VIII. FAIRNESS VERSUS FUNCTIONAL EFFICIENCY AS OBJECTIVES OF RATE MAKING POLICY

Chapters in this book

1. Frontmatter I
2. Preface VII
3. Contents XI
4. PART ONE. Basic Standards of Reasonable Rates
5. I. THE PUBLIC UTILITY CONCEPT 3
6. II. THE PUBLIC INTEREST AS THE ASSUMED GOAL OF RATE MAKING 26
7. III. THE ROLE OF PUBLIC UTILITY RATES 42
8. IV. COST OF SERVICE AS THE BASIC STANDARD OF REASONABLENESS 66
9. V. VALUE OF SERVICE AS AN ANCILLARY STANDARD 82
10. VI. COMPETITIVE PRICE AS A NORM OF RATE REGULATION 93
11. VII. SOCIAL PRINCIPLES OF RATE MAKING 109
12. VIII. FAIRNESS VERSUS FUNCTIONAL EFFICIENCY AS OBJECTIVES OF RATE MAKING POLICY 121
13. IX. RATE-LEVEL STANDARDS AND RATE-STRUCTURE STANDARDS 135
14. PART TWO. Fair-Return Standards of a Reasonable Rate Level
15. X. CRITERIA OF A FAIR RETURN 147
16. XI. THE RATE BASE: COST OR VALUE 159
17. XII. THE RATE BASE: ACTUAL COST WITH OR WITHOUT ADJUSTMENT FOR PRICE-LEVEL CHANGES 172
18. XIII. THE RATE BASE: ALLOWANCES FOR DEPRECIATION UNDER AN ACTUAL-COST STANDARD 192
19. XIV. THE RATE BASE: REPLACEMENT COST AS AN ALTERNATIVE STANDARD 224
20. XV. THE FAIR RATE OF RETURN 238
21. PART THREE. The Rate Structure
22. XVI. CRITERIA OF A SOUND RATE STRUCTURE 287
23. XVII. MARGINAL COSTS, SHORT-RUN AND LONG-RUN 317
24. XVIII. FULLY DISTRIBUTED COSTS 337
25. XIX. DISCRIMINATION, DUE AND UNDUE 369
26. XX. THE PHILOSOPHY OF MARGINAL COST PRICING 386
27. PUBLICATIONS CITED IN FOOTNOTES 407
28. TABLE OF CITED CASES 420
29. INDEX 423