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stranded costs."  Edison Electric Institute, "Initial Com-

ments of the Edison Electric Institute before the Federal

Energy Regulatory Commission," Docket no. RM94-7-000, Recov-

ery of Stranded Costs by Public Utilities and Transmitting

Utilities, December 9, 1994, pp. 5-6.

65. For information about the economic costs of nuclear

power, see Matthew Wald, "Nuclear Plant Drain Put at $100

Billion for U.S.," New York Times, February 1, 1988, p. D1;

and Caleb Solomon, "As Competition Roils Electric Utilities,

They Look to New Mexico," Wall Street Journal, May 9, 1994,

p. A1.  For information about the high costs of regulatory

mandates to address the "energy crisis," see Jeff Bailey,

"Carter-Era Law Keeps Price of Electricity Up in Spite of a

Surplus", Wall Street Journal, May 17, 1995, p. A1.  Also

see generally Lea Beth Ward, "Utilities Brace for a Buyer's

Market in Electricity," New York Times, May 9, 1993, p. F10;

Fox-Penner, pp. 121-23; Salpukas, p. D1; Thomas Casten,

"Smaller Is Better," Electricity Journal, December 1995,

pp. 70-71; Michael Block and Thomas Lenard, "Creating Com-

petitive Markets in Electric Energy," Progress and Freedom

Foundation, Washington, 1997, p. 1; and J. Alan Beamon and

Steven Wade, "Energy Equipment Choices: Fuel Costs and Other

Determinants," Monthly Energy Review, April 1996.

66. See John Rowe, "Cost Recovery before Competition,"

Regulation, no. 3 (1996): 6.

67. Granite State Electric Company, "Retail Competition

Pilot Program--Legal Commentary: Legal and Constitutional

Issues Presented by Retail Competition Pilot Program," Sub-

mitted to New Hampshire Public Utilities Commission, Docket

DC 95-250, October 30, 1995, p. 19.

68. Ibid.

69. Reformers should act fast.  Under California's retail

competition policy, stranded costs (euphemistically called a

"competitive transition charge") must be paid even by con-

sumers who leave the electric network because they install

microturbines of one megawatt or smaller.  Arthur O'Donnell,

"Exceptions to the Rule: Bypassing the California Transition

Charge," Public Utilities Fortnightly, November 15, 1996,

p. 35.

70. Corey Stone, "Whither Distribution?" Public Utilities

Fortnightly, December 1996, p. 20.