as natural gas and electricity "is an invitation to manipulation, rent seeking, and, ultimately, unregulated monopoly." In addition to describing deregulation failures such as Enron's manipulation of the gas supply market and the implosion of the California electricity market, he also explores post-deregulation markets that he believes work, such as the Pennsylvania-New Jersey-Maryland Interconnection LLC, and makes the case for a mixed regulation-competition model. Annotation ©2006 Book News, Inc., Portland, OR (booknews.com)

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