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SUMMARY:IoES/Luskin Lunch Research Seminar: Public Utility and the Low-Carbon Future
DESCRIPTION:Substantialreductions in global power sector emissions will be needed by midcentury to\navoid significant disruption of the climate system. Achieving these reductions\nwill require greatly increased levels of financing\, technological innovation\,\nand policy reform. In the United States\, the scale and complexity of the\noverall challenge have raised important questions regarding prevailing\nregulatory and business models\, with much scrutiny directed at the traditional\npractice of public utility regulation. Recognizing the many valid criticisms leveled\nagainst public utility regulation and the important questions raised about the\nviability of traditional utility business models\, particularly in the face of\nsubstantial growth in distributed energy resources\, this talk argues that a\nrevitalized and expanded notion of public utility has a critical role to play\nin efforts to decarbonize the power sector in the United States. The talk will\ntrace the history of public utility (in concept and practice) over the last\ncentury\, the problems embedded in current regulatory and business models\, and\nthe prospects for reforming such models in the face of rapid technological\nchange and growing decarbonization imperatives. The central claim is that the\noverall scale\, complexity\, and sequencing of investments needed to decarbonize\nthe power sector over the coming decades (however it comes to be organized)\ncalls for a broad notion of public utility that draws from earlier\nunderstandings of the concept and provides an important foundation for efforts\nto govern a power system that is increasingly complex\, participatory\, and\nintelligent\, and for managing the sustained\, collective effort to channel\ninvestment and behavior in ways necessary to realize a low-carbon future. \nThe\ntalk will draw from a recent paper and some ongoing work. The paper is here if\npeople are interested: Public Utility and the Low Carbon Future\, 61 UCLA L. Rev.1614 (2014). \n Lunch\nwill be provided. 
URL:https://innovation.luskin.ucla.edu/event/ioes-luskin-lunch-research-seminar-public-utility-and-the-low-carbon-future-2/
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