@article {Roseman7, author = {Elliot Roseman and Chris Nichols}, title = {High Wire Act}, volume = {6}, number = {4}, pages = {7--19}, year = {2001}, doi = {10.3905/jsf.2001.320231}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Transmission constitutes just 10\% of the assets of the integrated U.S. utilities, but compared to generation and distribution, has received a disproportionately small share of financial support, and until quite recently, management attention. A major challenge for the future will be to ensure that transmission investments are sufficient to support the anticipated growth in both wholesale and retail sales. In this article, the authors evaluate three potential future scenarios for transmission assets, with a transition between them possible over time. Broadly speaking, those scenarios are regulation-based transmission rates, market-based transmission rates, and distributed generation-based transmission. Today, there is a strong current running in favor of for-profit activity in the transmission sector, but there may be continuing skepticism that commercial transmission offers genuine competitive neutrality. Regulatory attitudes will shape what the sector is allowed to become, and winning the regulatory battle may be one of the most significant aspects of achieving corporate change in transmission.}, issn = {1551-9783}, URL = {https://jsf.pm-research.com/content/6/4/7}, eprint = {https://jsf.pm-research.com/content/6/4/7.full.pdf}, journal = {The Journal of Structured Finance} }