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ARTICLE CONTENTS

[Pages 191-228]
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Introduction
I.  The Rise and Fall of Nuclear Power
    A.  Regulation of Electric Utilities
    B.  The Rise of Nuclear Power
    C.  The Fall of Nuclear Power
II.  Costs Associated with Nuclear Power
    A.  Ratemaking and Amortization
    B.  Decommissioning
    C.  Construction Costs of Canceled Plants
    D.  Stranded Costs
III.  Deregulation of the Electric Industry
    A.  Public Utilities Regulatory Policy Act of 1978
    B.  1992 Energy Policy Act
    C.  Comprehensive Electricity Competition Act
    D.  State Progress: Survey of Current Status of States’ Deregulation
IV.  Supreme Court Cases Establishing Rate Regulation Jurisprudence
    A.  Traditional Takings Jurisprudence  
    B.  The Effect of   Eastern Enterprises v. Apfel on Rate Regulation Jurisprudence
V.  Analysis
    A.  Potential Implications of Deregulation and Eastern Enterprises on the Ratemaking Process
        1.  The Holding of Eastern Enterprises Can Be Applied to Rate Regulation
        2.  The Economic Impact of a Regulation
        3.  Interference with Reasonable Investment-Backed Expectations
        4.  Character of the Government Action
        5.  Alternate Substantive Due Process Analysis
    B.  Policy Arguments
        1.  Ratepayers Should Not Be Responsible for the Unreasonable and Imprudent Decisions of Utilities
        2.  Utilities Are Not Guaranteed a Profit Under Regulation
        3.  Regulatory Compacts Are Void as Against Public Policy
        4.  The Imposition of Costs on Investors Improves Utility Efficiency
        5.  Consumers Have Paid Enough to Utilities
        6.  Refusal of Cost Recovery Will Not Destroy the Industry
Conclusion