Institute of Public Utilities Regulatory Research and Education
The Institute of Public Utilities (IPU) was established in 1965 and operates within the College of Social Science at Michigan State University, the nation’s pioneer land-grant institution. We are located on MSU’s beautiful East Lansing campus and affiliated with several academic departments and research centers. IPU’s neutral analytical and instructional practice is informed by a broad spectrum of traditional and applied disciplines including economics, political science, law, accounting, finance, and engineering. IPU is an independent nonprofit unit of the University and financially self-sustaining.
IPU forums address today’s biggest challenges, including the complex integration of markets and economic regulation and the need to enhance regulatory capacity. IPU specializes in providing essential learning and networking opportunities, as well as continuing education credits. Certificates of participation can lead to a Certificate of Regulatory Education. IPU’s diverse program faculty includes nationally recognized university educators, and expert practitioners known for their insight, experience, and teaching ability.
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Utilities Policy is the peer-reviewed journal for researchers, utility company professionals, financial analysts, and industry consultants. It publishes original research papers, review papers, viewpoints, as well as book reviews, about the entire range of utilities including coal, electricity, gas, oil, telecommunications, urban transport, water, waste, and renewable forms of energy.
This book provides those in the regulatory policy community with a basic theoretical and practical grounding in risk as it relates specifically to economic regulation in order to focus and elevate discourse about risk in the utility sector in the contemporary context of economic, technological, and regulatory change. This is not a “how-to” book with regard to calculating risks and returns but rather a resource that aims to improve understanding of the nature of risk. It draws from the fields of corporate finance, behavioral finance, and decision theory as well as the broader legal and economic theories that undergird institutional economics and the economic regulatory paradigm.