Public Utility Regulation

Public utility regulation involves government oversight of essential services like electricity, water, gas, and telephone companies to ensure they provide reliable, affordable, and safe services to the public. Regulators set standards, approve rates, and monitor company practices to prevent monopolies from charging unfair prices or providing poor service. This oversight balances the utility companies' need to recover costs and earn a reasonable profit with consumers’ right to fair access and pricing. Essentially, it aims to ensure that vital services are accessible, safe, and fairly priced for all consumers.