Price Cap Regulation: Problems and Solutions
研究了价格上限监管的问题，包括从回报率监管转型、价格上限公式、交叉补贴及监管与竞争的关系，发现其未能保护垄断客户并允许交叉补贴，建议监管者定期审查以调整价格并促进公平竞争。
The problems of price cap regulation include: the transformation from rate-of-return regulation, the adoption of a price cap formula, cross-subsidization, and the relationship between regulation and competition. The experience of price cap regulation reveals that it does not protect monopoly customers, and it allows utilities to engage in cross-subsidization. These results imply that the regulator must periodically review price cap results to realign prices with the cost of service and to ensure that a level playing field that would nurture competition develops in every market.