This volume brings together fourteen papers by leading economists, regulators, and industry practitioners presented at a historic conference on natural gas deregulation. From the origins of gas regulation in the last century to a reexamination of the policy reforms of the Federal Energy Regulatory Commission (FERC) over the last decade, these essays constitute a primer on today's major gas policy issues. These topics include the case for incentive regulation, the costs and benefits of mandatory open-access transportation, the methodology used for determining "workably competitive" markets, lessons from light-handed intrastate regulation, new transactions in the gas market, and private contracting to bypass regulation. Many of these issues and insights can be applied to restructuring other industries such as electric power and telecommunications. Academics and industry practitioners alike will find this book an indispensable reference guide to the history of gas regulation, the recent industry restructuring, and the options for future regulatory reform toward greater market reliance.

This eagerly awaited book on natural gas policy promises to be the major work on the subject. The result of the "Harvard Study on the Future of Natural GaS," conducted under the auspices of the Energy and Environmental Policy Center at the Kennedy School of Government, it is comprised of ten articles reflecting the ideas, discussions, and debates of recognized experts in the field of energy policy. The result is an in-depth analysis of the energy debate including past regulatory policy and its effect on the consumer industry, deregulation and its current and future impact, and other topics of serious concern to the industry. Policy recommendations are also made.