Power Systems Conference Edmund O Schweitzer III Thank You for Participating

Insull at NELA Convention,
Chicago…June 7, 1898
1. Franchises granted to public-service
corporations should secure them the same
degree of protection in their rights to their
property as is enjoyed by other
investments.
2. Public control of charge for service, based
on cost plus a reasonable profit, and
eliminating the factor of competition, is the
proper safeguard for the interests of users,
taxpayers, and investors.
114 years ago
Why?
‣ Insull recognized “Capital always gets its pay.”
‣ Our industry is capital-intensive.
‣ Load diversity, e.g., daytime industrial use plus
nighttime illumination, improved use of capital.
‣ Large central stations much more efficient than
small generators.
‣ Sort of a “natural monopoly.”
‣ In exchange for monopoly, there needs to be
regulation, like Public Utility Commissions.
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