THE PUBLIC POLICIES OF A PRIVATE UTILITY: THE POLITICAL ECONOMICS OF CONSOLIDATED EDISON (NEW YORK).
Item
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Title
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THE PUBLIC POLICIES OF A PRIVATE UTILITY: THE POLITICAL ECONOMICS OF CONSOLIDATED EDISON (NEW YORK).
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Identifier
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AAI8611350
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identifier
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8611350
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Creator
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HERSHKOWITZ, ALLEN JOEL.
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Date
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1986
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Language
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English
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Publisher
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City University of New York.
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Subject
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Political Science, General
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Abstract
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By 1936 The Edison Electric Illuminating Company, founded in 1882 by Thomas Edison, had acquired or merged with over 170 other electric, gas, and steam companies to form Consolidated Edison. Recently, many of the basic assumptions of our earlier energy era which facilitated the growth of Con Edison have changed. The connection between economic development and greater energy use has been decoupled. Economic growth has recently been taking place in a range of manufacturing and service industries even as the growth in energy use has declined. Fuel and capital costs are high and large scale projects now have many diseconomies associated with them. And according to public opinion polls environmental conservation is now an American priority. Utilities and regulatory commissions such as Con Edison and the New York Public Service Commission (NYPSC) are the products of an earlier energy era and must adapt to these new realities or face increasing social and economic pressures.;This dissertation explores how Con Edison has responded to the reconstruction of social values and economics over the past 25 years. A fundamental assumption underlying America's private enterprise system is that as economic pressures and social values evolve, business can and will respond in an economically rational and efficient manner. Without such assistance and adaptability, a business will be unable to maintain its market. The regulatory assumptions enforcing this for electric utilities are explored in Chapter One. In the early 1970s fuel and capital costs skyrocketed and conservation of energy and capital became an overwhelming national priority. Con Edison, which has historically depended on selling (without regard to conserving) energy to generate revenues, was forced to respond. As Chapter Two points out, it did so by using the state and its regulatory agencies to its advantage, however incompatible with rational market economics. In addition, the 1970s and 1980s saw the emergence of new energy technologies which, though threatening Con Edison's autonomy and historical operating orientation, allow for the supply of energy in an efficient and socially and environmentally unobtrusive way. However, as Chapter Three points out, Con Edison managed to exploit its market position as a local monopolist to preclude such an alternative energy system from developing.;In the capitol of capital, so dependent on electricity intensive high-technology and computers, Con Edison's high rates and control of the New York City energy economy have not gone unnoticed. Chapter Four raises the issue as to whether Con Edison still qualifies, primarily in economic terms, to be a given monopoly franchise over N.Y.C.'s electrical grid. Chapter Four goes on to analyze some utility reform measures historically considered. However, as the conclusion to this dissertation suggests, New Yorkers should not expect much in the way of reform at Consolidated Edison. (Abstract shortened with permission of author.).
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Type
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dissertation
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Source
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PQT Legacy CUNY.xlsx
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degree
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Ph.D.
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Program
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Political Science
