Nobody downloaded yet

Ethics adn the regulation and deregulation of energy - Essay Example

Comments (0) Cite this document
Summary
Millions of households and businesses within the 24 different States which have enacted deregulation plans find themselves torn in two from what is the falling of the $220 billion electricity industry; that being one of the last government sanctioned monopolies…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.8% of users find it useful
Ethics adn the regulation and deregulation of energy
Read TextPreview

Extract of sample "Ethics adn the regulation and deregulation of energy"

Download file to see previous pages In the United States, the electrical and natural gas industries have found themselves undergoing developments of change in the way they supply their resources. Millions of households and businesses within the 24 different States which have enacted deregulation plans find themselves torn in two from what is the falling of the $220 billion electricity industry; that being one of the last government sanctioned monopolies. The deregulation of both markets has applied extreme pressure on both industries to act more efficiently.This drive in efficiency has then directly impacted more of a commitment from the two industries to establish further safety procedures and increased attention to ethical standards. In theory the deregulation of the markets should expand services further, creating more selection which in return directly opens up the market for competition. This in theory should create lower prices and of course a wider selection which will ultimately allow those of lower incomes to comfortably afford hydro and natural gas. These benefits have deregulation supports quite touted as they appear very certain that it will generally create greater occurrences. In some regions this plan has been a success however in most cases the results have been the opposite with an actual rise in prices with accounts of crisis in supply.Prior to the infamous electricity shortages and skyrocketing prices, California went through an uprising provided by the citizens to halt and overturn the states deregulation plan.

deregulation plan. In 1996 California became one of the first states to enact what was a

restructuring plan of electricity and natural gas. No later then two years after the plan was

put into effect public support of deregulation began to sway due to actual increases in

pricing. This measure obviously failed and criticism of deregulation grew further to a one

sided opinion from the public. The limited power supplies and astounding increases in

demand forced the electrical industry to further up the retail prices on power. In some

cases companies that provide retail prices based on wholesale value fluctuated

dramatically, electrical bills were noted to be double then what they were before the plan

started. This equalled not only outrage by the public but also examples that deregulations

were not consistent with its theory.


A good example success from deregulation comes from the analysis of the post

deregulation era in Pennsylvania. The enactment of the plan started in 1998, which

appears to have uplifting reviews. The state has been in blossom according to reports that

conclude great success on many accounts. The analysis shows that 500,000 consumers

being just over 11 percent of ratepayers have chosen to leave their current utility

companies no more then a year after the plan enacted. The trial in the Philadelphia area

concurs with this, concluding that residential consumers who decided to leave their

electricity providers for one that was least expensive in competition saved on average

$10.00 a month.


Ethnically speaking, those who are of the lower income brackets have been able

hopefully to sustain hydro more easily then before the plans enactment in Pennsylvania.

Whether or not the benefits such as lower prices can be consistent throughout the nation

is still however an unresolved question. California is a great example of the opposite

because the outcome of California deregulating electricity markets is substantially

different then that of Pennsylvania state.


After some of the main providers experienced financial crisis, consumers were

faced with rising prices beyond affordability, many ended up having to go without any

source of power and those who could continue to afford the up roaring prices experienced

shortages of electricity due to the overwhelming increase in demands.


Although deregulation shows ethical value it also proves to be inconsistent. The ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Ethics adn the regulation and deregulation of energy Essay”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1520451-ethics-adn-the-regulation-and-deregulation-of-energy
(Ethics Adn the Regulation and Deregulation of Energy Essay)
https://studentshare.org/environmental-studies/1520451-ethics-adn-the-regulation-and-deregulation-of-energy.
“Ethics Adn the Regulation and Deregulation of Energy Essay”, n.d. https://studentshare.org/environmental-studies/1520451-ethics-adn-the-regulation-and-deregulation-of-energy.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Ethics adn the regulation and deregulation of energy

Governance Regulation and Ethics

...?Task The concept of consumer protection and regulations based on relationships with consumers becomes a main obligation of businesses. The corporate social responsibility that applies to this is based on the focus of offering the best protection to consumers as a social obligation while ensuring that there are initiatives and responsibilities taken for consumer protection. In “Civil Action,” there is a question of the governance taken, specifically because the actions of a company don’t offer consumer protection or environmental concerns with the main actions. The questions which are presented are inclusive of relationships with consumers that are put into question and which lead to complexities among those who are...
11 Pages(2750 words)Essay

Governance, Regulation and Ethics

...?Governance, Regulation and Ethics Wall Street movie belongs to the category of prophetic films. This film is a jest about greedy and unethical business world. The motto of the main hero, a self-centered greedy businessman, Gordon Gekko (M. Douglas) is the following: “Greed is Good” (Wall Street Movie Synopsis). This man is a corporate raider and there is hardly something sacred for him. He is followed by Bud Fox (Charlie Sheen) who is young and craving for money and fame (Weiser, 2008). Fox joins greedy Gekko and tries to copy his actions and ruins his inner world. Fox quickly gets used to rape, murder and follow no ethical principles. Finally, going up a career ladder turns into a...
4 Pages(1000 words)Essay

Governance Regulation and Ethics

...? Governance Regulation and Ethics By of Governance Regulation and Ethics Introduction There are government rules and regulations that govern consumer transactions. These rules are meant to protect consumers from exploitation by unscrupulous manufacturers and suppliers. This means that government intervenes in the contractual freedom of parties and imposes regulations on the dealing between suppliers or manufacturers and consumers. This is premised on the fact that the manufacturers have a higher bargaining power as compared to the consumer and in such a position the consumers are vulnerable and exposed to exploitation (Halbert, Ingulli 2003, p.94). Consumer transaction the seller is well informed and consumer on the other hand... are...
5 Pages(1250 words)Essay

Marketing Ethics and Regulation

...Marketing Ethics and Regulation Every marketing decision is just not about being able to reflect a message about a certain brand or product and making a sale. The primary purpose of marketing is to be able to help consumers to be able to provide for their needs in the highest possible manner. Thus, once this is achieved, it is called a successful marketing. However, there are a lot of things people need to know and consider to be able to make this possible. One of the most important guidelines in doing so would come from the code of ethics. Code of ethics is a list of guidelines and regulations that would direct any marketer to make the right decisions...
2 Pages(500 words)Essay

Deregulation of energy

...The Impact of Deregulation in the Energy Industry Identification 0 Introduction 1 Terms of Reference Data collected by the US Energy Information Administration (EIA) for the period 1949 to 2010 indicates that net imports of petroleum increased between 1982 and 2005. Additionally, net imports have surpassed production levels since 1995. However, there have been signs of improvements since 2006 as US dependence on imported oil fell from 60.3% in 2005 to 49.3% in 2010. This, US EIA (2011) indicates resulted from several factors including efficiency improvements, consumer behavior and ‘patterns of economic growth.’ While this was taking place there was an increase in the level of crude oil...
8 Pages(2000 words)Research Paper

Ocean regulation and deregulation

... The movements that exist today to economically reregulate transportation modes are such as the re-regulatory movement ofWashington that imposes the need to impose discipline on the financial services of the transportation modes. The federal maritime commission also reregulates the ocean transportation modes. The federal maritime commission sets up a regulatory apparatus that is new (David 27). For a long time economists have pressed deregulation in the shipping industry after studies showed constant returns to scale and losses resulting from regulation. The aim of deregulation has always been to reduce the constraints that are imposed by the government on the ocean transport sector. Deregulation aims at creating conditions... that are...
1 Pages(250 words)Research Paper

Deregulation

...Deregulation Deregulation Deregulation involves the reduction in the role that the government plays in business control and thus creating businesses and markets that are freer, in other words, removing set regulations. The argument is that deregulation creates competitiveness and improves productivity. Arguments against it state reasons such as environmental preservation, reduction or control over monopolies, as well as prize standardization. Transportation, energy, finance, and communication are areas that have faced deregulation over time in different states. The federal civil aeronautics board (CAB) regulated all airline services for flights without the states (but not within) controlling the fares, travel times and even routes... . They...
1 Pages(250 words)Essay

Regulation/Deregulation

...The effects of regulation and deregulation in the recent financial crisis Introduction Regulation of the financial system actually entails setting up rules and regulations and also establishing an enforcement mechanism that is designed to control the operation of the systems constituent institutions and markets (Macey, 5). The main objectives of regulation are basically to raise state revenue, minimize the risk of financial crisis and to limit or channel financial power to an advantage. After the financial crisis of 2008/2009 in the U.S, consumer organizations, labor unions and political parties advocated the tightening of financial...
5 Pages(1250 words)Essay

Effects of Regulation/Deregulation in the Recent Financial Crisis

...Effects of Regulation/Deregulation in the Recent Financial Crisis In the of their operations, financial institutions are subject to some governing rules and regulations by an established body. The regulation of the financial system involves setting rules and establishing an enforcement mechanism that has been designed to control the operations of the financial system’s constituent institutions, markets, and instruments. Among the various forms of regulations that are instituted include antitrust enforcement, conflict rules, capital standards, asset restrictions, disclosure rules, interest rate ceilings, geographic and product line entries, investing and...
6 Pages(1500 words)Assignment

Airline Deregulation

...Airline Deregulation Insert Insert The five components of force measure that affected the airline industry after deregulation include: Threat of new entrant With the new act in place, many companies joined the airline industries posing a significant threat to the original airlines such as the United Airlines and the American Airlines (Argyres & McGahan, 2002). Which were there and had dominated the market forcing a shift in price change, small profits, more competition, more option for the customers, there the carriers had to increase the quality of services offered. Threat of substitute products and services The new entrant such as us air Airlines, Northwest, Continental and Southwest to mention but...
3 Pages(750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Ethics adn the regulation and deregulation of energy for FREE!

Contact Us