Energy Law Academy Course 102: An Introduction to Electricity and Electric Rate Regulation

The goal of Course 102 is to provide an overview of electric regulation at the federal and state levels. The course begins with a brief overview of how electricity is generated, transmitted, and delivered to customers, and covers key legal milestones in electric regulation since commercial electric service began in the 1870s.

The course explains how state and federal jurisdiction over different segments of the industry emerged under the Federal Power Act of 1935 and later legislation, including the Public Utility Regulatory Policies Act of 1978 and the Energy Policy Acts of 1992 and 2005. We will review key regulatory concepts underlying all forms of regulation, from traditional cost-of-service regulation to the parameters for setting market-based rates.

The course will also cover alternative regulatory regimes, development of competitive wholesale and retail electric markets, enforcement of the prohibition against market manipulation, the role of Regional Transmission Organizations, and the reliability regime administered by the North American Electric Reliability Corporation.