September 14, 2016
From taxis to television, nothing is safe from technological innovation and the resulting market disruption it leaves in its wake. Even Thomas Edison is not immune. The electricity model envisioned by Edison over 130 years ago at his Pearl Street Station – the nation's first central power plant – is evolving. This shift comes despite the fact that the current system continues to function reasonably well in delivering affordable and reliable energy to millions of households and businesses. But in today's innovation economy the old adage "if it ain't broke, don't fix it" no longer applies.
The nation's electricity laws and regulations are in need of updating in order to address the many challenges facing the industry. Credit, therefore, should be given to the House Energy and Commerce Committee, which last week began what could be one of the most significant energy undertakings Congress has tackled in some time – reform of the Federal Power Act, the statute that controls how wholesale electricity is produced, sold, and delivered in the United States. From an underwhelming experiment with deregulation to significant technological advancements to major changes in consumer expectations to increasing environmental pressures, the power sector is witnessing a shift that requires careful congressional oversight, if not actual legislative reform...
Read more at The Hill: http://thehill.com/blogs/congress-blog/technology/295696-the-evolving-electricity-sector-and-the-case-for-reform